Energy Unplugged by Aurora

This week, on Energy Unplugged, we have a special episode featuring Aurora experts in a discussion about what energy markets are hot in Europe right now and why. Our Research Lead for European Power Markets Ryan Alexander is joined by Anuoluwa Omojola, Flexibility Lead and Rebecca McManus, Renewables Lead in the same team. Main topics include: •The most exciting markets for renewables and battery investment in Europe •The European Commission’s current power market reform •European Commission’s accelerated permitting rules and which markets are most ahead of the game in implementing those •Which markets are most proactive in terms of encouraging co-location and why Support the show

In this episode we focus on the grid connections reform process and we welcome Julian Leslie, Head of Networks and Chief Engineer at National Grid ESO in a conversation with Emma Woodward, Project Leader at Aurora. Julian has 30 years' experience in electricity system operation, planning and investment in various senior leadership roles. His current role is to prepare Great Britain’s electricity networks for Net Zero. Julian has a degree in Electrical Engineering, is a Chartered Electrical Engineer and a Fellow Member of the Institute of Engineering and Technology. Main topics include: •The current grid connections process and the key steps developers have to follow •The multiple connections reforms going on at the moment, their current status and relation with other existing reforms •The key challenges in the reform process Support the show

In this Energy Unplugged episode, we discuss the upcoming priorities of the Swedish TSO (transmission system operator), such as the capacity market implementation and solving grid bottlenecks. We’re pleased to be joined by Lowina Lundström, Senior Vice President, Svenska Kraftnät, in a discussion with our Head of Nordics & Baltics, Alexander Esser. Lowina is also Chairman of the Board of Directors at eSett, a company providing balance settlement services to participants of electricity markets in Finland, Norway and Sweden. Prior to that, she had several roles at the Nordic utility Fortum, and at Ellevio, one of Sweden's largest energy companies. Main topics include: •The role of TSOs for the energy transition in Sweden •The needs and bottlenecks of the Swedish power system •Sweden’s future as an electricity exporter Support the show

This week on Energy Unplugged we welcome Dave Jones, Global Electricity Insights Lead at Ember in a conversation with our Managing Director for Central Europe, Hanns Koenig. Ember is an independent energy think tank that uses data-driven insights to support the energy transition. Before joining Ember in 2020, Dave worked for 13 years at German utility E.ON as an electricity analyst and after that, in 2014, he joined the non-profit Sandbag, where he was working on phasing out coal in Europe. Main topics include: •Driving the agenda for Europe’s coal exit and global trends in the coal phase out •Campaigning for wind parks, grid expansion, efficiency vs. campaigning against coal •Ember’s most recent European Electricity Review and its work on a global renewables goal Support the show

In this Energy Unplugged episode we focus on Japan’s energy markets. We’re delighted to be joined by Professor Llewelyn Hughes of the Australian National University (ANU) in a conversation with our Managing Director in APAC and California, Hugo Batten and our Head of New Markets in APAC, Rowan von Spreckelsen. Llewelyn is a deep expert in Japan’s energy markets, being currently the Director of the Japan Institute at ANU. He’s had a long and distinguished academic career, spending time at MIT, Tokyo University, and Harvard, he has worked both in government (i.e. as an advisor to Ichirō Ozawa, Liberal Party of Japan) and the private sector (i.e Enron in Japan), as well as providing strategic and regulatory advice to energy companies operating in Japanese energy markets. Main topics include: •The evolution of Japan’s power markets over the last 5 years •The Japanese power market de-regulation and market shifts and the big domestic players’ response to these •The challenges of decarbonisation of the power sector in Japan, covering transmission, nuclear, hydrogen and offshore wind Support the show

This week on Energy Unplugged we welcome Sven Utermöhlen, Chief Executive Officer at RWE Offshore Wind, in a conversation with our Co-Head of Advisory for Central Europe, Casimir Lorenz. RWE is a leading global player in renewables and number two worldwide in offshore wind. Sven joined RWE in 2022 and before he has held various senior executive roles in renewable energy for more than sixteen years, including at innogy SE, and E.ON, where he also led the company’s offshore wind division. He also previously served in management consultancy roles for the Boston Consulting Group. He studied at the Universities of Karlsruhe and Hamburg. Main topics include: •The outlook of the offshore wind supply chain in Europe •The probably of reaching the ambitious offshore wind targets in Europe •The aim of a good market design for renewables and offshore wind in particular •The competition between different markets with regards to their attractiveness Support the show

This week we have a special episode on Energy Unplugged in which we discuss the Japanese power market with Aurora's leadership team in Tokyo. Our Managing Director in APAC and California, Hugo Batten is joined by Aurora’s Rowan von Spreckelsen – Head of New Markets, APAC; Hayato Ono – Head of Advisory, Japan; Alex Luta and Zelin Chen – Project Leaders, Japan and Sehun Nakama – Associate, Japan. This episode is being released just as we open our office in Tokyo and deliver our first research projects in Japan. Main topics include: • The current generation mix in Japan and expected changes over the next years • Key elements of the energy transition in Japan • The Japanese electricity market design • Insights from Aurora’s Japan power market modelling work Support the show

