Alle afleveringen
211 afleveringen, van nieuw naar oud
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104. Is Carbon the new Crypto? Aug23
16 augustus 2023 · 30 min
After a decade in obscurity, carbon offsets have resurrected in recent years as more companies are targeting net zero. Volumes and prices have picked up in 2021-22 to create a 2bn USD market that some institutions predict could rise to 50bnUSD by the end of the decade. But the market is non-regulated, very opaque and shrouded in incomprehensible jargon.
Sounds familiar? Is carbon the new crypto? Are bad credits a bug or a feature of the system? Why do Companies think that carbon credits could be a solution on their net-zero journey?
There are very heated debates around Carbon Credits/Carbon Offsets. They are loathed by very opiniated experts following spectacular failures or blatant frauds. On the other hand, some reasonable people are trying to sort out the mess while establishing, in the absence of any national or international regulations, what could differentiate a “good credit” from a “bad credit”.
We bring in one the savviest expert of the voluntary carbon markets, Guy Turner, who will lay out the controversies and explain what a good credit is. Guy Turner, one of the original members of Bloomberg New Energy Finance, owns and runs Trove Research. Trove Research is the most respected and comprehensive source of information on the Carbon Market.
With Guy we go from detailed concepts to the big picture and try to avoid the alphabet soup which has plagued the industry. A great conversation to set things in perspective.
Useful links Lees meerWho do define good credits: www.icvcm.org
How to REALLY become carbon neutral https://vcmintegrity.org/
Guy Turner’s company: https://trove-research.com/
The show is powered by AXPO, green electricity provider for decades.
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103. Battery chemistry: China against the World - Aug23
1 augustus 2023 · 31 min
As the growth of the EV market and Energy Storage continues unabated, we wanted to know what the current State of Play in the Battery industry is.
In 2023, China dominates the Li_Ion battery market and its main companies, BYD and CATL are – alongside Tesla – blazing the trail of new technologies and performances. Are there options beyond Lithium? How much progress have the battery technologies recently made? Where is the path forward for all the announced chemistries? Is vertical integration a real trend? Can the US and EU catch up? Lees meerWe discuss with Cormac O’Laoire, Managing Director at Electrios Energy, a Hong-Kong based expert; it becomes obvious that China and the rest of the world are on the cusp on diverging, adopting different technological pathways in term of Battery Chemistry. We talk about LFP/LMFP – Lithium Ferro Phosphate / Lithium Manganese Ferro Phosphate vs NMC – Nickel Manganese Cobalt. We talk about Sodium-Ion, Solid State… We talk prices. We try to foresee what will stay and what will go.
A fascinating deep dive with one of the world’s most recognised expert on battery supply chain. Who will win, who will catch-up, who will lose. We see clearer after this thorough conversation with Cormac.
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We thank our long tem partner Aquila Capital whithout whom this show wouldn't probably exist. -
102. Post Energy crisis, the “need for speed” - Live from Brussels / Eurelectric with Leo Birnbaum (CEO E.ON) - Jul23
15 juli 2023 · 29 min
Live from Brussels, on the 20th of June 2023, we were invited to interview Leonard Birnbaum. Since he came last on the show (Ep50), the whole Energy Sector has been through hell with Russia invasion of Ukraine and the subsequent near-death experience of 2022.
Leonard Birnbaum is the CEO of the giant German Utility E.ON and also president of Eurelectric, the sector association which represents the common interests of the electricity industry at pan-European level.
We have a very lively debate about how E.ON survived the energy crisis. What changes he had to be undertaken, how luck played its part, but also the “need for speed”.
Other key lessons were the end of tolerance for weaknesses, the acceleration of digitisation and total engagement with their customers. We then moved the conversation to the proposed reform of the Energy Market that regulators are keen to put in place. Is it too little too late or, on the opposite, a solution in search of a problem.
In its manifesto, Eurelectric wants to focus in the coming years on three priorities: Lees meerSecurity of supply
Stronger & more digitised infrastructure
Fairness of the distribution of risks & benefits between the stakeholders
Leo advocates for flexibility mechanisms rather than capacity mechanisms and support full traceability via 24/7 green certificates.
Finally, when you add the electrification of transport, the key word is Flexibility, as the electrification can either be fast or global, but cannot be both at the same time. Compromises will have to be made.
A great thanks to Kristian Ruby, Bruce Douglas and Emily O'Leary for making this moment possible.---
This podcast is powered by Axpo an international leader in providing sustainable energy solutions for the future. In the Nordics, Axpo has been a pioneer within Trading and Origination services for the last 20 years. -
101. Iron + Carbon = Innovations (Clean Power, LDES, Hydrogen, CCUS) - Jul23
1 juli 2023 · 30 min
Steel is essential for the equipment of the Energy Transition (Wind, EVs) but at the same time bears a very significant carbon footprint: 1.8tCO2/t steel. Pushed and/or incentivised by policies in the US and EU, the Steel industry must innovate to reduce its CO2 emissions which today represent 7%-8% of the world’s carbon dioxide.
ArcelorMittal (the world biggest steel company outside China) is in the thick of it. It is not just writing reports but investing through its own VC fund called XCarb Innovation Fund. Through XCarb ArcelorMittal invests tens of millions of dollars in three major routes: Clean Electrification, new DRI (Direct Reduction of Iron), and Smart Carbon.
So, we are going to talk about all future technologies that will help decarbonise the Steel sector: Advanced Nuclear, Long Duration Storage, Hydrogen, Carbon Capture Utilisation as well as a lot of other innovations in the making. Our guest is the very talented Irina Gorbounova, VP M&A at ArcelorMittal, and head of the XCarb fund. It is key to have an investor with a dual background, both VC and industrial, at the time of VC funding in down 75% yoy.
Can we decarbonise Steel, with what technology? At what costs? On which horizons? Irina tackles with scientific precision all those questions. The word “hard to abate” might soon be a thing of the past for the Steel Industry. Maybe, we will just have to say: “takes time and resources to abate… but we’ve got this”. Lees meer-------- Erratum
When we discussed Form Energy, we meant to say storage of 100 hours plus which is 10 times cheaper than lithium based one.
Thank you for your understanding.-------
Thanks to our partner for the Episode: Pexapark
And get our new media pack by emailing at info@redefining-energy.com
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100. “2030: have we succeeded the Energy Transition?” with Katherine Hamilton and Jigar Shah - Jun23
15 juni 2023 · 30 min
What a pleasure, what an honor to have the original Energy Gang on our show to celebrate our 100th Episode.
The wit of Katherine Hamilton and the laugh of Jigar Shah were our inspiration 5 years ago when we got drunk at the Red Lion pub near Piccadilly to launch our show. The “ambitious” business plan was to create a tiny European copycat of the Gang. 900k downloads later, this is where we are.
Katherine Hamilton is Chair at 38 North Solutions, a public policy firm focused on clean energy and innovation, and one the main artisan of the Inflation Reduction Act; Jigar Shah is Director at the Loan Program Office at the US Department of Energy, managing hundreds of billions USD to finance the Energy Transition.
The topic of this special show is the following: Let’s assume we are in 2030, Elon Musk is on Mars, did the energy transition work? Our conversation encompasses the decarbonisation of the grid, the future of Nuclear and Geothermal, the electrification of transport, Hydrogen, and many other topics.
In the end, we deliver a positive message: “We are succeeding the Energy Transition thanks to the thrust and imagination of the new generation.” Lees meer -
99. Operating a Grid in transition - Jun23
1 juni 2023 · 27 min
The electricity network is the bloodline of the economy. It is a very complex system, built over decades, with layers of technologies and it has to be reliable 24/7. We hardly talked about this network of wires and cables a few years back but now, in the context of the energy transition, it plays a critical role in solving the three main challenges: the three D’s – decarbonisation, decentralisation and digitisation.
Operating the grid 365/24/7 is not a simple task, as the primary objective of any electricity network is reliability; any structural change is like trying to change the engines of the plane while it is flying.
How can the network evolve to answer the challenges of the energy transition? How fast does it evolves? How can new transmissions be developed? How are the issues identified and what does the future looks like? How do network managers around the world collaborate and share best practises? Lees meerTo answer those questions, we’ve had a fascinating conversation with Fintan Slye, Executive Director of National Grid ESO, the Electricity System Operator for Great Britain’s national electricity network. Fintan has been Executive Director of UK National Grid ESO since 2018. Prior to this he was CEO of the EirGrid Group, the electricity system and market operator in Ireland and Northern Ireland. He has previously worked for McKinsey & Company and ESB Group.
This is Episode 99 and we promise you a big surprise for our Episode 100. Don’t forget our sister shows: the weekly fast Redefining Energy Minutes and the deep-dive Redefining Energy Tech with Michael Barnard.
