Energy Unplugged by Aurora

This episode is first 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 Ana Barillas, our Head of Iberia talking to Caroline Lytton, Managing Director, Head of Power & Renewables Global Structured Finance EMEA at SMBC, John Dewar, Partner at Milbank London and Casimir Lorenz, Principal at Aurora. Caroline has started working in project finance in 2003, she has always been focused on infrastructure having 12 years’ experience in oil and gas. 3 years ago she was asked to head up the SMBC power and renewables business. John has lots of experience in the sector, and with Milbank, which has one of the largest renewable practices in the world. He became a partner in the late 90’s and has worked on a series of IPP projects in the UK and Europe. At Milbank John works on renewable energy projects but also in the hydrogen space and the in EV and battery space. Casimir leads the renewable energy practice of Aurora’s consulting team for continental Europe and he has been active in the energy space for the last 10 years. Before joining Aurora 4 years ago he did a PhD in Energy Economics followed by a post-doc at the German Institute for Economic Research focussing on policy consulting. The main topics include: •The level of activity right now in the project finance space •The impact of a higher-inflation and higher cost environment on typical project finance terms •Merchant risk and the biggest uncertainty in power markets at the moment •Managing the policy and regulatory risk in the power sector from a project finance perspective Support the show

This is a replay of an older episode with Nora Mead Brownell, Former Commissioner FERC, Former Chair PG&E and Founding Partner of ESPY Energy Solutions. Nora will be one of the keynote speakers at the Aurora Spring Forum 2022 on 14 July. If you want to hear more from Nora and many other industry leaders, join our Spring Forum 2022 on 14 July in Oxford, UK. The topic is: Delivering the energy transition in a fractured world: Navigating price volatility, geopolitical risk, and supply chain disruption. Spaces are limited and are filling up quickly so book your ticket now! For more details check auroraer.com/events/spring-forum/ Our CEO John Feddersen discusses the energy transition in the US with his special guest Nora Mead Brownell, Co-Founder of ESPY Energy Solutions. Nora is a former commissioner at the Federal Energy Regulatory Commission (FERC) where she was nominated by President George W. Bush, and among many other previous roles she has also served as the Chair of the Board of Pacific Gas & Electric (PG&E). Topics covered include: • Women in the energy sector, and ESPY Energy Solutions as a women-owned business • The balance between state and federal responsibility in the US power sector • Upcoming US elections, and how the energy sector will look Support the show

This is a replay of an older episode with Greg Jackson, Founder and CEO of Octopus Energy. Greg will be one of the keynote speakers at the Aurora Spring Forum 2022 on 14 July. If you want to hear more from Greg and many other industry leaders, join our Spring Forum 2022 on 14 July in Oxford, UK. The topic is: Delivering the energy transition in a fractured world: Navigating price volatility, geopolitical risk, and supply chain disruption. Spaces are limited and are filling up quickly so book your ticket now! For more details check auroraer.com/events/spring-forum/ In this episode our CEO John Feddersen speaks to Greg Jackson, the Founder and CEO of Octopus Energy, one of the UK’s largest energy supplier businesses, and award-winning for its status as a provider of 100% sustainable energy. Octopus Energy Group recently announced the acquisition of its sister company, Octopus Renewables, bringing the retail and the generation side of energy together under one roof. Greg is one of the most successful entrepreneurs in the UK with a long career leading multiple software ventures among other businesses, and a Bachelor's degree in Economics from the University of Cambridge. John and Greg discuss: • The importance of policy in the current UK energy supply market • Understanding the customer experience and meeting customer’s needs • Weathering the debris of the Texas storms and cost-pass-through tariffs • The role of prices in power generation and investment Support the show

In this episode, our CEO John Feddersen is joined by Mark Collette, Managing Director of EnergyAustralia and Hugo Batten, Managing Director in Australia and California at Aurora. EnergyAustralia is one of Australia’s major vertical integrated energy gentailers. Mark has been with EnergyAustralia since 2003 and commenced as Managing Director in July 2021. He served as Chief Customer Officer from May 2019 until June 2021 and prior to leading EnergyAustralia’s retail business, Mark led the Energy business between 2015 and 2019. Former roles have included executive responsibility for policy, sustainability, strategy and other matters. Mark was appointed Chair of the Australian Energy Council (AEC) in December 2021. Main topics include: •The energy industry in Australia over the last decade •EnergyAustralia’s strategy for a Net Zero electricity system •Battery storage and the role for flexible assets in Australia •The long term review of Australia’s power market design, capacity payments and the introduction of a congestion management model If you want to hear more from Mark Collette and many other industry leaders, join our Spring Forum 2022 on 14 July in Oxford, UK. The topic is: Delivering the energy transition in a fractured world: Navigating price volatility, geopolitical risk, and supply chain disruption. Spaces are limited and are filling up quickly so book your ticket now! For more details check https://auroraer.com/events/spring-forum/ Support the show

