Transmission

Battery storage looks simple - a steel box that charges when prices are low and discharges when they're high. But financing a BESS project in Europe means underwriting a trading position: convex revenues, volatile returns, and a growing menu of contractual choices that each shift the risk profile in a different direction. Lisa McDermott, Managing Director and Head of Energy Transition Project Fina...

The battery storage gold rush is over in most major markets. What's replaced it is more complex, more competitive, and if you're not careful with your contracts - potentially more exposed than the merchant era ever was. It is often thought that offtake deals like tolls de-risk a battery project, but that might be one of the biggest misconceptions in BESS right now. The market is maturing fast, but...

The battery storage gold rush is over in most major markets. What's replaced it is more complex, more competitive, and if you're not careful with your contracts - potentially more exposed than the merchant era ever was. It is often thought that offtake deals like tolls de-risk a battery project, but that might be one of the biggest misconceptions in BESS right now. The market is maturing fast, but...

Most BESS revenue forecasts aren't wrong, they're just being used for the wrong thing. The gap between a valuation-grade forecast and what a project actually earns in a live market is where BESS developers win or lose. The developers who survive that gap are the ones who design for uncertainty from the start - not after the fact. Recorded live at the Investing in Battery Energy Storage conference,...

Most BESS revenue forecasts aren't wrong, they're just being used for the wrong thing. The gap between a valuation-grade forecast and what a project actually earns in a live market is where BESS developers win or lose. The developers who survive that gap are the ones who design for uncertainty from the start - not after the fact. Recorded live at the Investing in Battery Energy Storage conference,...

Battery storage in Africa is one of the most misunderstood opportunities in global energy. Only 8% of the continent’s hydro power has been tapped. In Malawi, just 14% of the population is connected to the grid. Africa needs to add an estimated 100 GW of capacity in the next decade and the fastest way is with renewables and storage. Michael Cupit develops BESS projects in Malawi and Kenya, and he’s...

Battery storage in Africa is one of the most misunderstood opportunities in global energy. Only 8% of the continent’s hydro power has been tapped. In Malawi, just 14% of the population is connected to the grid. Africa needs to add an estimated 100 GW of capacity in the next decade and the fastest way is with renewables and storage. Michael Cupit develops BESS projects in Malawi and Kenya, and he’s...

Biomethane currently supplies just 1% of UK gas demand. Could it reach 30% by 2050? Philipp Lukas, founder and CEO of Future Biogas, makes the case. The UK uses around 700 terawatt hours of gas every year. Even as electrification reduces that to 150–250 TWh by 2050, the gas that remains will be harder than ever to replace. Industrial heat, steel, glass, shipping, aviation. Biomethane, produced fro...

Biomethane currently supplies just 1% of UK gas demand. Could it reach 30% by 2050? Philipp Lukas, founder and CEO of Future Biogas, makes the case. The UK uses around 700 terawatt hours of gas every year. Even as electrification reduces that to 150–250 TWh by 2050, the gas that remains will be harder than ever to replace. Industrial heat, steel, glass, shipping, aviation. Biomethane, produced fro...

Eight in ten clean energy projects never make it through development. Not because of bad ideas, but because of how the process is run: sequential, analog, and fragmented across consultants, spreadsheets, and months of waiting. In this episode of Transmission, Alejandro speaks with Stuart Pomeroy from Paces .Stuart breaks down exactly why the traditional development model fails, what a parallel wor...

Eight in ten clean energy projects never make it through development. Not because of bad ideas, but because of how the process is run: sequential, analog, and fragmented across consultants, spreadsheets, and months of waiting. In this episode of Transmission, Alejandro speaks with Stuart Pomeroy from Paces .Stuart breaks down exactly why the traditional development model fails, what a parallel wor...

Tax insurance helps clean energy projects manage the risk of the IRS challenging their tax credits - like the Investment Tax Credit (ITC), Production Tax Credit (PTC), or bonus depreciation. Instead of carrying that uncertainty, developers and investors can transfer it to insurers, adding confidence to project financing. In this episode, Alejandro speaks with James Chenoweth Managing Director at A...