Once again, we thank Aquila Capital for their continuous support. -
98. Optimising solar fleets: the “secret sauce” - May23
15 mei 2023 · 30 min
How to optimise a fleet of hundreds of solar parks? And the work needs to start once the asset has been energised...and continue for decades. Plus, as with an iceberg, most of the work is below the surface.
How to manage this complexity, what lessons can be learned from one territory to another? How are the teams trained? What is the impact of digital to optimise the economic performance?
We have the pleasure of welcoming Adele Ara, Head of Global Business Operations at Lightsource bp, where she has worked for nine years.
Lightsource bp is a global leader in utility-scale solar development and management. A 50:50 JV between the Energy Giant BP and the founding team, Lightsource bp is the largest solar developer in Europe and the third largest in the world outside of China. They operate more than 300 installations (from 5GW to 500GW) in 19 countries, a portfolio of 8.8GW of solar today with the aim of reaching 25GW in 2025.
Adele shares with us her vision of excellence, and… there is definitely a secret sauce.
Hint (in that famous quote from Peter Drucker): “Culture eats strategy for breakfast” Lees meerOur partner for the episode
FEBESOL is one of the fastest growing solar companies in Germany. FEBESOL delivers residential PV systems with outstanding quality, and also installs batteries, EV chargers and heat pumps. -
97. The endless conundrum of power markets reform - May23
1 mei 2023 · 31 min
The Power Markets have been created thirty years ago to respond to the Energy Deregulation drive. They have recently faced crisis, such as the Ukraine Russia war or storm Yuri in Texas, with power prices going crazy and creating a lot of financial distresses for certain producers and consumers.
Meanwhile, we see the development of renewables that increase the volatility and remove the traditional reference to marginal pricing linked to fossil fuels. How to characterise the problems?
Do power markets need a reform or a revolution? How can flexibility be bolstered? Can a fossil-fuel free system still deliver a marginal price? Are governments too heavy handed?
All those questions are put together and debated with our guest Stephen Woodhouse, Director, AFRY Management Consulting. Stephen has 25 years’ experience in the electricity business and has headed AFRY’s global work on energy market design for many years and is internationally recognised as an expert in energy market reform and the energy transition. AFRY Management Consulting is a leading advisor for the transitions of the energy, bioindustry, infrastructure, industrial and future mobility sectors.
Conclusion: let’s only touch the power markets with “fear and trembling” Lees meerWe thank our partners from Aquila Capital for supporting out show
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96. How to monetise large scale Batteries? - Apr23
15 april 2023 · 29 min
The Energy Storage Market, namely large-scale batteries, is the fastest growing segment of the Energy transition. Texas, UK, California, and Australia are witnessing phenomenal deployment rates. We are talking about annual growth of 30%-40%.
As more and more infrastructure investors are either considering investing in Batteries, or have already started, we wanted to make a deep dive on how to monetise that new asset class. Because revenues from batteries quite differ from wind and solar. It’s all about flexibility and optionality with a strong layer of digital.
To get a better understanding of this new landscape, we have brought our friend Quentin Draper-Scrimshire to the show. Quentin is a very talented young entrepreneur, fellow podcaster, and the CEO of Modo Energy, the leading data analytics firm focussed on the commercialisation of battery energy storage. Modo Energy's customers include funds, asset owners, utilities, traders, and optimisers in Great Britain. Who will win in the race for maximum returns? Data scientists turned traders or traders turned data scientists.
A wonderful look into the future, which is happening now, pedal to the metal!
https://modo.energy/ Lees meerAnd we thank Aquila Capital for their continuous support.
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95. Zero Carbon Europe : Blue Pill or Red Pill? - Apr23
1 april 2023 · 32 min
Can we really go to Net Zero and keep energy secure and affordable with current policies, or do we need to make hard choices that politicians might not be willing to sustain over the long term? Are the new technologies going to save us or will have to rely on dirigiste policies to dampen the energy prices spikes and secure affordable power.
What will it take to go net Zero? Are we too dependent on weather and unreliable energy sources? Two visions are clashing: it is Elon Musk’s Master Plan 3 vs Bill Gates/Vaclav Smil “We don’t have the tech” or it is just a question of generation: 51 years old vs 67 and 79 years old?
We present a very tough but necessary debate with Doug Houseman, Principal Consultant at 1898 Burns McDonnell (a US Engineering giant), and a keen observer of the Energy Transition. Doug has a plan, and he also comments on the alternative which would be Greta’s plan (That’s where we start to differ). But as Mike Tyson used to say, “Everybody has a plan until he gets punched in the face”. Lees meerAre our choices that binary? Doug advocates a nuclear renaissance, massive seawater pumped hydro systems and new transmissions. No mention of decentralized power, exponential deployment of batteries and solar, nor digital.
In a simple summary: are we complexifying a simple model or are we simplifying a complex model? Blue Pill or Red Pill?
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94. Heat Pumps are Hot - Mar23
15 maart 2023 · 32 min
3 million heat pumps were installed in Europe in 2022 (up 38% year on year) with some markets going crazy (Poland went up 120%). The movement is not limited to Europe, as US annual sales rose above 4 million units for the first time in 2022 (more than gas boilers).
As the deployment of heat pumps has reached an inflection point in 2022, we wanted to dig deep into the decarbonisation of heating. We wanted to talk about new technologies, economics and government interventions which are sometimes good (ban of new oil and gas boilers, subsidies) sometimes bad (electrons are more taxed than molecules).
This silent revolution needed a voice, and that’s our friend Jan Rosenow. Jan is the European Director of the Regulatory Assistance Project, a global energy think tank working on clean energy. He is also an Honorary Fellow at Oxford University. Jan Rosenow is a global heat pump expert and has tracked heat pump markets around the world. He works with policy makers all over Europe to craft and implement more effective policies to drive the transition.
And of course, we talk about Hydrogen (spoiler alert, not in great terms)
References https://www.youtube.com/watch?v=H3jIRRzF6d0
https://www.nature.com/articles/s41560-022-01104-8
https://www.raponline.org/wp-content/uploads/2022/11/RAP_Heat_Pump_Toolkit.pdf Lees meerCarbonBrief:
https://www.carbonbrief.org/guest-post-how-the-energy-crisis-is-boosting-heat-pumps-in-europe/debunking myths
https://www.linkedin.com/pulse/debunking-heat-pump-myths-dr-jan-rosenow?utm_source=share&utm_medium=member_ios&utm_campaign=share_viaWe thank our friends and partners Aquila Capital, for supporting the show
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93. Supply chain - wind, solar, batteries: how to fix the mess? - Mar23
1 maart 2023 · 31 min
The supply chains in renewables are a total mess. Security of Supply, Price fluctuations, Technological changes, ESG… Acquiring equipment on time and on budget is becoming a harder challenge by the day. How to fix the supply chain for renewables? Lees meer
We needed to bring a real professional on the show, and that’s Özer Ergül. Özer is Group Head of Procurement with Aquila Capital. Prior to joining Aquila Capital, he was Group CPO for Lightsource BP, and started his career at Toyota and then HitachiABB. Özer is also Chair of Supply Chain Sustainably workstream with Solar Power Europe. Last year, Özer supervised a CAPEX of 4bnEUR for a 3.3GW deployment of new renewable capacity in Europe and AsiaPac.
Özer delivers the four golden rules to fix the supply chains problems. More perspiration than inspiration. Very technical but eye opening.
We thank our partner for the episode, Conquest Group, a Paris/Dublin-based alternative asset management firm investing in and operating long-life, high-quality assets in tomorrow’s critical infrastructure for the energy transition on behalf of his clients
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92. Who’s winning the battery arms race? - Feb23
15 februari 2023 · 32 min
We discovered Simon Moores, CEO of Benchmark Minerals Intelligence, on YouTube, during a legendary testimony during the US Senate in 2019. Simon just blew our mind, so it had been an ambition for this show to bring him on. And we did.
With Simon, we analyse the whole supply chain of batteries, from mining (lithium, cobalt, nickel, graphite) to refining, down to the Gigafactories.
The battery industry has managed to scale x10 in the past six years and is expected to x8-x10 (depending on who you listen to) in the current decade. That would allow the electrification of the whole transportation sector!
Is there enough raw materials in the ground, are we going to go from one dependency to another? Can lithium be replaced? How is the state of the Nickel market after the 2022 meltdown? Can we create supply chains outside China? What is the impact of the IRA in the US? Will automakers get more involved in mining (we just witnessed the spectacular investment of GM in Thacker Pass)? Is there a new battery technology that would dent the domination of the Li-Ion batteries?
All those questions are so much more in a very lively discussion with Simon.