In this week’s podcast we welcome Jonathan Brearley, CEO of Ofgem, in conversation with Dan Monzani, our Managing Director for UK & Ireland. Over the next 12 years, the energy system is under pressure for transformation to reach the goal of Net Zero. This episode focuses on the necessity for change within the energy system in order to achieve these targets. Jonathan has wide-ranging energy sector experience, having led Electricity Market Reform as the Director for Energy Markets and Networks at DECC. Prior to this, he was Director of the Office of Climate Change, a cross-government strategy unit focussed on climate change and energy issues, where he led the development of the Climate Change Act. Earlier in his career, Jonathan was a senior adviser in the Prime Minister’s Strategy Unit. In 2020, Jonathan became Ofgem's Chief Executive Officer after two years in the role of Executive Director for Systems and Networks. Main topics include: *The current stability of the retail market in the run to Net Zero *The future of the system operators and how important some fundamental changes are for delivering Net Zero *Why networks play a critical role in driving the energy transition. Support the show

In this episode, we discuss the energy transition as an investment climate for low-carbon infrastructure in Europe and the US. Our Research Director, Richard Howard is joined by Aurora experts: Ryan Alexander, Research Lead for European Power Markets and Julia Hoos, Head of USA East. Main topics include: •The impact of the REPowerEU plan and the Inflation Reduction Act (IRA) in the US on the energy transition •The status of renewables deployment in Europe vs the US •Green hydrogen as a direct replacement for natural gas Support the show

In this episode, we welcome Jack Curtis, Chief Commercial Officer at Neara, in a talk with our Managing Director in APAC and California, Hugo Batten, and our Head of Research in APAC, James Ha. Today’s discussion is focused on the challenges the power grid faces through the energy transition. Neara is a physics-enabled platform that builds 3D interactive models of networks and assets, providing the ability to run real-world scenarios, assess current and future risks, and prioritize maintenance and disaster response. In the past, Jack was also Head of APAC for First Solar, and before he was both an investment banker and a lawyer. Main topics include: •The development of renewables over the past 10 years in Australia •The government and the private sector’s roles in achieving the 1.5 degrees goal in Australia’s electricity system •Neara’s platform, its fit with other models, and the challenges of the grid Support the show

In this episode we welcome Jan Pepper, CEO, Peninsula Clean Energy in a conversation with our Head of Advisory – US West, Felix Chow-Kambitsch and our Head of Research – US West, Kim Liu. The discussion focusses on clean energy in California, as the state transitions towards its commitment of 100% clean electricity by 2045. Jan has been working on renewable energy in California for the last 30 years. She is now CEO of Peninsula Clean Energy, a Community Choice Aggregation agency for San Mateo County and the City of Los Banos. Under Jan’s leadership since its inception in 2016, Peninsula Clean Energy has been leading the industry with its unprecedented goal for a California load-serving entity to procure 100% renewable energy 24/7 by 2025. Main topics include: •The role of CCAs in the energy transition •PCE’s goal to deliver 24/7 renewable power by 2025 •Opportunities and challenges as California moves to 100% zero-carbon Support the show

This week we have a special episode on Energy Unplugged in which we welcome Daniel Breuer, Partner at Osborne Clarke in a conversation with our Co-Head of Advisory Central Europe, Thekla von Bülow. The episode is preparing for our Renewables Summit Berlin 2023 taking place tomorrow, Thursday 11th of May in Berlin, Germany. The topic of the event is ‘Coordinating the German State and Market: Policies and Strategies to Reach 80% Renewables by 2030’ and Daniel is one of our speakers at the event. Daniel will be participating in one of the panel discussions entitled ‘Uncovering Optimal Pricing Mechanisms and Navigating Impacts of Regulatory Interventions on the Power Purchase Agreements (PPAs) Markets’. Daniel heads Osborne Clarke Germany’s Energy & Utility practice. He advises clients on all energy and regulatory matters with a particular emphasis on renewable energy projects (from greenfield development to repowering), direct marketing and PPA structures (corporate, utility and financial), energy trading compliance, battery storage and (green) hydrogen and the digital transformation of the energy industry. The podcast episode is a pre-discussion of the topics we will touch upon on at our Renewables Summit Berlin 2023. We hope to see you there! Main topics include: •The PPAs market in the last 2-3 years starting with the COVID-19 pandemic and going through the energy crisis •The impact of price caps on the recent PPAs transactions in Germany •Regulatory interventions and their impact on the PPA markets Support the show