This week is a very special one for Energy Unplugged as we celebrate 100 episodes and 2 years since we launched the podcast. In this 100 episode, our Head of Commissioned Projects in Central Europe, Hanns Koenig is joined by Antje Kanngiesser, CEO of Alpiq. Alpiq is a leading Swiss energy services provider and electricity producer in Europe. Antje’s professional background include Vice President of Group Markets & Services and Member of the Executive Board for BKW AG, various roles at Alpiq Group and Energie Ouest Suisse as well as Lawyer at S&K and GGSC, Berlin. Antje and Hanns discuss: •The role of Switzerland in the European energy transition •Alpiq’s strategy and activity across Europe •The impact of the current energy crisis in Europe on utilities Support the show

In this episode, our CEO, John Feddersen is joined by Paul Ezekiel, Founder, Chair and Chief Investment Officer of Amp Energy. Amp is primarily a renewable energy developer and operator with a focus across solar, wind and storage and with over 7GW of assets built or contracted since 2009. Amp is also a technology company and the Amp X platform contributes to accelerating the energy transition through a portfolio of disruptive technologies. Before Amp, Paul had a long history in the energy transition, being involved in clean energy for around two decades. Paul and John discuss: •Amp’s strategy and battery investing •Investment in green hydrogen and at what point lithium-ion stops being the most cost effective storage solution •The best market design for enabling batteries to provide all of their benefits Support the show

In this episode, our Research Director, Richard Howard is joined by Alice Delahunty, President of Electricity Transmission at National Grid. Alice is the first President of National Grid’s Electricity Transmission business, where she is responsible for the safe and efficient operation of the electricity transmission network for England and Wales. Prior to joining National Grid, Alice had a variety of roles at E.ON, culminating in Head of Offshore UK Wind Operations. The focus of the conversation is on grid networks, a critical enabler of the low carbon transition. Alice and Richard discuss: •The scale of network investment required as we add renewables to the system and move towards a zero-carbon electricity system •The challenges of delivering this critical infrastructure •The impact on consumers, affordability, and bills Support the show

In this episode, our Thekla von Bülow, Principal for Commissioned Projects at Aurora is joined by Flemming Sørensen, Vice President for Europe at LevelTen Energy, in a discussion about long-term green power purchase agreements (PPAs). LevelTen Energy is the leading provider of renewable transaction infrastructure, delivering the cloud-based software, centralized supply, automated analytics, and expertise required to accelerate clean energy transactions. Flemming leads LevelTen’s expansion efforts from the company’s European headquarters in Madrid. His previous roles have included wholesale market trading and management of risk portfolios for corporate consumers at Energi Danmark, energy procurement and implementation of an RE100 strategy for NovoNordisk, and most recently originating offshore wind PPAs from Orsted. Thekla and Flemming discuss: •Which are the hot and emerging PPA markets in Europe •PPA trends including virtual PPAs •The current PPA market situation including very high prices and how is this affecting the willingness to close PPAs Support the show

This week on Energy Unplugged, our Managing Director in Australia and California, Hugo Batten is joined by Brad Hopkins, General Manager of Commercial and Financial Markets at AEMO Services. With a variety of roles in the energy transition, most recently as a partner at KPMG and also at Macquarie, Brad is leading a lot of the work on the New South Wales Roadmap which aims to overhaul its energy markets and replace the coal capacity that is departing over the next decade. Brad and Hugo discuss: •The purpose and history of the New South Wales Roadmap and the role of AEMO Services in delivering and running the program •The major challenges to deliver the ambitious goals for 2030 with focus on transmission and supply chain concerns •The role of market modelling Support the show

In this episode, our CEO, John Feddersen is joined by As Tempelman, the CEO of Eneco and Jesse Hettema, our Research Lead for Dutch & Belgium power markets. Eneco is an electric utility in The Netherlands which specialises in retail, district heating, renewables and thermal generation. Eneco has committed to full climate neutrality by 2035 for all three scopes of emissions. Main topics include: * The current trends and the status of the energy transition in the Dutch market * The impact of the Russian war in Ukraine on the trajectory of decarbonisation globally * The role of big oil & gas companies in the energy transition Support the show

In this episode, our CEO, John Feddersen speaks to Sam Stranks, Leader of StranksLab at Cambridge University’s Department of Chemical Engineering & Biotechnology. Sam is at the forefront of research into the next generation of solar technology and his research focuses on the optical and electronic properties of emerging semiconductors including halide perovskites, carbon allotropes and organic semiconductors for low-cost electronics applications such as photovoltaics and lighting. John and Sam discuss: •Solar technology research and the trajectory for costs and efficiency •The ability of the private sector to engage Academia in order to commercialize new technologies •The role of solar in achieving Net Zero emissions globally •What has enabled Cambridge to be such a successful technical university over such a long period of time Support the show