(We refer to Joe Lowry, that we respect and salute) Lees meer---------------
Benchmark Mineral Intelligence is an independent price reporting agency (PRA), data and supply chain intelligence provider for the lithium-ion battery and electric vehicle industry. We offer subscriptions and strategic advisory services to those in or looking to enter the active lithium-ion battery ecosystem.---------------
References:
https://www.youtube.com/watch?v=wv0PHIo1zzo
https://www.youtube.com/watch?v=OW45rCuhIg8&t=17s
https://www.benchmarkminerals.com/
https://events.benchmarkminerals.com/event/da3e1b1f-7c83-4a16-a34d-6b020d09070a/summary
And also, very useful report on the State of Play in the Battery Industry https://www.volta.foundation/annual-battery-reportAnd don’t forget our “Book of the Year 2022” “Volt Rush” on that topic.---------------
We th… -
91. The radical transformations of the PPA market - Feb23
1 februari 2023 · 28 min
Power Purchase Agreements (PPAs) are private contracts between a producer of renewable energy and consumers. The PPA was developing consistently, mainly driven by Utilities. Then 2022 arrived and we witnessed an unprecedented volatility in PPA markets in Europe.
What were the consequences of that turmoil on the PPA markets in terms of prices, tenures, counterparties? Did PPA provide good hedges to sellers and buyers?
We have brought in Luca Pedretti, the COO & Co-Founder of Pexapark to dive into the intricacies of the PPA market. Pexapark is the leading analytic platform of PPAs.
How has the market evolved in recent months and where is it heading? What new thinking and innovative approaches in terms of risk management are bringing solutions and give rise to new opportunities? We also talk about the detrimental haphazard proposals of market reforms by regulators, their lack of trust in the private sector, and their itching attempts to over-regulate with top down one-size-fits-all decisions, soviet style.
But hope is around the corner, and the PPA market will evolve and thrive, but it will be a different market, more on a portfolio basis than on an asset basis, with different tenures and risk management systems.
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Pexapark is a 5-year young, rapidly growing company of 100 enthusiasts providing renewable energy management software and PPA transaction services to investors so that they can independently price, analyse, manage, and transact their production on power markets. Pexapark enabled so far +20 GW of PPAs and its software is run for 1’000s of assets. Lees meerAlso, if you like more audio content on commodities and energy, check the HC Insider Podcast https://www.linkedin.com/company/hcgroup-global/
Finally, we thank our partner Aquila Capital, who make this show possible!
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90. Blockchain, BigTech and 24/7 Green electrons - Jan23
16 januari 2023 · 31 min
Everybody wants to buy 24/7 green electrons, but until recently, it has proven quite difficult. Most buyers of Green Energy are currently purchasing their electrons on a yearly basis, and furthermore with little regard for the location.
At the same time, last century thinking has gripped regulators with frantic proposals of price caps and tentative market reforms around nodal pricing. This flurry of activity has only added confusion in the mind of renewables developers, and hence has been stifling investment.
The real solution to a correct pricing of green electrons comes from several forward-thinking energy consumers such as Google and Microsoft who have now decided to target an hourly match of Green Electricity. In order to solve the issue of monitoring space and time, blockchain has come to the rescue under the form of an EnergyTag.
We have brought Simone Accornero, CEO FlexiDAO, a European Start Up in charge of tracking and monitoring those Green Electrons by the hour. FlexiDAO works closely with critical stakeholders to co-create the international standard around energy-related emission compliance.
Thanks to their end-to-end 24/7 Carbon-free Energy platform, companies can quantify and confidently showcase their contribution to society's decarbonization.
Tracking those Green Certificates will allow to price them properly, so renewable developers will know where and when it is valuable to add green electrons on the grid, boosting the incentives to invest in storage (time) and transmission (space).
The Energy timestamps are a genuine innovation in the development of the Energy Transition. Lees meerPlease check EnergyTag, with our friend Toby Ferenczi. (https://energytag.org/)
Also, as promised, the link to the 8th Energy Storage Summit – London 22 - 23 February 2023 https://storagesummit.solarenergyevents.com/
And we thank Aquila Capital for their support!
MESSAGE FROM FLEXIDAO
“During this interview, Simone Accornero made the statement that international certificates… -
89. Our Predictions for 2023 - Jan23
2 januari 2023 · 31 min
Happy new year 2023 to all our listeners. In this Episode, it is Nostradamus vs. Cassandra all over again: Laurent and Gerard review their 2022 predictions (Episode 65) and look forward to the future. Lees meer
How accurate were our two co-hosts’ predictions for 2022?
1) The Energy Transition is not going to be a smooth ride
2) The Hydro and water crisis
3) The decade of geothermal
4) High Energy Prices
5) Elon Musk out of Tesla
6) Power Market Structure Reform.Overall, it seems to be another draw. You’ll be the judge.
And here are our new Predictions for 2023
1) Record installation of everything Energy Transition: Solar, Batteries, Heat Pumps, EV
2) Massive consolidation in the EV sector – Toyota will buy Panasonic
3) Volatility in the Energy market is here to stay
4) New alternatives to Li-Ion in Stationary Storage
5) The Energy Transition has no plan, it just goes
6) Nuclear: Westinghouse takes over EuropeWe thank our partner Aquila Capital for their continuous support and wish all our listeners a Happy New Year 2023.
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88. The Solar Juggernaut - dec22
15 december 2022 · 31 min
Another year of explosive growth for the Solar Industry: production above 300GW, +45% yoy. What’s behind this staggering growth? How are the supply chain evolving? What are the “Fab four” and what new technology are they pursuing? Why are the prices not going down? How can the development of ESG in supply chain be assessed? How will the industry look in 5 years? Lees meer
So many questions for this booming industry and it is just starting: Solar PV capacity is expected to almost treble over the 2022-2027 period, growing by 1.5TW and surpassing coal as the largest source of power capacity worldwide, according to a report from the International Energy Agency (IEA). In its “Renewables 2022” report, the IEA expects renewables to grow by 2.4TW over the next five-year period, with an acceleration of installations in the residential and commercial rooftop market globally to help reduce energy bills.
We needed answers; that’s why we brought Finlay Colville on the show. Finlay is Head of Research PV-Tech and Solar Media and the most widely admired expert around the world for his insights. (Especially now that we are wondering about the fate of our Queen of Solar, Jenny Chase, who gave up the Head of Solar at BNEF. Jenny told me she is still active. We send her our love and respect).
Finlay strongly believes that the Solar industry will reach a 1TW capacity in this very decade, which is a total gamechanger than the incumbents are totally oblivious to.
Gerard and Laurent agree 100%. “The incumbent energy industry has literally no idea what’s coming for them”
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Find more of Finlay Colville analysis here
https://www.pv-tech.org/
https://www.solarmedia.co.uk/--------
A warm salute to our friends of Solar Power Europe.
https://www.solarpowereurope.org/-------
We thank the Green Recruitment Company for supporting the show. The Green Recruitment Company is the leading renewable energy and sustainability staffing company in the world.
With recruiters in Europe, America, China… -
87. Inflection point for Biogas/Biomethane - dec22
1 december 2022 · 31 min
The biogas/biomethane industry is now one of the promising segments of the Energy Transition: security of supply, renewables sources, local jobs, round the clock dispatchability; the industry ticks all boxes. Lees meer
Biogas can basically be made from any organic material, so the three big sectors are: 1) agricultural wastes (manures and slurries, crop residues) 2) food waste (from the processed food industry or food manufacturing, but also from supermarkets and households) 3) waste water. Biogas only contains 50%-60% methane; it can be upgraded to produce “biomethane” by removing the CO2 and other impurities.
Recent massive deals have made the headlines (BP acquisition of Archaea, Shell of Nature Energy, Macquarie of BayWa biogas, Nextera of Energy Power Partners) and more big players are committing capital to this industry: (TotalEnergies, Marubeni). Overall, the industry could x10 this decade.
To discuss the future of biogas/biomethane, we bring on Chris Huhne, UK Energy and Climate Change Secretary from 2010 to 2012, one of the founding fathers of CFDs in the Renewable Energy Industry and currently Chair of ADBA (Anaerobic Digestion and Bioresources Association).
We review the challenge of technological standardisation, government incentives, and feedstock supply chains.
Will biogas solve the energy transition on its own? Certainly not. Will it be an important part of the solution? Definitely.
We thank our long-time partners Aquila Capital
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86. The politics of Energy Infrastructure - nov22
15 november 2022 · 30 min
Geopolitics and Climate disasters have shown how fragile Energy flows and infrastructures have become. Moving electrons or molecules is becoming an ever-greater challenge in the drive to decarbonisation, affordability, and security of supply. Lees meer
Politics are always in the background, and the recent US Midterms elections have signaled the end of a full Democrat Congress which has been very active in financing infrastructures and the energy transition.