This week on Energy Unplugged, we discuss about the revolution in retail energy markets in the UK and internationally. We’re delighted to welcome Melissa Gander, Chief Operating Officer at Kaluza in a conversation with our Managing Director for UK & Ireland, Dan Monzani. With an extensive career in energy, Melissa was a member of OVO Energy’s launch team in 2009 where she headed up their Customer Services and Operations, as well as their smart metering business. In 2019, Melissa became OVO Group Chief Operating Officer and joined Kaluza in 2021 as Chief Operating Officer helping to spearhead the company's international growth. Before joining OVO Energy, Melissa spent three years at Envoy Asset Management (part of Inexus Group). Melissa graduated in Economics from Sheffield University. Melissa & Dan discuss: •OVO Energy and what drove the growth of the company in the first 5 to 10 years •Kaluza’s business model as a real-time SaaS platform accelerating the shift to a zero carbon world •International retail markets and how straightforward is to scale a platform such as Kaluza •Domestic flexibility and the role EV manufacturers have to play Support the show

In this episode we’re delighted to welcome Chris Hansen, State Senator for Colorado in a conversation with our Head of USA, Oliver Kerr. Chris entered politics in 2016, he had a long career in the energy sector, both in academia and industry, he’s an energy expert by training, with a master degree from MIT, and a PhD from Oxford University. Oliver and Chris discuss: * The energy transition in Colorado and the role government has to play * The role for markets in the energy transition * The progress of decarbonisation wider in the US Support the show

Join Hugo Batten, Managing Director in Australia at Aurora, in an exciting episode of the podcast dedicated to the Australian Energy Market. With special guests Skipp Williamson, Managing Director at Partners in Performance, and Brian Innes, Global Technical Director specializing in energy transformation practice, this episode delves into the challenges and opportunities for large energy users in Australia to decarbonize their electricity supply. Skipp Williamson, named by the Australian Financial Review as the 2019 most influential consultant, shares her insights on how she sees decarbonization as an opportunity rather than a challenge for large energy users, which derives significant cost reduction and increased productivity. The discussion also touches upon the importance of hybrid solutions and supply chain optimizations for big industrial users in the global market, including South Africa and Europe. The episode also explores the complex coal closure process in Australia over the last decade and the role of technology and service in driving energy transition. The podcast highlights Australia's strong policy thinking and appetite for change, while acknowledging that implementation may lag behind other countries like the UK and New Zealand. The role of governance and the need for the right mechanisms and incentives for investment reliability are also discussed, with a focus on the quality of carbon offsets in Australia, praised globally due to policies like The Safeguard Mechanism, implemented by the Australian government to regulate greenhouse gas emissions from large industrial facilities in the energy sector. Don't miss this informative and thought-provoking episode on the Australian Energy Market, packed with insights from industry experts and leaders in the field. Tune in now to gain a deeper understanding of the challenges, opportunities, and policy landscape in Australia's energy transition journey. Support the show

In this episode, we are delighted to welcome Jeanne Soh - Head of Renewable and Sustainable Energy, Structured Finance Department Asia Pacific, SMBC, Jason Humphreys - Partner Singapore, Allen Overy and Rowan von Spreckelsen - Principal at Research Analytics, Aurora in a discussion with our Managing Director for Australia Hugo Batten on some of the major challenges and opportunities in Asia Pacific Region for energy project finance. This episode is the third in a series on global project finance, organised in partnership with SMBC Group. With a number of 4 episodes covering Europe, Australia, Asia and the US, this series is hosted by Aurora, with guests from SMBC Group, various law firms and Aurora. The APAC region has varying levels of development when it comes to financing alternative energy solutions, with different markets exhibiting different levels of activity in energy and project finance based on technologies and geographies. Taiwan has shown increased interest in offshore wind, and its regulatory environment is favourable. Corporate PPAs are expected to be crucial in Taiwan, which has a clear regulatory framework for offshore wind. However, implementation may take some time. India has high investment and growth in alternative energy solutions, driven by demand from C&I customers, with a focus on hybrid-type solutions. Vietnam has many investors interested in its energy solutions, and has already been a leader in the region due to its solar capacity additions as part of its coal phase-out. Indonesia has room to grow in terms of renewable energy deployment, but has faced challenges with the tendering process and achieving grid-connected PPAs. There is also little visibility on how the carbon trading mechanism for coal plants will be implemented. Japan's corporate PPA market has seen a lot of interest, with batteries also becoming a major focus. However, there are concerns regarding the deliverability of some of the government targets, particularly given policy uncertainty and commodity price fluctuations. Support the show

In this episode, we’re delighted to welcome Julian Nebreda, CEO & President of Fluence, in a conversation with our Head of USA, Oliver Kerr and our Head of Advisory, US West, Felix Chow-Kambitsch. Julian leads the Fluence team and its efforts to accelerate energy storage adoption globally. Prior to joining Fluence, he had a distinguished career at the AES Corporation serving as President of the South America Strategic Business Unit and other multiple positions. Julian has over 20 years of experience in the energy industry as well as a remarkable expertise as a Fluence board member since September 2021. Main topics include: •The outlook for battery storage globally going forward •The evolution of battery business model and to what extent business ownership models need to change •The impact of the Inflation Reduction Act •How easy it is to scale battery optimisation in-house Support the show