This week on Energy Unplugged, our Managing Director in Australia and California, Hugo Batten speaks to Guillermo Bautista Alderete, Director of Market Analysis and Forecasting at California’s system operator (CAISO). Hugo and Guillermo are also joined by Rowan von Spreckelsen, Aurora’s Head of Research in Australia and California. Guillermo has had a distinguished 15 years career at CAISO, having come out of academia at the University of Waterloo in Canada where he received a Ph. D. in Electrical and Computer Engineering. Main topics include: •The role of the system operator over the next 5 to 10 years in the policy and market design space •The mechanisms that CAISO has introduced to help with the integration of renewables •The impact of new technologies such as offshore wind and hydrogen on the California market •Batteries economics and saturation of ancillary markets Support the show

This week on Energy Unplugged, we discuss energy security and the current energy crisis at just few hours since the UK Government has published its much anticipated energy security strategy. Our Managing Director for UK and Ireland, Dan Monzani, is delighted to welcome to the podcast the UK Secretary of State for Business, Energy and Industrial Strategy - Kwasi Kwarteng. The British Energy Security Strategy comes at a very challenging time for the global energy policy and sets out how Great Britain will accelerate homegrown power for greater energy independence. Main topics include: • Security of gas supply and UK’s access to the physical supply of gas for the next winter • The Government’s new commitments on hydrogen and its potential in decarbonisation • The longer term announcements on electricity security including technology announcements such as an increased target of 50 GW of offshore wind by 2030 • Market reform options in the UK and the bigger market interventions suggested in Europe, such as the Spanish Government’s proposal to cap wholesale prices charged by gas generators Support the show

This week on the podcast, our USA Country Lead, Oliver Kerr is joined by Jon Wellinghoff, Former Chairman of the Federal Energy Regulatory Commission (FERC) and current Chief Regulatory Officer at Voltus, the world’s leading platform for Distributed Energy Resources (DERs). With a distinguished career in the US energy sector, Jon was the longest serving Chairman of FERC during the Obama administration after he was appointed first as a commissioner by George W Bush in 2006. Jon and Oliver discuss: •The role of FERC and the Federal Government more broadly in the energy transition •The potential of demand-side response which remains a relatively small part of energy mix in US and the reason why haven’t we seen more progress •Whether it is possible to reach Net Zero with renewables, efficiency and demand-side response, or do we also need supply-side investment in other low carbon generation like nuclear, CCS, hydrogen, long-duration storage Support the show

In this episode, we are honoured to welcome the 29th Prime Minister of Australia - Malcolm Turnbull, in a conversation with our CEO, John Feddersen. Malcolm was the Prime Minister of Australia between 2015-2018, role in which he focussed heavily on decarbonisation. He announced and drove forward the Snowy Hydro 2.0 pumped hydro project, the largest in the Southern Hemisphere. Prior to entering politics he had successful careers as a lawyer, investment banker and journalist. Malcolm and John discuss: •The importance of long duration storage and why isn’t the market delivering large volumes right now •The technological competition for long duration storage technologies •The impact of Russia-Ukraine war on the energy transition globally •Whether energy sector policy is more difficult in Australia than elsewhere and why Support the show

In this episode, our CEO John Feddersen is joined by a veteran of the renewable energy industry - David Giordano, Global Head of Renewable Power at BlackRock. David has joined the BlackRock team upon its formation in 2011 and has played a key role in the development of BlackRock’s renewables platform. With more than 20 years of investment experience, David serves as Chairman of the Board of Directors for the American Council on Renewable Energy and is a Board member of the American Wind Energy Association. John and David discuss: •The changes in the process of deploying capital into renewable in the past 20 years •ESG investing and where are we in measuring and evaluating ESG performance of companies and investment funds •Developing renewables in regulated and non-regulated markets •The impact of the Russia-Ukraine war on the power industryNext week we welcome Malcolm Turnbull, Former Prime Minister of Australia. Stay tuned! Support the show

This week on Energy Unplugged, we discuss the role Long Duration Electricity Storage (LDES) could play in ensuring energy security in GB. Our Head of Commissioned Projects for Western Europe - Felix Chow-Kambitsch is joined by two Aurora experts: Emma Woodward, Senior Associate and Caroline Still, Associate. Aurora has recently published a report on the topic, key findings can be found here: https://auroraer.com/insight/long-duration-electricity-storage-in-gb-2/ Felix, Emma and Caroline discuss: •The role LDES plays in an energy system •How much LDES do we need in the UK and what energy system implications would LDES have •The UK government’s cap-and-floor mechanism to support LDESNext week we will welcome David Giordano, Global Head of Renewable Power at BlackRock. Stay tuned! Support the show