To discuss Energy infrastructure in the context of divisive national politics and tense geopolitics, we have invited one of the savviest US Energy regulators of recent years: Neil Chatterjee. Neil is an American lawyer, political advisor, and government official who was Chairman of the Federal Energy Regulatory Commission (FERC) from 2017 until he was removed from the position by President Donald Trump in November 2020 for his “pro-climate” positions.
The Federal Energy Regulatory Commission is the United States federal agency that regulates the transmission and wholesale sale of electricity and natural gas in interstate commerce and regulates the transportation of oil by pipeline in interstate commerce. FERC also reviews proposals to build interstate natural gas pipelines, natural gas storage projects, and liquefied natural gas (LNG) terminals, in addition to licensing non-federal hydropower projects.
At FERC, Neil approved several key infrastructures such as Liquified Natural Gas Export terminals, and passed the landmark Order 2222, unlocking the development of Distributed Energy Resources (mini grids, VPP, batteries).
With Neil, we discuss the US investments prospects in the wake of the US Midterms, the Inflation Reduction Act, the conundrum of Permitting and more generally how Energy flows are constantly being restructured.
We thank our new sponsor, The Green Recruitment Company, the leading renewable energy and sustainability staffing company in the world.
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85. Energy Trading: the "Lehman Moment" - nov22
1 november 2022 · 32 min
The war in Ukraine has triggered a dislocation of Energy markets, especially in Europe. This has led to a point a few months ago when governments had to bail out all Utilities which were caught on the wrong side of Energy Trades. Trillions of derivatives threatened to trigger a “Lehman moment”. Lees meer
How did we get there? Are the Energy markets the culprits or just the symptoms? Are they beyond repairs or can they be reformed? Do they even need to be reformed? As Regulators are coming up with new ideas every week, we bring on the show the legendary Energy Trader Pierre Andurand.
From Goldman Sachs whizz kid to now managing one of the best performing Energy funds on the planet, Pierre Andurand is one of the most successful Energy Trader since the retirement of John Arnold in 2012. Pierre shares with us a clear vision backed by stellar financial returns (consistently above 50% per annum the past 3 years, and above 30% over his 20-year career).
Pierre delivers a masterclass in Energy switching (Oil, Gas, Renewables, Nuclear), talk about elasticity of demand and the impacts of volatility on the transition; for Gerard and Laurent, it is equivalent of having a private tennis lesson with Roger Federer.
Did we have Lehman moments? definitely. Is the worse behind us? quite likely. And how do we see the future? Pretty rosy.
We thank Aquila Capital for their support
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84. Floating Offshore Wind - oct22
15 oktober 2022 · 30 min
Offshore Wind was one of the great development successes of the past decade, growing in 10 years from a few pilot projects to a real industry. Two zones have been at the fore front: the North Sea (with 30GW as of 2021) and China (with +20GW). Better tech, burgeoning supply chain and infrastructure, and a dramatic fall in cost have created tailwinds for this industry. Lees meer
Offshore Wind is now a technology considered all around the world. However, there is a little problem: the fixed bottom Offshore Industry has benefited from a unique feature of the North Sea, i.e. shallow waters (less than 70m). And if you find great wind resources offshore in a lot of places, the seabed is generally much deeper, in fact too deep for fixed bottom.
Hence, some of the North Sea pioneers have been trying to crack the code of floating offshore wind. A milestone was hit when, in March 2022, Scotland awarded 15GW of seabed for floating. No more experimentation, the race is on.
To talk about this new technology, its promises as well as its challenges, we have invited Stephen Bull, EVP Renewables at Aker Solutions, the Norwegian Engineering giant. Within its offshore wind division, Aker has developed a specific competence relating to foundations, transmission, marine operations, dynamic cable, mooring systems, and subsea power solutions.
Stephen Bull is also Chair of Renewable UK and one the founding father of the offshore wind industry in the UK when he was at Equinor leading the development of Dogger Bank, the largest offshore wind park in the world.
With plans to multiply offshore wind by a factor 10 in the coming decades, and floating being a key technology, Gerard and Laurent are having a great conversation on how to unlock the floating potential, and also discover how “concrete is the unsung hero of floating OSW”.
This episode is produced in partnership with WindEurope
https://windeurope.org/We thank our partner Aquila Capital
https://www.aquila-capital.de/en/ -
83. The rising tide of Electric Shipping - oct22
1 oktober 2022 · 27 min
Decarbonising the shipping industry seemed very aspirational until recently. Lofty goals are out there: “The International Maritime Organization (IMO) has set an ambition to reduce the carbon intensity of emissions from shipping by at least 40% by 2030, and 70% by 2050, compared with 2008 levels. To achieve this, the shipping industry needs to unite in taking urgent action.” Lees meer
While a lot of talks are centered around hydrogen or ammonia, it is once again the batteries that are making the difference. Namely, advances in batteries and the genuine advantages of electric propulsion vs fuel propulsion are now creating a perfect technical and economic launchpad for a massive decarbonisation of shipping.
Of course, we will start with short distance trips, like for ferries, tugboats, fishing, but the technology has developed so fast in recent years that the possibilities seem much wider. UC Berkeley models that – by the end of the decade – 40% of routes could be electrified without subsidies, not even taking into accounts environmental benefits.
To discuss the electrification of shipping, we have invited Geir Bjørkeli, CEO Corvus Energy to have a conversation about the technical options around the electrification of shipping. Corvus Energy is the leading provider of zero-emission solutions for the ocean space. Corvus Energy’s full product portfolio covers batteries for all types of vessels: Lightweight batteries for tourist and fast passenger crafts, large battery systems for cruise and ro-pax and batteries with high cycling capability for ferries and offshore. Corvus Energy has unsurpassed experience from 600 projects, totaling over 500 MWh and more than 4 million operating hours.
Gerard and Laurent’s big surprise is that we are not talking about massive government subsidies, the economics of expensive fuel and maintenance costs are doing the heavy lifting. Great story!We thank our partner AQUILA CAPITAL
Reference: UC Berkeley study
https://www.nature.com/articles/s415… -
82. The new Carbon Markets - sep22
15 september 2022 · 31 min
In the past two years, we’ve seen a remarkable renaissance of the carbon markets.
Some markets are of a “compliance” type - like in Europe - heavily regulated but limited in geography and scope; but there is limited prospect for an overall Cap & Trade worldwide as carbon markets were ignored in the US IRA - the largest Climate bill ever.
So, what happens when a sector or a company is not covered by those compliance markets but still have pledged a net-zero or carbon-neutrality (whatever that means)? Well, that’s where the “voluntary market” steps in.
Re-born on the ashes of the Kyoto Protocol, projects such as forestry, carbon avoidance and removal are developed and get rewarded for their environmental benefits. That’s not THE solution to climate change, but that could be one of several.
The current voluntary market has quadrupled its size in the last 3 years to 2bnUSD and is expected to reach 50bnUSD by the end of the decade. Still small, compared to a 10bnUSD/day on the oil market… but we need all the help available on our road to a +1.5C world.
Unfortunately, we have immediately witnessed a lot of gaming and greenwashing around the issue of carbon credits. Only horror stories make it to the media, not the great projects (and there are a lot); the former must be banned, the latter promoted and rewarded.
Around Mark Carney, former governor of the central banks of Canada and England, a group of scientists, NGOs, Industries have coalesced into the Integrity Council for Voluntary Carbon Market to create a quality benchmark, and make sure that the carbon credits proposed to corporations on their way to net-zero are sound.
We bring Annette Nazareth, chair of the Integrity Council to discuss about the goal, talk about horror stories and how the ICVCM, in full openness, is establishing rules for a robust market.
(we’re sorry if sometimes the sound quality is not perfect)
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References:
https://icvcm.org/public-consultation/
https://vcmintegrity.org/
http… Lees meer -
81. Nuclear industry at the crossroads - sep22
1 september 2022 · 33 min
Talking about nuclear is tough. In the left corner, a besieged and opaque industry only delivering carefully crafted talking points; and in the right corner, most of the energy economists and financiers that are ignoring promises never met. One can’t escape the feeling that the nuclear industry operates in a parallel universe where models don’t match reality, where actual numbers don’t match forecasts; a world where nuclear generation is flat over the past 10 years while renewables have quadrupled.
Nevertheless, when the current nuclear fleet is either forcefully closed (like in Germany) or becomes unreliable (like in France or Japan) or uneconomic (like in the USA), we see emissions going up, the restart of old coal plants, and a reduction of energy security at enormous cost (If EDF was producing as much as 12 years ago, Europe would yearly get 150TWh of carbon free power, equivalent to 250TWh of natural gas, or more than 50bnEUR ANNUALLY at current price level).