This week on Energy Unplugged, we are delighted to welcome Daisuke Tsujimoto, co-founder of Renova Inc – a Japanese renewable and storage developer. Joined by our Managing Director of APAC & California, Hugo Batten, and Rowan von Spreckelsen, our Head of New Markets in APAC, this discussion focuses on the trajectory and strategy of Renova, the evolution of Japan’s power markets, and the politics and policies of energy security in Japan. Main topics include: •Market reforms in Japan including switching from Feed-in-Tariffs to Feed-in-Premiums and introduction of 20 yr capacity market •The future of Japan’s nuclear fleet •Network access reform and the challenge of connecting renewables and batteries in parts of Japan •Future demand for hydrogen and ammonia in Japan Support the show

In this episode we’re delighted to welcome Simon-Erik Ollus, EVP, Generation and Member of the Executive Management at Fortum in a conversation with our Nordics & Baltics Lead, Alexander Esser. Simon-Erik has been with Fortum since 2009 and held various roles in strategy and market intelligence and has been a member of the division’s management team since 2013. He has been appointed Executive Vice President of Fortum’s Generation division and member of Fortum’s Executive Management in March 2021. The Generation division is responsible for Fortum’s Nordic power generation in nuclear, hydro, and wind power plants. Simon-Erik and Alexander discuss: •Fortum’s new strategy after exiting Russia and Uniper •What’s missing in recent reform proposals for electricity market design •The role of nuclear in the Nordics Support the show

In this episode, we are delighted to welcome Kate Tuohy, Director, Energy at MUFG in a conversation with our Co-Head of Advisory in Central Europe, Thekla von Bülow. Kate has over 12 years’ project finance experience focusing on structuring and arranging project financing, financial advisory and restructuring across the infrastructure, power and renewables sectors. Kate joined MUFG in September 2019 from ESB, Ireland’s state electricity utility where she had responsibly for structuring debt and equity funding solutions for new generation projects (thermal, renewable and flexible generation) within ESB’s portfolio. Main topics include: •The renewables landscape in Europe, US & China •The offshore wind and differences in various European markets •The hydrogen investment space If you want to hear more from other global energy leaders, join the Aurora Spring Forum 2023 taking place on 29 March in Oxford, UK. The Forum offers a full day of intellectual engagement and thought-provoking analysis, with the opportunity to network with hundreds of the most influential players in the energy sector. The topic for this year focuses on: Facing New Realities: Rethinking Energy Use, Supply, and Policy in the Wake of the Global Energy Crisis. Spaces are limited so book your ticket now! Find out more at auroraer.com/events/spring-forum/ Support the show

This week, on Energy Unplugged, we welcome Keith Anderson, Chief Executive Officer of ScottishPower in a conversation with our Managing Director for UK & Ireland, Dan Monzani. Keith is the CEO of ScottishPower since 2018 and prior to being the CEO of ScottishPower, Keith spent 12 years as the CEO of ScottishPower Renewables. As part of Iberdrola, ScottishPower Renewables is one of the leading global wind companies with over 20 GW of installed capacity. Main topics include: •The value ScottishPower sees in maintaining an integrated business model •The level of ambition in grid networks and how do we deliver it to get to NetZero •The UK retail market, vulnerable consumers and how the future is looking for them If you want to hear more from Keith and other global energy leaders, join the Aurora Spring Forum 2023 taking place on 29 March in Oxford, UK. The Forum offers a full day of intellectual engagement and thought-provoking analysis, with the opportunity to network with hundreds of the most influential players in the energy sector. The topic for this year focuses on: Facing New Realities: Rethinking Energy Use, Supply, and Policy in the Wake of the Global Energy Crisis. Spaces are limited so book your ticket now! Find out more at https://auroraer.com/events/spring-forum/ Support the show

In this episode, our Co-Head of Advisory for Central Europe, Casmir Lorenz is joined by Deborah Harvey and Hugo Lidbetter, both Partners for Energy at Osborne Clarke. Deborah specialises in energy sector transactions and agreements and advises on a range of commercial and regulatory energy matters across a range of technologies. Hugo has particular expertise in project development work in the energy sector and in construction law in the energy industry, and is interested in all aspects of the Net Zero agenda having recently authored a book called "Decarbonising Energy: The Pathway to Net Zero". The focus of the conversation is on long-term offtake contracts, including: •The shift from subsidy support to revenue support/sharing •The role of shorter-term corporate and virtual Power Purchase Agreements (PPAs) •The revenue structuring and optimisation of co-located assets •Contract structuring for newer technologies such as hydrogen Support the show