This week, we have a special episode on Energy Unplugged in which our experts discuss the ongoing crisis in the European energy sector and the impact of Russia-Ukraine war on the European gas markets. Our Head of Commissioned Projects in Central Europe, Hanns Koenig is joined by Anise Ganbold who leads our research team for Commodities and Hydrogen. Anise and the team have been looking for the past couple of weeks into this topic and have been producing a couple of reports. One report which has been released this week examines how a drop in available Russian gas export capacity, or supply, to Europe affects the European supply mix. More details can be found at: https://auroraer.com/insight/impact-of-ukraine-russia-conflict-on-european-gas-markets/ Anise and Hanns discuss: • A retrospective of what happened in the European gas market over the past few weeks • The European reliance on Russian gas and coal • The increase in gas and power prices and the impact on gas supply and demand Support the show

In this episode, our CEO John Feddersen is talking to Kellie Metcalf, Managing Partner at one of the leading energy transition investors - EnCap Investments. Kellie had a long and distinguished career in the power sector. She was a Senior Director at Pattern Development, a renewable energy and transmission development firm and held senior roles in power marketing and origination at Barclays and Fortis Bank. She began her career in 1995 at Enron North America and before her business career, Kellie was a First Lieutenant in the US Army. Kellie and John discuss: •The importance of a trading background for a C-suite of an electricity utility •The impact of the power crises in the US on the process of electricity market liberalisation •ESG investing and where are we in measuring and evaluating ESG performance of companies and investment funds Support the show

This week on Energy Unplugged we focus on energy data and digitalization. Our Managing Director for UK and Ireland, Dan Monzani is delighted to be joined by Laura Sandys, Non-Executive Director at SGN and at the Energy Systems Catapult. With a diverse career in energy and consumer’s rights, Laura has recently chaired two of the UK Government taskforces, one on energy data and the Energy Digitalization Taskforce which was recently launched by BEIS with the purpose to continue the Government’s focus on modernising the energy system. Dan and Laura discuss: •What would a world class digital energy system look like •The main recommendations on data and the progress made since 2019 plus the recent recommendations on digitalisation •The benefits of interoperability across the system •The need to rethink the role of the retail market as part of Net Zero Next week we will welcome Kellie Metcalf, Managing Partner, Energy Transition at EnCap Investments. Stay tuned! Support the show

In this episode, our CEO John Feddersen is joined by Pat Wood, III, former FERC Chairman and CEO at Hunt Energy Network. With a distinguished career in energy and the public service, Pat has served as Chairman of the Federal Energy Regulatory Commission (FERC) in the US under President George W. Bush, and of the Public Utility Commission of Texas (PUCT). He holds a B.S. degree in civil engineering from Texas A&M University and a J.D. from Harvard Law School. John & Pat discuss: * The role of the federal government in driving the push towards an increasingly clean, affordable and reliable power system * The biggest impediment to Biden’s plan to decarbonise the power grid by 2035 * The potential for batteries in the US power grid Next week on Energy Unplugged we will welcome Laura Sandys, Chair of the UK Government Energy Digitalisation Taskforce. Stay tuned! Support the show

In this episode, our Managing Director for UK and Ireland, Dan Monzani speaks to Louise Kingham, Senior Vice President for Europe & UK Head of Country at BP. Prior to joining BP in May 2021, Louise was the CEO of the Energy Institute for more than 20 years, role in which she had a unique broad perspective across the energy transition. Louise is one of the sixteen CEOs on the Energy Leaders’ Coalition, organised by Powerful Women, a major professional initiative that seeks to promote the growth and leadership development of women across the energy sector. Dan and Louise discuss: * Affordability across Europe and how governments should manage the massive impact of rising energy prices on those on the lowest incomes * BP's committment to reach Net Zero by 2050 and their focus to help the world get there too * The most likely use cases for hydrogen, where is most likely to be a cost effective part of the transition and BP's new partnership with Aberdeen City Council * Whether we are on track for the 40GW of offshore wind by 2030 target and what do we need to do to hit that Next week on Energy Unplugged we will welcome Pat Wood, III, CEO at Hunt Energy Network. Stay tuned! Support the show

In this episode, we’re taking a global perspective on the energy transition having as guests two experts in the field. Our Principal Benjamin Collie is joined by Sam Arie, Head of European Utilities Equity Research at UBS and Evangelos Gazis, Project Leader and Market Lead for South Eastern Europe at Aurora. Aurora and UBS worked together in the last few years in preparing a report on the state of the global energy transition with focus on emissions from the power sector. Main topics of the podcast include: •The scale of the challenge for investing to decarbonise •How much capital is needed to decarbonise some of the most difficult sectors and what are the implications for the global economy •The levels of carbon prices that might be needed across the economy to achieve the targets •The progress made at COP26 and the most likely next steps to be made by COP27 Next week on Energy Unplugged we will welcome Louise Kingham, Senior Vice President for Europe and Head of Country in the UK at BP. Stay tuned! Support the show