Despite all the flaws of the nuclear industry, the opinion seems to be shifting in its favour; not because of “net zero”, but because of security of supply and crazy fossil fuel prices. The best example of this is the recent U-turn of Japan and South Korea towards Nuclear. Lees meerThe nuclear industry is at the crossroads between oblivion and reboot.
We wanted to go beyond that “There is no alternative” message and dig deep into the industry’s challenges, pipe dreams but also real and exciting prospects, such as SMR (Small Modular Reactors) and other innovations. We also wanted to talk geopolitics and the role of Russia in the supply chain.
And there is no better guest than Boris Schucht, CEO of Urenco, to have an open debate on the pod. The Urenco Group is a British-German-Dutch nuclear fuel consortium operating several uranium enrichment-plants in Germany, the Netherlands, United States, and United Kingdom. It supplies nuclear power stations in about 15 countries, and has a 29% share of the global market for e… -
80. Solar rooftop: the foot soldiers of the Energy Transition - aug22
16 augustus 2022 · 26 min
This episode is done in partnership with SolarPower Europe. Lees meer
There is a lot of media around Utility solar, but the real solar revolution is happening one rooftop at the time. In China, the EU and Australia, Rooftop and C&I account for more than 60% of all solar installations (In the US, it’s only 30%). No need to restructure the Distribution network: it’s energy at the point of need.
So, we wanted to do an episode on Rooftop solar, because on one hand, very intelligent people in think-tanks and governments write reports after white papers about decarbonisation, on the other hand, entrepreneurs and industrialists are every day executing the energy transition by installing on-site solar power.
These are the foot soldiers of the energy transition, and they deserve their place in the sun (so to speak).
Hence, we have invited Thomas Kercher the CEO of Febesol, a fast-growing German rooftop solar installer to discuss the nitty-gritty of residential solar.
What are the motivations of his clients? How are the technologies evolving? What does the software look like? How easy it is to get permitting? and most important, what is the Human Resources aspect?
We also discuss the integration of solar into smart home, EV Charger, Batteries, Heat pumps as citizens are looking for lower costs, autonomy, and a new meaning of freedom from bureaucratic and unreliable global systems.We salute OTOVO, great platform, for providing excellent data.
Great thanks to our partner DLA Piper.
The energy transition is coming; it is not a top-down, it’s a bottom-up.
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79. The best kept secret (not for long): Energy Efficiency - aug22
1 augustus 2022 · 24 min
Energy Efficiency is not sexy, it’s under the radar, hard to invest in. We are talking about small unit amounts, with aggregation problems, credit problems, standardisation problems.
But the whole sector is undertaking a quiet revolution: with the price explosion of retail energy, efficiency is now on everyone’s desk.
In the US, Sunrun has managed to securitise portfolios of rooftop solar using techniques of the mortgage industry. The same techniques are now arriving in Europe, even if it’s more complex because Europe doesn’t have the equivalent of the American FICO score which was introduced 35 years ago and has proven so seminal in the growth of personal lending.
Nevertheless, pioneer utility and distributors like Octopus in the UK or Thermondo in Germany are integrating supply chains and providing financing for a seamless service.
We have the pleasure to receive Alex Betts, fund manager Energy Efficiency at Aquila Capital. We like Aquila because they have a robust methodical approach of EE. We discuss the challenges but also the prospects of EE investment. Lees meerWe thank our partner DLA Piper for supporting our show
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78. Batterytech, VCs, SPACs: “There will be blood” - jul22
15 juli 2022 · 27 min
The future of storage is so bright that investing in in the vertical and its adjacencies is the opportunity of a lifetime. At the same time, buyer beware - there are many Theranos-like investment opportunities lurking out there in our vertical. You've got to be very smart to minimize the losers in your portfolio…or, as the great Michael Lewis would say, adopt a “Moneyball” approach. Lees meer
Where are the successes and where are the pitfalls? You need to be a great financier but also a fantastic scientist to figure out which will be the winning opportunities in the maze of projects floating around.
That’s why we have invited Jeff Chamberlain, CEO of Volta Energy Technologies (a 400mUSD Venture Capital fund) to discuss all the new innovations out there, including solid-state batteries. Jeff Chamberlain launched Volta Energy Technologies (https://volta.vc/ ) from Argonne National Laboratory in 2016. Volta’s investment scope includes batteries, storage, and all the associated technology required to reduce cost and integrate batteries into vehicles and the grid across a spectrum of innovation that includes materials production, batteries, fast-charge tech, power electronics, management software, and recycling. Jeff and his team leverage all their knowledge and experience not only in batteries but also more generally in technology commercialization, physics, engineering, and investing to source, diligence, underwrite, and manage their investments.
We talk about the difficulties of scaling and the need to integrate innovations into the current industrial infrastructure and supply chains, not try to compete against them. The debate doesn’t not avoid “controversial” companies such as Quantum Scape and Energy Vault.
In conclusion, Batterytech is a fantastic field of investing, but there are Zombies out there, not only in VCs but also in public markets under the form of SPACs.
There will be blood.A great thanks to our partner Aquila Capital
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77. Subsea interconnectors - jul22
1 juli 2022 · 30 min
Subsea interconnectors are a very discreet sector, it entails decade-long developments…but are developing fast and have become critical to increasing renewables penetration and enhancing energy security. They were originally developed around the North Sea and the Baltic Sea by TSO (Transmission System Operators) but have now caught the interest of large private infrastructure investors. Those HVDC cables, running for hundreds of kms under the seabed, can carry (in both ways) power equivalent to a nuclear plant. Lees meer
How are those projects being developed? What are their revenue models? What are the technical options? What does the future look like as pharaonic projects liking continents are now being considered? Gerard and Laurent provide an in-depth view into the beauty and sophistication of those projects with the “captain Nemo” of interconnectors, Simon Ludlam.
Simon, a former investment banker, is the founding partner of Etchea Energy which currently provides the Management Team to the Irish MaresConnect interconnector project. Etchea Energy previously provided Project Director services to the €500m Greenlink Interconnector where it was successful in introducing Cap & Floor regulation in Ireland, securing PCI status for the project, and raising equity finance for the construction phase. Prior to Greenlink, Simon originated and led the development of the €600m ElecLink interconnector project through the Channel Tunnel.
We thank our friend and partner Aquila Capital for supporting the show
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76. Battery swapping for two-wheelers: Gogoro - jun22
15 juni 2022 · 29 min
After the fiasco of “Better place” in 2013, a much-hyped Israeli start up that proposed battery swapping for cars, everybody thought that the concept of battery swapping was dead. Against all odds, an exceptional Hong Kong Chinese American entrepreneur decided to be a contrarian and launched Gogoro as Better Place collapsed. But Horace Luke’s angle was to focus on two-wheelers, which are so present in Asia (500 million). Horace’s past experiences at Microsoft and HTC helped him shaped his vision. Battery Swapping was in his mind, the ideal solution for mass adoption of electric Two-Wheelers in densely populated, polluted and congested Asian Megacities.
Execution has been performed the “hard way”, as the initial digital platform has morphed into a hardware company, designing batteries, manufacturing electric scooters, and operating swapping stations.
Fast forward ten years, Gogoro has built the world’s leading battery swapping network and best-in-class electric two-wheelers, and is now listed on the NASDAQ with a market cap above 1bnUSD.
We have the pleasure of welcoming Horace Luke to discuss the challenges and opportunities of battery swapping for two-wheelers. And learn the benefits of the “hard way”. Lees meerWe thank our partner DLA Piper
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75. Lithium: “White Gold” rush or the “limiting factor”? - jun22
1 juni 2022 · 30 min
Elon Musk calls Lithium supply the “limiting factor” for electric vehicle adoption globally. Lithium is the key material for the Energy Transition and is currently enjoying a “white gold” rush. Lees meer
The supply has significantly gone up multiple fold in the past seven years, up to 500,000t/y in 2022; still, demand is expected – according to Benchmark Minerals Intelligence – to grow another four to five-fold this decade.
The shortage of Lithium – whether real or perceived -, has triggered a spectacular rise in the price of materials over the past two years. Spot prices of Lithium have gone up six-fold since 2020. And Lithium is not alone: Nickel, Cobalt, Graphite, every battery material has gone up. Basically, in 2020 you had 2,000USD of material in a Tesla battery, now it is closer to 6,000USD.
Are we going to run out of Lithium? Are they new places to mine, new players, new technologies which could come to the rescue?
We have invited Alex Grant, Principal at Jade Cove Partners, to assess all those challenges.