In this episode, our Research Lead for European Power Markets, Ryan Alexander is joined by Ben Backwell, CEO of The Global Wind Energy Council (GWEC). Ben is a former journalist and analyst who has covered energy policy and markets in a number of geographies including Europe, the US and Latin America. Before joining GWEC, he worked for the global advisory company FTI Consulting, as a Managing Director in its Clean Energy Practice. Ben and Ryan take a global tour of the offshore wind discussing: •The offshore wind sector in the US and the impact of the Inflation Reduction Act •Europe’s challenges of having the largest installed capacity of offshore wind by region •Offshore wind targets in Asia and the massive expansion of renewables in China •Oil & gas majors moving into the offshore wind space and where we see the most promising markets Support the show

This week we have a very special episode on Energy Unplugged where we focus the discussion around a book. Our Managing Director in APAC & California, Hugo Batten and Kimberly Liu, our Head of Research in California are delighted to be joined by Katherine Blunt, Energy Reporter at The Wall Street Journal. Katherine is the author of “California Burning: The Fall of Pacific Gas and Electric and What it Means for America’s Power Grid”, a history of Pacific Gas and Electric (PG&E), one of California's major utilities. Main topics include: •PG&E and its major challenges were over last 10-15 years •The future of PG&E and how do they resolve their current challenges •Regulation of transmission as one of the central challenges identified in the book •The challenges of regulating the energy transition Support the show

In this episode, our Managing Director for Central Europe, Hanns Koenig is joined by Nils Aldag, Co-Founder and CEO, Sunfire, a leading manufacturer of electrolysers. Nils spent his entire professional life at Sunfire, company he co-founded in 2009, right after graduating from EBS Business School in Germany. He has been Chief Executive Officer since 2020 and previously he was Chief Commercial Officer and before that Chief Financial Officer of Sunfire. Nils and Hanns discuss: •Sunfire business and the motivation for founding a hydrogen start-up •The interaction between alkaline and solid oxide electrolysers and when solid oxide is expected to enter the market at scale •The European hydrogen space and where is the largest hydrogen demand coming from •Whether we are on track to meet the REPowerEU plan's target to produce 10 million tonnes and import 10 million tonnes of renewable hydrogen in the EU by 2023 Support the show

In this week’s episode, we’re delighted to welcome Julien Dumoulin-Smith, Managing Director at Bank of America’s (BofA) Securities, in a conversation with Julia Hoos, Aurora’s Head of USA East. Julien is a Managing Director in Bank of America’s Equity Research team covering US power, utilities, and alternative energy. He is a double ranked #1 analyst in both utility and alternative energy categories of the Institutional Investor All‐America Research Poll for several years. Julien has a BS in applied math and an MBA both from Columbia University. Main topics include: •The current state of the US power markets and the impact of the inflation reduction act (IRA) •The differences between vertically integrated and competitive power markets in the US•The future of batteries in the short and long term •The potential for carbon capture and storage (CCS) Support the show

This week on Energy Unplugged, we focus on what it takes to launch a successful hydrogen production project. We’re delighted to welcome Dalia Majumder-Russell, Partner at CMS UK in conversation with Emma Woodward, Project Leader on Aurora’s Advisory Team. Dalia is a partner in CMS’s Energy team in London, advising a wide range of investors, developers, utilities, lenders and governments on energy projects and infrastructure for over 10 years. She has extensive experience of negotiating power, gas and hydrogen offtake agreements and advising on carbon capture usage and storage (CCUS) projects in the UK and internationally. Dalia and Emma discuss: * Key considerations for what it takes to launch a successful hydrogen production project * Financial aspects developers should take into account for a bankable project * Pieces of the puzzle policy makers need to consider * Transport and storage – key issues and risks Support the show

This week on Energy Unplugged we have a special episode with focus on the UK Government’s Net Zero Strategy. Our Managing Director in UK & Ireland, Dan Monzani is delighted to be joined by Chris Skidmore MP. Chris is a senior Conservative MP and former Minister for Energy and Climate Change from 2018 to 2019 when he signed the UK’s Net Zero targets. Chris is the chair of the independent review of the UK's trajectory to Net Zero which was reported to the UK Government last Friday, the 13th January. Main topics include: •The arguments for doubling down on Net Zero now when the voters’ main concerns are related to the cost of living •Are gas-free homes by 2033 possible? How quickly we can get to a tipping point on heat pumps? •The funding commitments and the financial strategy for Net Zero •Net Zero and the energy security crisis Support the show

In this episode, Emma Woodward, Project Leader on Aurora’s Advisory Team is joined by Catherine Raw, Managing Director of SSE Thermal to discuss low-carbon flexibility with focus on hydrogen and gas CCS within the power sector. Catherine joined SSE in April 2022 where she is responsible for the strategy, performance and development of the company’s flexible power generation and energy storage activities. Previous to SSE, Catherine was Chief Operating Officer for North America and Chief Financial Officer for Barrick Gold and Managing Director and Fund Manager at Blackrock. Emma & Catherine discuss: •The importance of low-carbon flexibility in the power sector •Additional system needs and how thermal technologies might be able to provide low-carbon capacity •The work SSE is doing in this space •The progress needed in 2023 in order to support the development of low-carbon flexibility in the power sector Support the show