This week on Energy Unplugged, we discuss about how to decarbonize transport with Trudy Harrison MP, Parliamentary Under Secretary of State at the UK Department for Transport, in an episode hosted by our Research Director, Richard Howard. Trudy was appointed in the current role on 17 September 2021 and she was elected Conservative MP for Copeland in 2017. Her career outside politics includes working for Sellafield nuclear site and in renewable energy and sustainable community projects. Richard and Trudy discuss: •How does a Net Zero system need to look like and what are the key enabling technologies •What does government need to do to accelerate this shift •How do we ensure that the costs and fiscal impacts of this transition are manageable Next week we will welcome Sam Arie, Research Analyst at UBS. Stay tuned! Support the show

In this episode, our CEO John Feddersen is joined by Tony Cocker, Senior Independent Director of SSE plc. Tony is also Chair of Infinis Energy Management Ltd, a distributed power generator. Between 1996-2017 he worked for E.ON SE and Powergen in a number of roles, including Chair and CEO of E.ON UK and Chair and CEO of E.ON Energy Trading SE. John and Tony discuss: •The change in the role of a director in the renewables space •The future of the British retail power market •Reforms needed to most ease the transition to Net Zero •SSE as a major sponsor of COP26 Next week on Energy Unplugged we will welcome Trudy Harrison MP, Parliamentary Under Secretary of State at the Department for Transport. Stay tuned! Support the show

In this episode, our Managing Director in Australia Hugo Batten speaks to Farhad Billimoria, Energy Systems Researcher, Energy & Power Group at the University of Oxford and Rowan von Spreckelsen, Principal in our Sydney office. Farhard is currently completing his PhD on energy markets in Oxford and he has worked for Australia’s system operator AEMO, Mercer, CalPERS and AMP Capital Investors. The focus of the discussion is around the Australian energy market and incentive structures to bring on new renewables and firming capacity. Main topics include: •The major challenges and opportunities for renewables and storage investment in Australia •Market design reforms and incentive structures shifting through renewables •The New South Wales Government contracts structures, key components and implications for market participants Next week on Energy Unplugged we will welcome Tony Cocker, Senior Independent Director of SSE plc. Stay tuned! Support the show

This week on Energy Unplugged we have a Christmas special episode in which we focus on waste management and energy from waste in particular. Our Research Director, Richard Howard is joined by two waste experts: Julia Watsford, CEO at Enfinium, the largest pure-play waste-to-energy operator in the UK and Chris Jonas, Director at Tolvik Consulting, one of the expert advisors on waste markets in the UK and Europe. Main topics include: •COVID impact on the waste-to-energy sector •The role of waste management in the Net Zero transition •Views on a potential incineration tax •Negative emissions and the potential of energy from waste to incorporate CCS Support the show

In this episode, our Head of Commissioned Projects for Western Europe, Felix Chow-Kambitsch is talking to Boris Schucht, Chief Executive Officer of Urenco, an international supplier of uranium enrichment services. Boris joined Urenco in May 2019 from 50Hertz, the North-East German Transmission System Operator, where he has held the position of Chief Executive Officer since 2010. Previously he held a number of senior executive positions within the energy sector across Germany and Europe, including WEMAG AG and the Vattenfall Group. Felix and Boris discuss: •The role of nuclear in the energy transition and nuclear innovation •Key takeaways from COP26 and what is needed to ensure the targets are met •Pairing hydrogen and nuclear to decarbonize hard to abate sectors Next week on Energy Unplugged we will welcome Julia Watsford, CEO at Enfinium & Chris Jonas, Director at Tolvik Consulting. Stay tuned! Support the show

Our Commercial Manager Lisa Langer is joined by Christoph Strasser, Co-CEO of Pacifico Renewables Yield, a renewable energy producer with a quickly growing portfolio of roughly 170 MW. Christoph joined Pacifico Renewables Yield as Co-CEO in October 2019 and prior to that he spent few years in J.P. Morgan‘s Corporate & Investment Bank. Christoph has a B.Sc. in Business Administration from University of Mannheim and M.Sc. in Management from University of Mannheim and ESSEC Business School. Lisa and Christoph discuss: •Pacifico’s market expansion to The UK, Netherlands and Australia •Moving to less established markets and taking on merchant exposure in Pacifico’s projects •Power prices affecting renewables investment •The next big challenge for the energy transition Support the show

Thekla von Bülow, Principal for Commissioned Projects in our Berlin office is joined by Shaun Kingsbury, Chief Investment Officer of Just Climate. Shaun started his career working for Shell and in 2012 he has set up the world’s first low carbon investment bank – Green Investment Bank, which was later acquired by Macquarie Group. Currently Shaun is Chairman of Renewable Power Capital, Co-founder and Board member of Climate Transition Capital, Chairman of CNG Fuels and Chief Investment Officer of Just Climate, a new business launched in the beginning of November. The focus of the conversation is on sustainable finance and climate impact investment helping to accelerate climate action. Thekla and Shaun discuss: •Subsidy schemes for renewables vs. merchant / PPAs •The role of the private sector in investing into clean energy technologies •The ESG investment movement •Corporate PPAs as a tool for decarbonisation Support the show