We call Alex the “Indiana Jones of Lithium and Battery materials”. Forbes 30 under 30, research affiliate at Lawrence Berkeley National Laboratory, Alex has an M.S. from Northwestern University in Chemical Engineering and tracks 70 different Lithium Extraction Technologies. Finally, he has a cool Twitter handle: @big_lithium. So, he is the man to interview!
We also have inserted an excerpt from Elon Musk conversation in the FT “Future of cars” that was held in May 2022 where Tesla’s CEO shares his views on the Lithium supply chain.A salute to our main sources of knowledge in Lithium: Simon Moores at Benchmark Minerals Intelligence, and of course Joe Lowry aka “Mr Lithium”. Check them on LinkedIn
And thanks again and again to our partner Aquila Capital
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74. The new profile of Energy Transition Funds - may22
16 mei 2022 · 26 min
There is not a single day when we don’t hear about new funds being raised to finance the Energy Transition. As very few funds are listed on Exchanges, and it is estimated that more than 2/3 of the Energy Transition is currently financed on private markets, for which there is limited public available information. Lees meer
Today, we attempt to lift the veil on those VC (Venture Capital), PE (Private Equity), Infrastructure funds which all working to finance the Energy Transition. Who invest in those funds, how they are managed, how do they evolve, what is the “special relationship” between GPs (General Partners) and LPs (Limited Partners)? What will be the performance of the new “Climate tech” and “Decarbonisation” funds that have recently been launched.
We also try to decrypt an increasingly complex regulatory environment where green labels are getting harder to get. Are new regulations a solution to greenwashing or just more bureaucracy?
So, what the new profile of Energy Transition funds?
We have invited Tiffany Howard, Principal at Capstone Partners (a Mizuho Company) to discuss the state of play. Capstone is one of the most active placing agents of the industry. Tiffany discusses with Gerard and Laurent the latest evolutions of the private markets financing the Energy Transition.We thank our partner DLA Piper for supporting the show
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73. High energy prices vs. the Energy transition - may22
1 mei 2022 · 28 min
Over the past few months, energy prices have gone through the roof, and Russia’s invasion of Ukraine has put energy security on the front burner. We can legitimately ask ourselves: Are high energy prices and the need for energy security tanking or boosting the Energy transition? Lees meer
Of course, we now are seeing the fossil fuels lobbyists making victory laps, telling “we told you so”, “forget about net-zero” “This is La-la land”, “That’s the consequence of ESG”. In our opinion, that is just grand standing.
To try to understand where the Energy Transition is heading, we have invited one the wisest observer of the Energy Landscape, Jules Kortenhorst. Jules, after a distinguished career in the Energy Industry, is now CEO of RMI (formerly Rocky Mountain Institute). RMI is a 40-year-old independent nonprofit organization of experts working across disciplines to accelerate the clean energy transition to secure a clean, prosperous, zero-carbon future for all.
With Jules, Gerard and Laurent assess the near term and long-term impacts of the current energy markets turmoil. They confront their visions of how policies, technologies, investments, and individual behaviors will influence the future of the Energy Transition.We thank Aquila Capital for their support
Contact RMI
@JulesKortenhors
@RockyMtnInst
https://www.linkedin.com/company/rocky-mountain-institute/
https://rmi.org/There is also an excellent report by Alexa Capital on the same subject here
https://www.alexa-capital.com/news-insights/how-europe-s-pearl-harbour-moment-is-affecting-the-transatlantic-energy-transition-outlook/ -
72. A Ukrainian Utility at War. A story of resistance, resilience, and hope - apr22
15 april 2022 · 19 min
How to survive a war when you are a Utility in Ukraine? Lees meer
Thanks to Eurelectric which organised the introduction, we have the honour of welcoming a hero of the Energy world: Maxim Timchenko, CEO of DTEK, one of the top integrated Utility in Ukraine.
During an intense conversation we talk about war, destruction, and sufferings, but also about resistance and resilience. Maxim praises its workforce as it tries to reestablish power and heat in liberated towns.
Beyond the horror and the drama, there is hope for the post war situation, the optimism of a stronger European integration that will help our continent wean itself of Russian dependence while creating opportunities for Ukraine’s resources.We thank again Maxim for making the time. Slava Ukraini
Maxim will join European Power Summit in June
https://powersummit2022.eurelectric.org/Thanks to our forever friends and partner Aquila Capital
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71. Ventures and breakthroughs to decarbonise Heat - apr22
1 april 2022 · 25 min
Decarbonising Heat is a significant challenge on the road to Net-Zero, Climate Resilience and Energy Security. It is also a very complex problem as there are several categories of heat that require different technical solutions. While Heat Pumps can (and will) provide low grade heat, the options for high grade heat are evading electrification and will continue to rely on burning molecules. Lees meer
Several start-ups on the US West Coast are tackling the challenge, with the support of powerful Venture Capital funds such as Bill Gates’ Breakthrough Energy Ventures.
To understand how those groundbreaking applications looks, we have invited a young prodigy on the show. Tony Pan, CEO and Co-founder of Modern Electron, explains his approach to Ultra Energy-Efficiency in Heat. Once scaled, Modern Electron’s innovations will significantly enhance the climate performances of heating.
We thank our partner DLA Piper for its support
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70. Why digital management of Batteries matters? - mar22
16 maart 2022 · 28 min
The deployment of Li-Ion batteries has exploded in recent years and is expected to enjoy a 30% annual growth until 2030. But those very critical pieces of hardware need a brain to fully function, and that is where software kicks in. In fact, they are two layers of software: the operating system, monitoring the functioning of the battery and the cloud system that interacts with the global electricity system and the power markets. Managing batteries revenues widely differs from geography to geography. Revenues can be categorised in three captions: a) short term ancillary service: daily auctions for primary, secondary, and tertiary reserve b) wholesale electricity market: day-ahead, intraday and imbalance markets; c) long-term auctions such as capacity schemes, voltage control, and last reserve.
The battery management software must adapt to those different revenue stacks. So, how are the software developed, managed? How do they evolve?
We have the pleasure of welcoming Seyed Madaeni, Chief Digital Officer at Fluence, to discuss those fascinating subjects.
Finally, we do a deep dive into the economics of Fluence and have a go at the newly listed (and supposedly competitor) Energy Vault.
We thank Aquila Capital for supporting the show. Lees meerIf you want more from Gerard and Laurent, check our sister podcast: Redefining Energy MINUTES, available on all main podcasts platforms.
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69. Escape from Russia: Rewiring Europe - mar22
1 maart 2022 · 23 min
The war in Ukraine is a total gamechanger. Beyond the personal drama and misery inflicted on millions of human beings, it triggers a tremor in the world of Energy of a magnitude not seen since the Oil shocks of the 70’s.
As Energy Security becomes front and center, Gerard and Laurent try to understand the short-term implications on the Energy landscape.
Are we moving away from the energy transition or are we going to align energy security with the energy transition?
Politicians have a chance to rise and make radical decisions. We have the human and financial capital; we have the technologies. We can implement a deep decarbonization than will also benefit Energy Security. Lees meerIt is about Rewiring Europe, electrifying heating and transports, building networks faster, full digitization, higher level of resilience. Rewiring Europe will require significant changes in mindset, thinking, regulation, and in investments. Rewiring Europe will bring bold ideas to fruition and require bravery in implementation. But let’s be clear, Rewiring Europe must be done in an economic environment where financial institutions want to invest, as the sole burden of the transition cannot be borne solely by the ratepayers or the taxpayers.
If we wean ourselves off oil and gas, we will be free!
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Proposals:
Short term
1. Reduce demand for natural gas – Practically, Germany and Belgium may both have to delay closures of nuclear plants and the same may need to happen for coal plants across the continent.
2. Move any energy purchases away from Russia – Practically, we may need to rethink the closure of North Sea and NL gas wells but also be prepared to import energy at higher prices from other parts of the world.
3. Fill up storage tanks – Europe needs to buy as much as it can in terms of uranium and fossil fuels to ensure we have enough energy to keep the lights on and our economies working.
4. Help energy sensitive customers – Practically, governments will need to help people and compa… -
68. Green Hydrogen: miracle or mirage? - feb22
15 februari 2022 · 29 min
As we are celebrating the 20th anniversary of the seminal book by Jeremy Rifkin “The Hydrogen Economy” and the astronomical amount of non-sense it contained, we wanted to have a real look at the prospect of Green Hydrogen.
Beyond bombastic claims such as “History will look back at 2022 as the year that hydrogen started to reshape the world”, we have decided to dig deep into the technology and prospect of Electrolysers.