In this Energy Unplugged episode we discuss the implications of the US Inflation Reduction Act of 2022. Our Head of US Oliver Kerr is joined by Martin Anderson, Aurora’s Head of Research in US, Felix Chow-Kambitsch, Aurora’s Head of US West and Julia Hoos, Aurora’s Market Lead for PJM. The Inflation Reduction Act of 2022 (IRA) is the most significant piece of climate legislation in the US in over a decade, and aims to support accelerating the energy transition. Main topics include: •The state of the energy transition in the US and key differences compared to the European approach •How quickly can wind and solar scale given the constraints around supply chain and interconnection issues •What determines whether solar will take the production tax credit or the investment tax credit •The impact on power prices, on new build vs the existing assets and variations across markets Support the show

In this episode, we focus on an increasingly very hot topic which is battery business models in Europe. Our Managing Director for Central Europe, Hanns Koenig is joined by Aurora’s experts Marise Westbroek and Ryan Alexander. Ryan leads our European research team and one of their most popular reports this year has been the European Battery Markets Attractiveness, which looks into market and policy drivers for shaping the attractiveness of various markets for batteries across Europe. Marise is a Project Leader in our advisory team and specialises in flexibility markets. Over the past years she had led a massive multi-client study with focus on investing battery business cases in Germany, Netherlands and Belgium in particular. Main topics include: •The current market conditions for batteries, the impact of supply chain constraints and the high power prices across Europe •The characteristics developers would need today to be successful in such a complex market •Revenue streams development and implications on trading strategies for batteries •Individual and co-location business cases •Regulations and market design Support the show

In this episode, our Managing Director for Europe, Middle East & Africa, Manuel Koehler is joined by Horatio Evers, Managing Director, BASF Renewable Energy. BASF is the biggest chemical company in the world and in his current position, Horatio is responsible for the strategic direction and overall achievement of BASF’s Net Zero targets. Horatio is passionate about collecting, refurbishing and driving old racing bikes and through this reduces his CO2 output. Horatio and Manuel discuss: •BASF’s journey to decarbonisation and the company’s Net Zero targets •What kind of partnerships are important for BASF •The main changes that would need to happen at the policy level and why •The implications of the energy crisis in Europe on BASF from a renewables perspective Support the show

In this episode, our Managing Director of Aurora in APAC & California, Hugo Batten is delighted to be joined by Sheldon Kimber, CEO and Founder of Intersect Power and our Founder and CEO, John Feddersen. Intersect Power is one of the most successful and dynamic clean infrastructure companies in the US today. Sheldon has had a hugely impressive and diverse career in energy, spending time at Recurrent, Calpine and at Accenture before founding Intersect Power. He also lectures at the Haas School of Business, University of California Berkeley. Main topics include: •Intersect’s thinking about the future of energy markets and decarbonisation •The US energy markets and the future of utilities in California •The energy crisis in Europe Read more from Sheldon on The Nexus of Deep Decarbonization here: https://www.intersectpower.com/the-nexus-of-deep-decarbonization/ Support the show

In this episode, Nick Carter, Managing Director at Akaysha Energy and Weijie Mak, Aurora’s Head of Consulting in Australia join Hugo Batten, our Managing Director in APAC & California. Akaysha is a battery developer that has just had a major investment from Blackrock to help fund storage developments across APAC. Prior to Akaysha, Nick has worked at Macquarie, Tesla and AGL, as well as Toyota and General Motors. The focus of the discussion is very much on the nuances of battery and hydrogen investment cases in Australia and across other key Asian markets. Main topics include: •The evolution of battery investment cases in the next few years •Supply chain and CAPEX increases •The transaction with Akaysha and Blackrock that made news in Australia •Akaysha’s business plan when it comes to hydrogen Support the show

In this episode, our Managing Director in APAC and California, Hugo Batten and our CEO, John Feddersen are joined by Elliot Mainzer, President and CEO of the California Independent System Operator (CAISO). Elliot has had an impressive career in energy, spending time at Enron, 18 years at the Bonneville Power Administration where he rose to CEO, and over the last 3 years being the CEO of CAISO. Main topics include: •Californian energy markets - reality versus plans •Market design in CAISO evolving over the very long-term •Innovation in storage investment cases in CAISO Support the show

This is a special podcast episode featuring one of the speakers at the Aurora Hydrogen Conference 2022, taking place on Wednesday 9th November in London. Our Co-Head of Advisory in Central Europe, Thekla von Bülow speaks to Alexander Voigt, CEO and Co-Founder of HH2E. Alexander is a serial entrepreneur and one of the pioneers of the global energy transition. He has studied physics and started his career at an engineering bureau working on solar thermal solutions. He has founded several companies in the energy sector such as Solon in the solar space, Younicos in the battery space, Lumenion in the high temperature heat storage space, and as well as STOFF2 & HH2E in the hydrogen space. Thekla and Alexander discuss: • What does HH2E do? And what role will it play in the European hydrogen space? • How can the growth of the hydrogen economy be accelerated and what are the main hurdles? • What is the right way to integrate hydrogen in the wider energy system? • What will the future of the European hydrogen landscape look like, and what will be the role of non-EU imports? This discussion will be continued at our fully booked Hydrogen Conference on Wednesday 9th November in London. We hope to see you there! Support the show