In this episode, our Head of Commissioned Projects in Central Europe, Hanns Koenig is joined by Christian Thiel, CEO of EnergyNest, a high temperature energy storage company. Christian started his career at BMW and prior to joining EnergyNest in 2014 he worked as Investment Banker at UBS and as Consultant at McKinsey and he was the Vice President for Business Development and Marketing at Senvion. Christian has a PhD in Economics and Marketing focussing on designing sales structures in foreign markets. The focus of the discussion is around the importance of addressing industrial heat for reaching Net Zero. Main topics include: •EnergyNest’s technology and its role in the energy transition •The challenge of addressing the emissions coming from the heat sector •The current and future gas and carbon prices •Hydrogen vs electrification Support the show

With National Grid just announcing that the group expects profits to hit top end of range on soaring energy prices as a result of interconnectors, the focus of today's show is on interconnectors’ role in delivering NetZero and the North Sea Link project as the world’s longest subsea interconnector linking the UK and Norway. In this episode, our Managing Director for UK and Ireland - Dan Monzani is delighted to be joined by Cordi O’Hara, President of National Grid Ventures at National Grid. Cordi has more than 20 years’ experience in the energy industry, managing key relationships with government officials, regulators and customers. She began her career trading power and gas for Centrica and between 2014 and 2017 she was Director of the UK System Operator. Prior to joining National Grid Ventures, Cordi was Chief Operating Officer for the US Gas Business for National Grid. Dan and Cordi also discuss: •The UK’s 40GW offshore wind target by 2030 and the technical barriers to get there •COP26 and the opportunities for wider global cooperation on grids •The most attractive business environment for investing in hydrogen at the moment Support the show

In this episode we’re talking about power exchanges as a vital part of traded power markets. Our CEO John Feddersen is joined by Georg Aasen, Vice President at Nasdaq Commodities, which runs one of Europe’s largest power exchanges. Prior to this role, Georg was Head of Marketplace at Nord Pool and built up deep experience in the economics of power exchanges. John and Georg discuss: •The key characteristics of a successful power trader •Social contribution of markets and what would the European power market look like in the absence of power exchanges •The evolution of renewables offtake and PPAs •The future of non-power contracts and hydrogen Support the show

This week on Energy Unplugged we have a special episode which comes right after the UK Government published its Net Zero Strategy in response to the Climate Change Committee’s recommendations for the Sixth Carbon Budget and during COP26 taking place in Glasgow. Our Managing Director for UK and Ireland - Dan Monzani is joined by Lord Deben, Chairman of the Climate Change Committee (CCC) in a conversation about Net Zero and prospects for COP26. Lord Deben has over 50 years’ experience in public life, consistently as a deep influential voice on climate change and the environment. He was the UK’s longest-serving Secretary of State for the Environment (1993 to 1997) and he has held several other high-level ministerial posts, including Secretary of State for Agriculture, Fisheries and Food (1989 to 1993). Since 2012 he is the Chair of CCC, an independent, statutory body established under the Climate Change Act 2008 with the main purpose to advise the UK and devolved governments on emissions targets. Dan and Lord Deben discuss: •The UK’s Net Zero Strategy - in which sectors the Government's plans are most complete and where are there the biggest holes •The investment costs of Net Zero and who pays for it •COP26 and the key ingredients in a successful climate diplomacy Support the show

In this episode, our Managing Director in Australia, Hugo Batten is joined by Rupert Maloney, Head of Hydrogen at the Clean Energy Finance Corporation (CEFC) and Weijie Mak, Principal in Aurora’s office in Australia. Before joining CEFC, Rupert was General Manager of Strategy & Corporate Development at Ampol, an Australian fuels player, as well as a banker at Macquarie and a lawyer at Baker & McKenzie. The discussion is focused on hydrogen and the opportunities for developing a hydrogen industry in Australia. The main topics include: •Key takeaways of CEFC’s recent Australian hydrogen market study •Hydrogen as an export opportunity for Australia and prioritization of domestic opportunities •How the Europeans are designing their markets around hydrogen •The low electrolyzer CAPEX and the cost of capital reductions Support the show