Tax insurance helps clean energy projects manage the risk of the IRS challenging their tax credits - like the Investment Tax Credit (ITC), Production Tax Credit (PTC), or bonus depreciation. Instead of carrying that uncertainty, developers and investors can transfer it to insurers, adding confidence to project financing. In this episode, Alejandro speaks with James Chenoweth Managing Director at A...

How does a major renewable operator decide what gets built, where, and with whose capital? Lolita Carry, Director of Portfolio Strategy at Engie North America, explains how Engie manages a 20GW BESS, wind, and solar pipeline across ERCOT, PJM, MISO, and CAISO.In this episode Alejandro de Diego speaks with Lolita Carry about how one of the US's largest battery storage operators structures its inves...

How does a major renewable operator decide what gets built, where, and with whose capital? Lolita Carry, Director of Portfolio Strategy at Engie North America, explains how Engie manages a 20GW BESS, wind, and solar pipeline across ERCOT, PJM, MISO, and CAISO.In this episode Alejandro de Diego speaks with Lolita Carry about how one of the US's largest battery storage operators structures its inves...

The money for German battery storage exists. What's scarce is bankability - the clarity that lets a lender actually commit. What are banks really evaluating when they look at BESS projects in Germany and why regulatory uncertainty, grid connection risk, and the structure of offtake agreements can make or break the chances of getting debt across the line. In this conversation, Ed is joined by Flori...

The money for German battery storage exists. What's scarce is bankability - the clarity that lets a lender actually commit. What are banks really evaluating when they look at BESS projects in Germany and why regulatory uncertainty, grid connection risk, and the structure of offtake agreements can make or break the chances of getting debt across the line. In this conversation, Ed is joined by Flori...

The AI boom has created an energy problem no one quite planned for. Every new data center needs power now - not in three years when the grid connection finally arrives. Developers are skipping the queue, installing on-site generation at a scale that would have seemed extraordinary five years ago. But speed to power isn't the only pressure. Data center operators are also staring down net zero commi...

The AI boom has created an energy problem no one quite planned for. Every new data center needs power now - not in three years when the grid connection finally arrives. Developers are skipping the queue, installing on-site generation at a scale that would have seemed extraordinary five years ago. But speed to power isn't the only pressure. Data center operators are also staring down net zero commi...

Australia has built one of the world's most competitive battery storage markets — and it got there faster than almost anywhere else on the planet. What started as an experiment in South Australia in 2017 has grown into a mature, multi-gigawatt industry that is now redefining what grid-scale batteries can do. In this episode of Transmission, host Wendel Hortop sits down with Jérémie Yvon, Head of E...

Australia has built one of the world's most competitive battery storage markets — and it got there faster than almost anywhere else on the planet. What started as an experiment in South Australia in 2017 has grown into a mature, multi-gigawatt industry that is now redefining what grid-scale batteries can do. In this episode of Transmission, host Wendel Hortop sits down with Jérémie Yvon, Head of E...

The energy grid needs reliable, carbon-free power around the clock and geothermal might be the most underestimated solution on the table. A century of oil and gas expertise is now being repurposed to unlock heat sitting beneath our feet almost anywhere on Earth, and in doing so, it's also unlocking a new form of long-duration energy storage that requires no mountain, no reservoir, and no battery c...

The energy grid needs reliable, carbon-free power around the clock and geothermal might be the most underestimated solution on the table. A century of oil and gas expertise is now being repurposed to unlock heat sitting beneath our feet almost anywhere on Earth, and in doing so, it's also unlocking a new form of long-duration energy storage that requires no mountain, no reservoir, and no battery c...

How a battery gets optimised, from the moment a contract is signed to the millisecond a trade is placed, is still a black box for most people in the industry. Understanding that process is the difference between leaving money on the table and extracting maximum value from every asset. In this episode of Transmission, Ed Porter is joined by Fabrizio Fenu, Head of Business Development and Account Ma...

How a battery gets optimised, from the moment a contract is signed to the millisecond a trade is placed, is still a black box for most people in the industry. Understanding that process is the difference between leaving money on the table and extracting maximum value from every asset. In this episode of Transmission, Ed Porter is joined by Fabrizio Fenu, Head of Business Development and Account Ma...