In this episode, our Research Lead in Aurora’s Australian office James Ha is delighted to be joined by Frank Jotzo, Professor at the Australian National University and our Managing Director for Australia and California, Hugo Batten. Frank is a professor of environmental economics at the ANU’s Crawford School of Public Policy, the inaugural director at the Centre for Climate Economics and Policy, and Head of Energy at the ANU Institute for Climate, Energy & Disaster Solutions. He has been a lead author of the IPCC’s 5th and 6th Assessment Reports, and is the co-editor-in-chief of the journal Climate Policy. He has advised both the Australian and Indonesian Governments, and contributed to the Garnaut Climate Change Review. Main topics include: •Australia’s NetZero commitments and whether they are squaring with the goals of the Paris Agreement •Decarbonising the Australian economy and views on carbon pricing •Energy policy and the role of economic modelling Support the show

In this episode, our Founder and CEO, John Feddersen is delighted to welcome Jimmy Glotfelty, Commissioner on the Public Utility Commission of Texas (PUCT). With a distinguished career in public service in the electricity sector, Jimmy has been appointed as Commissioner on the PUCT in August 2021. Previously, he had several public senior roles including Senior Policy Advisor to U.S. Secretary of Energy Spencer Abraham, Energy Policy Director to Texas Governor George W. Bush and Legislative Director to Congressman Sam Johnson. He has also served as Founder and Executive Vice President of Clean Line Energy. Jimmy and John discuss: •The PUCT’s role in the US energy system •The impact of the Russian war in Europe and effects seen in the US •The Government’s role in enabling the electrification of the vehicle fleet Support the show

This episode is second in a series on global project finance, organized in partnership with SMBC Group. With a number of 4 episodes covering Europe, Australia, Asia and the US, this series is hosted by Aurora, with guests from SMBC Group, various law firms and Aurora. In this episode, we have our Managing Director in APAC & California, Hugo Batten talking to Jeremy Hasnip, Head of Energy Transition at SMBC, Elizabeth Charlesworth, Partner at Herbert Smith Freehills and Rowan von Spreckelsen, Principal at Aurora. Main topics include: •An overview of the project finance space in Australia •The largest areas for debate and negotiation at the moment •The impact of a higher-inflation and higher cost environment on typical project finance terms •The financing of newer technologies and the largest impediments to debt funding of storage Support the show

In this episode, our Managing Director for Australia and California, Hugo Batten is joined by Benn Barr, the Chief Executive of the Australian Energy Market Commission (AEMC) and James Ha, Aurora’s Project Lead in our Sydney team. AEMC is the rule maker in the Australian energy markets and decides on any proposed rule changes in Australia’s electricity and gas markets. Prior to joining the AEMC, Benn was Deputy Director General in the Queensland Department of Natural Resources, Mines and Energy. Main topics include: •The current priorities for the AEMC including the role of rule makers and the impact of the current crisis •The role of market modelling when it comes to challenges around market re-design •The pros and cons of capacity markets Support the show

This week on Energy Unplugged, Fraser Thompson, Co-founder & Chief Strategy Officer of Sun Cable joins our Managing Director for Australia and California, Hugo Batten and Weijie Mak, Aurora’s Head of Consulting across Asia-Pacific for our podcast episode. Fraser is the co-founder and Chief Strategy Officer for SunCable. He also founded AlphaBeta, an economic strategy consultancy headquartered in Singapore which has now been acquired by Access Partnership. Prior to this he spent 9 years at McKinsey, in particular, at McKinsey’s Global Institute. The main topics discussed include: •Key fundamentals of the Sun Cable project •Long-term trends in energy markets •Fraser’s career and the value of doing a PhD Support the show

This week on Energy Unplugged, we explore the debates surrounding the technical and topical issue of Locational Marginal Pricing (LMP). Drawing once again on the knowledge of some of Aurora’s global leadership: Dan Monzani, Managing Director of UK and Ireland, is joined by Hanns Koenig, Head of Consulting for Central and Eastern Europe, Hugo Batten - MD for Asia-Pacific and California and Oliver Kerr – Head of USA. The main questions the team sought out to answer are as follows: • What is LMP? • What is the context surrounding the economic/ market design for LMP? • What are the pros and cons of LMP? Support the show