In this episode, we continue the discussion on the role of world’s largest utilities in decarbonising society. Our CEO John Feddersen is talking to Alberto De Paoli, Chief Financial Officer (CFO) of Enel. Alberto was appointed CFO in November 2014 and joined the Enel Group in 2008 as CFO for Enel Green Power, the Group's renewable power generation subsidiary, a position he held until 2012. Between 2012 – 2014 he was the Head of Group Strategy. Alberto is also Co-chair of the UN Global Compact CFO Taskforce for the sustainable development goals. John and Alberto discuss: •Enel’s role in the energy transition and ensuring sustainability at the centre of the company’s business model •The driving force behind Enel’s internationalization •ESG investment movement and what has enabled it to grow the way it has Support the show

In this episode, our CEO John Feddersen is joined by Peter Cramton, Professor of Economics at the University of Cologne to discuss the future of power markets. Peter is one of the world’s foremost experts on electricity systems economics, he’s been a leading thinker in market design across energy, telecommunications and health procurements in the US, Europe and beyond. Since 1983, he has conducted research on auctions and market design, with a focus on the design of complex markets to best achieve goals. Between 2015-2021, he was an independent director of the board of the Electric Reliability Council of Texas (ERCOT). John and Peter discuss: •Whether privatisation of parts of the power markets worked globally in the sense that enhanced human welfare •The meaning and targets for decarbonisation in Europe vs the US •Security of supply and the impact of the recent events in ERCOT on capacity markets and energy only markets Support the show

Our Market Lead for Italy - Matteo Coriglioni speaks to Toni Volpe, CEO of Falck Renewables. Toni has been the CEO of Falck Renewables since 2016 and he started working in the energy industry at the Enel Group in 2004, where he covered several roles such as CEO of Enel Green Power North America in 2005 and Country Manager and CEO of Enel Romania in 2014. Falck Renewables is one of the biggest “pure players” in the European renewable energy sector, the Group has an installed capacity of 1.3 GW in UK, Italy, Spain, France, the Nordics and the United States, a project pipeline of more than 4.5 GW and manages around 4 GW of plants around the world (in more than 40 countries) on behalf of third parties; mostly wind onshore and solar. Matteo and Toni discuss: •The future of the energy transition and Falck Renewables’ strategy in terms of expanding to new markets and technologies •The role of policy in decarbonisation and renewables development •The impact of the Next Generation EU fund in accelerating the energy transition in Europe Support the show

Our Research Director Richard Howard speaks to Andrew Doyle, Executive Director MUFG. Andrew joined MUFG in March 2011 following the acquisition of a US$5bn project finance portfolio from RBS. He has over 15 years of project finance experience covering large thermal power and renewables projects across the UK, Europe and the Middle East. This is one of a series of episodes featuring energy transition leaders who will be speaking at our Spring Forum 2021. The Forum takes place in London on Wednesday 29th September. For more information go to auroraer.com/events/spring-forum/. Richard and Andrew discuss: •Hydrogen and business models that are emerging and how and when they will become bankable •By when will green hydrogen be cheap enough to compete with grey and blue hydrogen •The most attractive markets in Europe for hydrogen •Whether the UK Hydrogen strategy is ambitious enough Support the show

Our Head of Commissioned Projects in Central Europe, Hanns Koenig speaks to Christoph Torwegge - International Energy & Utilities Sector Leader at Osborne Clarke. Christoph leads a cross-border team advising clients across the energy sector on renewables, energy storage and energy innovation. He specialises in M&A and commercial law and supports funders, investors and developer clients in developing, investing in and financing projects in the renewables (solar, onshore wind and hydro) and other infrastructure sectors. This is one of a series of episodes featuring energy transition leaders who will be speaking at our Spring Forum 2021. The Forum takes place in London on Wednesday 29th September. For more information go to auroraer.com/events/spring-forum/. Hanns and Christoph discuss: •The role of lawyers in the energy transition •Renewables transactions and changes in the legal frameworks governing renewables •Areas for reform and where the law needs to change to reflect commercial realities on the ground Support the show

We have a very special episode for you this week on Energy Unplugged. Our CEO John Feddersen is talking to Markus Krebber, CEO of RWE AG about the role of the world’s largest utilities in decarbonising society. This is one of a series of episodes featuring energy transition leaders who will be speaking at our Spring Forum 2021. The Forum takes place in London on Wednesday 29th September. For more information go to https://auroraer.com/events/spring-forum/. John and Markus discuss: •RWE’s commitment to be carbon neutral by 2040 and the impact of such a commitment •The ramp-up of the hydrogen economy and how do we synchronize the investments cycles •EU’s climate ambition and what do we need to do to achieve the targets, where do we get the space for renewables and how can we accelerate planning and permitting processes Support the show

Our Managing Director in Australia - Hugo Batten is joined by Anna Skarbek, the CEO of ClimateWorks Australia, a not-for-profit decarbonisation think tank. Anna has been the CEO of ClimateWorks Australia for almost 12 years now and she has had a number of Board roles in Australia, from CEFC to Impact Investment Group to the Carbon Market Institute. She has been hugely influential in Australia’s decarbonisation debates, and has certainly carried the torch when things were darkest in Australia’s long journey towards Net Zero. Hugo and Anna discuss: •The recently released IPCC report and its impact in Australia •Decarbonisation debates in Australia over the last decade and the current status •Solar & solar thermal storage technologies as dominant drivers of decarbonising the power system Support the show