And there is no better guest to talk about electrolysers than Graham Cooley, CEO of ITM Power. ITM Power is one of the largest electrolyser manufacturers in the world, and has deep pockets to pursue a very aggressive expansion. What is true now, and how does the horizon looks like for green hydrogen?
In other words, is Green Hydrogen a miracle or a mirage? Lees meerAnything you want to know about Hydrogen, go to our friend Paul Martin and his Hydrogen Science Coalition.
https://h2sciencecoalition.com/Link to the Irena Report: Geopolitics of Green Hydrogen
https://www.irena.org/publications/2022/Jan/Geopolitics-of-the-Energy-Transformation-HydrogenA nice video of Electrolysers in action (Humberside Project – UK)
https://www.youtube.com/watch?v=97lA75HocBwAnd we thank again our partner DLA PIPER
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67. From PowerPoint to Gigafactory - feb22
1 februari 2022 · 30 min
Gigafactory: a term first coined by Elon Musk in 2013 when announcing the Tesla+Panasonic giant battery plant in Nevada. There are currently more than 260 Gigafactories planned around the world, but lots of them remain “PowerPoint factories”. So, how do you go from PowerPoint to Gigafactory?
The answer might be in Norway, so let’s go to Norway.
We are very happy to be joined by Tom Jensen. Tom is CEO of FREYR battery, a Norwegian Gigafactory start-up. In 2021, FREYR raised 600mUSD on the NYSE to make his vision of Speed, Scale and Sustainability come true.
We discuss the strategic positioning, the inherent advantages of Norway which go beyond cheap clean power, we talk about industrialisation, technology, chemistry, supply chain and competition.
Tom is a great admirer of the Swedish neighbour Northvolt, but he plans to catch up fast. With such a great leadership, FREYR will soon be a force to reckon with in the Battery industry. Lees meerThanks to our great partner Aquila Capital
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66. “The missing hours”: in search of 24/7 carbon free power - jan22
16 januari 2022 · 27 min
Delivering 24/7 carbon free power is the holy grail for infrastructure funds. Such progress requires a new approach to investing. New technologies need to be harnessed: Hybridization, storage, and data science. The ESG component is also getting additional scrutiny from investors. So, how will the state-of-the-art infrastructure fund of the 2020’s look like. Lees meer
We have the privilege of welcoming David Scaysbrook, co-founder and managing partner of Quinbrook Infrastructure Partners. We discuss his vision and execution of infrastructure capable of delivering 24/7 carbon free power. Our conversation covers all type of renewables: wind, solar, hydro, biomass, methane recovery and battery storage. We also talk about the growing importance of digital and ESG.
Reference to two great podcasts:
-Jigar Shah, head of Loans Office Program DOE, on Experts Only https://podcasts.apple.com/gb/podcast/experts-only-podcast-104-with-commercial-financing/id1277844958?i=1000545651034
-Elon Musk on the Lex Fridman Show
https://podcasts.apple.com/us/podcast/252-elon-musk-spacex-mars-tesla-autopilot-self-driving/id1434243584?i=1000546357873Thank you to our new partner DLA Piper.
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65. Our Predictions for 2022 - jan22
2 januari 2022 · 30 min
Happy new year 2022 to all our listeners.
In this Episode, its Nostradamus vs. Cassandra all over again: Laurent and Gerard review their 2021 predictions (Episode 42) and look forward to the future. How accurate were our two co-hosts’ predictions for 2021?
1) “The Empire strikes back”, legacy players in the Energy and Automotive sectors will bounce back
2) The unstoppable development of renewables
3) The SPACs* valuation hang-over, most of them imploding after reaching unjustifiable valuations
4) The tipping point in EVs production and adoption
5) The renaissance of the Carbon markets
6) The growing leadership of China in the Energy Transition…
Get the results and see how was the more accurate Lees meerAnd now our six predictions for 2022:
1)The Energy Transition is not going to be a smooth ride
2)The Hydro and water crisis
3)The decade of geothermal
4)Energy High Prices
5)Elon Musk (Time’s “Person of the Year”) out of Tesla
6)Power Market Structure ReformWe thank again Aquila Capital for continuing to support the show in 2022, and we have lined up very exciting contents for you all in the coming months. Happy new Year!
*SPAC: Special Purpose Acquisition Company
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64. Unstoppable solar - dec21
15 december 2021 · 24 min
2021 looked like an “annus horribilis” for the solar industry. Price increases, supply chain problems, threat of taxes on importations. Is the solar industry at the end of 2021 just doom and gloom? Absolutely not. The solar industry has grown an amazing 27% this year, and the trend will continue in 2022. Lees meer
We bring the best analyst of the industry, Jenny Chase, Head of Solar at Bloomberg NEF to go through the trends, in volume, prices, technologies, supply and demand. We discuss why solar resists all threats and establish itself, despite recent price rises, as the cheapest source of electricity worldwide.
And to finish the year on a high note, this marvelous quote from our eternal hero (and TIME’s Person of the Year) Elon Musk: “The sun is absurdly, overwhelmingly the source of energy in our solar system. Doesn’t even need maintenance – just works!”We also want to congratulate Patrick Graichen (Ep52) for becoming new Germany’s Secretary of State for Energy and Climate; Michael Barnard (Ep59) second most downloaded episode; and finally, the king, our friend and mentor, Paul Martin (Ep44) for the most downloaded episode of the year (and ever!).
Paul just co-created the Hydrogen Science Coalition (https://h2sciencecoalition.com/), a group of independent academics, scientists and engineers who are working to bring an evidence-based viewpoint to the heart of the hydrogen discussion. We fully endorse that initiative. Go Paul, Tom, Bernard, David and Jochen.
And as we close the year, we thank again our long-term partner Aquila Capital, who has decided to continue next year. Yeah!
Merry Christmas to all our great listeners (before the EU Commission bans it as “too offensive”) and talk to you all in 2022.
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63. Ultra-fast EV charging (and mini grids) - dec21
1 december 2021 · 28 min
EV charging is developing exponentially. It is now a 30bnUSD market per year, growing at a astonishing pace of 20%. More than 1.5m EV charging stations are now operational in the world, 50% in China, 30% in Europe. The US will catch up soon thank to the Biden Infrastructure plan that commits 7.5bnUSD to EV charging. Lees meer
But ultra-fast charging comes with technical challenges as the impact on the local electricity networks are tremendous. On the one hand, large EV charging networks are being deployed with a commoditised approach and questionable business models; on the other hand, new turn-key sophisticated solutions start to emerge, such as integrating batteries and EV charging, creating micro-grids at retailers’ premises.
We invite Arcady Sosinov, CEO FreeWire Technologies, a Californian Start-Up that has raised more than 100mUSD from leading investors (Riverstone, BP, BlueBear), to discuss the future of Ultra-fast EV charging.
And it is not going to be necessarily what people currently think.
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62. ESG investing: A force for good or blah blah blah? - nov21
15 november 2021 · 32 min
As COP26 comes to a close, there has been a flurry of commitments to invest trillions of dollars in green technologies and carbon neutral projects. That is the core of ESG investing (or is it?).
ESG investing has grown exponentially since the famous 2015 Marc Carney’s speech "Breaking the Tragedy of the Horizon" and the 2020 Blackrock letter “Because capital markets pull future risk forward, we will see changes in capital allocation more quickly than we see changes to the climate itself”. Numbers are dizzying. ESG investment has almost trebled over the last five years, reaching $50 trillion in assets in 2021. Lees meerAt the same time, ESG investing seems to be victim of its own success with inflated claims not met by facts. With more than 600 ratings and 5,000 metrics, ESG has become a maze where investors are drowned in an “alphabet soup” of standards while some financial institutions seem to be more focused on fees than purpose. At last, the regulators - whether the EU Commission or the SEC - are starting to intervene to create standards.
To try to understand the dynamics of ESG investing, its challenges, effectiveness, and possible solutions, we have invited Catherine Howarth, CEO of Shareaction. Shareaction is a NGO working to assess the quality of sustainability practice of the world’s largest institutional investors, and to hold investors accountable on the gap between their sustainability claims and actions.
We exchange candidly with Catherine on ESG ratings, shareholders’ activism, the divestment movement, and the role of regulators.References
Shareaction: https://shareaction.org/
Quilter on ESG: https://media.quilter.com/search/greenwashing-tops-investors-concerns-around-esg-products-new-research-finds/
Talking Responsibly: https://podcasts.apple.com/gb/podcast/talking-responsibly/id1547007524
DivestInvest: https://www.divestinvest.org/
“Doing Good or Feeling Good” by EDHEC: https://energycentral.com/c/ec/doing-good-or-feeling-good-detecting-greenwashing-cli… -
61. The future of power distribution networks (with ENEL) - nov21
1 november 2021 · 24 min
Renewables are developing very fast, but without a proper distribution system, the energy transition will soon stall. So, what does tomorrow’s green grid looks like? It seems like a dull subject, but the grid modernisation is the necessary condition of a successful roll out of wind, solar and EV Charging.