Jeff Dimery, Managing Director & CEO of Alinta Energy joins our Managing Director for Australia and California, Hugo Batten, in our latest #EnergyUnplugged podcast episode. Jeff has had a long and distinguished career in Australian energy. He has held senior roles at AGL (another Australian “gentailer”) and is now the Managing Director and CEO of Alinta Energy, one of the major vertically integrated utilities in the Australian market. Hugo and Jeff discuss the following topics: •Unprecedented times caused by the current crisis facing the Australian energy market •The role of utility in decarbonising energy markets •Market design, focusing on capacity markets Support the show

In this week’s episode of Energy Unplugged, our Managing Director for UK and Ireland, Dan Monzani is delighted to be joined by Dan McGrail, Chief Executive at RenewableUK. Dan joined RenewableUK as Chief Executive in May 2021. Previously, during his time as a senior leader at Siemens for close to two decades, Dan played a critical role in the innovation and manufacture of key energy technologies including wind turbine blades and efficient thermal engines. As well as being the CEO of Siemens Engines until last year, Dan was also the Chair of the Association for Decentralised Energy from 2016 to 2019. The main topics include: •How broadly should green hydrogen be defined •What is needed to hit the government’s new offshore wind targets •The disruptions in the global supply chain •The current debates around market design Support the show

This week, we have a special Energy Unplugged podcast episode on the topic of the current energy price crisis and the implications for market design. The Head of our Berlin office, Hanns Koenig is joined by two very distinguished guests: Lion Hirth – Professor of Energy Policy at the Hertie School in Berlin and Robert Gross – Director at UKERC (The UK Energy Research Centre) and also a Professor of Energy Policy at Imperial College London. Lion is one of the leading thinkers on power market design in Europe and Rob is an authority in power market design in Great Britain. Main topics include: •What is going on in the European power markets at the moment •Why are power prices so high and what are the implications for market design •Splitting markets for renewables and conventional generation •Gas price caps for the power sector and the windfall tax Support the show

In this episode, our Managing Director in Australia and California, Hugo Batten is delighted to be joined by Rob Wheals, CEO and Managing Director of APA. APA is an energy infrastructure business with gas pipeline, electricity, solar and wind assets and the 30th largest publicly listed Australian company on the Australian Stock Exchange. Prior to APA, Rob had a varied career across tech, consulting, telco and energy. Rob and Hugo discuss: •The long-run impact of the current price/security of supply crises in Europe and Australia •The major steps needed to deliver a more orderly transition •Hydrogen and the timeline of cost competitiveness Support the show

In this episode, Hanns Koenig, our Head of Commissioned Projects for Central Europe, is joined by one of the leading voices of the Polish energy sector - Monika Morawiecka, Senior Advisor at The Regulatory Assistance Project (RAP). RAP is a think-tank advising predominantly governments in creating better energy sector regulation. Prior to RAP, Monika had a distinguished career in the energy sector, with more than 15 years at Poland's largest utility PGE. Her roles at PGE included Head of Strategy at PGE Group and CEO of PGE's Offshore Wind division, PGE Baltica. Hanns and Monika discuss: •The current state of the Polish energy market •The energy crisis and the impact of Russia’s war in Ukraine on the energy transition in Poland •The role offshore wind can play in the Polish energy mix Support the show

This week on Energy Unplugged we’re doing a deep dive on capacity markets with some of Aurora's leadership from around the world. Our Founder and CEO, John Feddersen is joined by Dan Monzani – MD for GB and Ireland, Hugo Batten - MD for Asia-Pacific and California and Oliver Kerr – Head of USA. The main questions we’re trying to answer are: 1) What are capacity markets?; 2) Why are they used?; and 3) When do they work? As in Europe capacity markets have largely won the debate, the focus is on markets outside Europe. Main topics include: •The core elements of capacity markets, procurement targets, timings & frequency of auctions •Political context and in what ways does it matter •Key strengths of the capacity markets Support the show

This week on Energy Unplugged, Hugo Batten and Oliver Kerr are joined by Jacob Mays, Assistant Professor at Cornell University’s School of Civil and Environmental Engineering. Prior to this role, Jacob studied at Harvard, Winconsin-Madison, and Northwestern. He’s been a management consultant, worked at FERC, and writes energy papers across a diverse range of topics. Listen to this ep to hear them discuss: - The role of energy modelling - Market design, in particular Jacob’s view on the wholesale-only vs capacity market plus wholesale debate - The role of academics in the energy transition Enjoy! Support the show

This week on Energy Unplugged, our MD for Australia and California Hugo Batten is joined by Founder and CEO of Edify Energy, John Cole. Edify has originated, financed and delivered 950 MW of utility scale solar PV and battery storage projects, with a strong pipeline of renewable, storage and green hydrogen projects to follow. John was recently included in The Australian newspaper’s Top 100 Green Power Players list. In this episode, Hugo and John discuss: •The current crisis, impact of the federal election, and redesign of the Australian market •Edify and the Riverina asset •John’s career, having co-founded 2 very successful renewables businesses in both UK and Australia Enjoy! Support the show