What needs to change, what type of investment are necessary, not just from a deployment perspective but also in terms of efficiency, costs, and regulation.
We have the privilege of inviting Antonio Cammisecra, Head of Global Infrastructure & Networks at the giant Italian Utility ENEL. ENEL operates distribution networks in eight countries on two continents. Antonio provides us with a ground-breaking vision of tomorrow’s green grid, digital and adaptable. He also unveils breakthrough management techniques such as quantum computing and cyber-security.
Distribution networks should definitely not be underhyped. Lees meerThank you to Aquila Capital for supporting the show
If you want to help increase our audience, a 5* ratings and a kind review really help!
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60. From Energy Transition to Energy Crunch: The “Natgaspocalypse” - oct21
15 oktober 2021 · 22 min
For the past decade, Natural Gas has been promoted as the “Clean, Reliable and Cheap” fuel to assist the Energy Transition. Well that cosy theory, heavily promoted by the fossil fuel companies, is collapsing in front of our eyes with the Gas crunch affecting Europe, Asia and Latin America.
As of 6 October 2021, TTF (the Dutch gas hub) front month prices briefly touched 160EUR/MWh, 8 times higher than where they were at beginning of the year, and equivalent to a staggering 56USD/mmbtu or 350USD/bbl of Oil. Lees meerIn this episode, that we record almost live, Gerard and Laurent try to analyse the causes, the impacts, and the long-term consequences of what we dub “The Natgaspocalypse”. We might as well have called the episode “From Russia with love” as we are discussing, amongst other factors, the role of Russia in the current energy crunch.
But a lot of other long-term and short-term factors have come together to create the perfect storm. So, if supply is being analysed, there is also a lot to discuss about demand.
How those crazy energy prices are fed to the final consumers is creating havoc within the Energy supply chain and triggers heavy-handed, hastily designed, government interventions. Such crises certainly distract the decision makers from their lofty “Net Zero by 2050” goals.
Even when the market ends up rebalancing, as commodities market always do, the suddenness of the shock and its magnitude will generate significant consequences that will go beyond price controls and geopolitics. Governments will need to be more hands-on, whether through a faster decarbonisation or simply doubling down on gas.
The Energy Transition will not be a smooth journey.
We thank Aquila Capital for their support
https://www.aquila-capital.de/en/ -
59. Long Duration Energy Storage: the “Final Frontier” - oct21
1 oktober 2021 · 33 min
What are the technological options to compensate for – as the German say - the “Dunkelflaute” (dark doldrums), those winter weeks of low winds and low solar? That’s the code that will have to be cracked by Long Duration Energy Storage (above 8 hours and up to several days). Because, if no realistic solution is implemented in the coming years, we will still have gas peakers in the XXIIth century.
Gerard and Laurent have invited Michael Barnard, an internationally recognised technology cleantech consultant, with world-class expertise on grid storage technology, electrification, and hydrogen.
Together we review and analyse the various options: how far can Li-Ion batteries get us to? How to maximise the value of pumped hydro storage? How to scale flow batteries? Can we even rely of more breakthrough technologies?
It will take time, will need government intervention, energy market reforms, but the solutions are there. Long Duration Energy Storage is definitely the “Final Frontier”. Lees meerReferences
Disclaimer: Michael works as adviser for Agora Energy Technologies - https://agoraenergy.ca/
Prices of batteries: https://about.bnef.com/blog/battery-pack-prices-cited-below-100-kwh-for-the-first-time-in-2020-while-market-average-sits-at-137-kwh/
MIT research:
https://news.mit.edu/2021/powering-energy-transition-better-storage-0329
https://www.nature.com/articles/s41560-021-00796-8 -
58. Fuel Switch or Fuel Fix for Steel and Cement? - sep21
15 september 2021 · 28 min
Steel and cement with their 2,000 mills and 3,000 kilns, together currently emit 15% of the world’s CO2. So far, they’ve been exempted from carbon trading or carbon pricing, which means no significant reductions have been implemented. But in a 1.5degree and Net Zero scenarios, they start to feel the pressure. Lees meer
We brought Dolf Gielen, Director Innovation and Technology at IRENA (International Renewable Energy Agency) into the conversation to try to understand why those industries are so hard to decarbonise. And we are focusing the debate on a very simple choice: do you fix the fuel (with CCS – Carbon Capture and Storage of CO2) or do you switch the fuel (with – for example Hydrogen or Biomass)?
There are a lot of hurdles to overcome, such as: bad economics, international competition (especially for steel, not so for cement), and regulators who don’t seem to be very interested.
Some promising options are now on the table, but they will require massive governments interventions.
References:
Engineering with Rosie (Youtube) on CCS technologies: https://www.youtube.com/watch?v=fC388uNJhUYAn excellent blog on cement emissions:
https://www.linkedin.com/pulse/co2-emission-from-cement-industry-whats-best-estimate-claude-lorea/McKinsey on decarbonizing Steel:
https://www.mckinsey.com/industries/metals-and-mining/our-insights/decarbonization-challenge-for-steelDolf Gielen: https://www.linkedin.com/in/dolf-gielen-852ab514/
And, last but not least, a hilarious video explaining really how CCS/CCUS works
https://www.youtube.com/watch?v=MSZgoFyuHC8Many Thanks to Aquila Capital for supporting the show
https://www.aquila-capital.de/en/ -
57. Methane, the invisible elephant in the room - sep21
1 september 2021 · 34 min
Methane is the largest source of greenhouse gas after CO2. The latest IPCC report has flagged the issue as “Code Red”. Until recently, Methane Emissions had not been universally monitored nor managed. Hence, how can Natural Gas legitimately claim that is it is a “bridge fuel” in the fight against Climate Change?
Thankfully, the landscape is starting to evolve; and it’s about time, as methane emissions represent 8x those of the much-publicised aviation sector.
Behind this major improvement is the non-for-profit MIQ, co-piloted by the prestigious RMI (Rocky Mountain Institute). MIQ had devised a ranking system for all Oil and Gas provenance, assessing and grading the content of venting, leaking, and flaring. The MIQ system leads to third party certification, a major milestone in the fight against Climate Change.
Gerard and Laurent seat with Georges Tijbosch, senior advisor at MIQ, who is deploying those major advancements, which might have significant geopolitical implications.
Finally, Gerard debunks Laurent’s wild conspiracy theories around Russian gas. Lees meerReferences:
MIQ: https://miq.org/
Capterio: https://capterio.com/flareintel
Kayrros: https://www.kayrros.com/methane-watch/A great thanks to Aquila Capital for supporting the show: https://www.aquila-capital.de/en/
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56. How to decarbonise Aviation? - aug21
15 augustus 2021 · 30 min
The future of Sustainable Aviation is a very hot topic, but there are currently more questions than answers:
How much of the aviation can be electrified? Will innovation come from start-ups teaming up with VCs or large OEMs? What new systems will have to be designed and certified? Is Hydrogen a solution or a fantasy? What role will biofuels and e-fuels play?
To enrich the debate, Gerard and Laurent have invited Toby McCann to assess the various routes. Toby McCann is an Aviator and an Aircraft Engineering manager at Thales, veteran of the Fleet Air Arm with over 25 years' operating around the globe. He is also one of the top experts in Sustainable Aviation. Lees meerToby McCann: https://www.linkedin.com/in/tobymccann/
List of all new Electric planes starts ups: https://aamrealityindex.com/
Look at this beauty: https://www.faradair.com/A great thanks to Aquila Capital for supporting the show: https://www.aquila-capital.de/en/
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55. EVs: Tesla against the world - aug21
1 augustus 2021 · 34 min
2020 has proven a turning point in the EV market, and the trend is accelerating in 2021: more models, stronger public policies, mass roll-out of charging infrastructure, and a 300bnUSD race to catch up on Tesla. Lees meer
What’s the current state of play in the EV market? Among the OEMs, which are the Tesla challengers, and which are the laggards? Do the SPACs have any future? What are the Chinese up to? What to think about innovative outsiders such as Rivian and Rimac? What about vertical integration, software developments, autonomy, and new services?
A refreshing open conversation with our friend James Carter, a 25-year veteran of the Automotive industry and recognized sharpest mind on the future of mobility.
https://www.linkedin.com/in/jamescartertoronto/Check our friends:
Benchmark Mineral Intelligence: https://www.benchmarkminerals.com/
Rho Motion: https://rhomotion.com/A great thanks to Aquila Capital for supporting the show: https://www.aquila-capital.de/en/