In this episode, our CEO John Feddersen is joined by Bruce Riley – Managing Director for Infrastructure and Project Finance at NatWest. The focus of the show is the evolving role of project and infrastructure finance in the energy transition. Bruce leads one of Europe’ largest and most influential energy infrastructure and project finance teams and he’s a veteran in Europe’s project finance industry, having spent his career entirely with Royal Bank of Scotland – NatWest. John and Bruce discuss: •How has project finance as a field changed over the past two and a half decades •The relevance of renewables low carbon finance for NatWest loan book & long term climate commitments •Financing coal assets and how decisions are made within the bank to not lend against a particular area on ESG grounds Support the show

Ed Birkett, Senior Research Fellow in the Energy and Environment unit at the Policy Exchange & Rachel Fletcher, Director Regulation and Economics at Octopus Energy join our Research Director Richard Howard for this week’s Energy Unplugged episode. The conversation focuses on the challenges around energy market design in a Net Zero world. Ed wrote a report last year called ‘Powering Net Zero - Why local electricity pricing holds the key to a Net Zero energy system’ which tackled the energy market design topic. Rachel is an experienced executive and regulatory expert, she spent many years at Ofgem in senior roles in retail markets, consumer protection, smart grids and networks, before moving to Ofwat as CEO and then more recently she has returned to the energy sector at Octopus Energy. Main topics include: •Is the current market design for power, gas, hydrogen and heating fit for purpose? •Will it deliver and enable the transition towards Net Zero? And if so, will it do so at the least costs for consumers? •How can we ensure security of supply and network operability, make sure we keep the lights on in a Net Zero world If you'd like to hear more about this topic join our in-person Aurora Spring Forum on Wednesday 29 September 2021 in Central London, where we will continue the discussion on market design to enable the Net Zero transition. More info available here: https://auroraer.com/events/spring-forum/ Support the show

Our Head of Commissioned Projects in Central Europe, Hanns Koenig speaks to Alexander Voigt, CEO of STOFF2 & Board Member and Founder of HH2E. Alexander is 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 STOFF2 & HH2E in the hydrogen space. Hanns and Alexander discuss: •Alexander’s journey and solar wind as a niche topic in the past •New technologies and concepts in the energy transition from battery & heat storage to hydrogen •Hydrogen economics and CO2 prices •Regulations needed to make the energy transition work Support the show

Our Head of Commissioned Projects in Central Europe, Hanns Koenig is joined by one of the key executives in European hydrogen - Sopna Sury, Chief Operating Officer for Hydrogen at RWE Generation. Previous to the current role, Sopna spent ten years in roles that have spanned leading Strategy and Regulatory Affairs at RWE Renewables, Energy Services and Infrastructure at Uniper, and Business Development at E.ON Climate and Renewables. Before entering the energy sector, she completed a bank training, then studied economics and joined McKinsey, where she spent almost 10 years. Hanns and Sopna discuss: •Sopna’s professional journey and the reasons for which RWE has a board member for hydrogen •The role of hydrogen in the energy transition and why is everybody getting excited about it •The controversial use of hydrogen in sectors such long distance road transport and heating •RWE’s hydrogen strategy and its role in this pretty crowded market Support the show

In this episode, our CEO John Feddersen is delighted to be joined by Stef Murphy and Paro Konar, Directors of Industrial Energy at Department for Business, Energy and Industrial Strategy (BEIS). Stef and Paro are job share directors for the Industrial Energy Directorate which provides focus and leadership of BEIS strategy, policy development and delivery on industrial energy issues, and also ensure that industrial energy policies maximise the economic opportunities to the UK from the global move to cleaner growth, as part of the overall Industrial Strategy. The focus of the conversation is around industrial decarbonisation as the UK government has published its strategy in March this year, and the upcoming hydrogen strategy. The main topics include: •Key challenges and opportunities for industry in the move to Net Zero •The progress against commitments in the UK’s Energy White Paper and the Ten Point Plan •The UK’s upcoming Hydrogen Strategy and what to expect from it •UK’s Emissions Trading Scheme (UK ETS), what did it take to set it up from scratch & lessons learnt since the early EU ETS in 2005 •The impact of EU’s Carbon Border Adjustment Mechanism (CBAM) on the UK industry NOTE: At ~ min. 23:15 in the recording the ‘Net Zero Hydrogen Fund’ supporting the development and adoption of hydrogen is mentioned and referred to as the £250 million fund. We would like to clarify that the ‘Net Zero Hydrogen Fund’ is £240 million. Support the show

Our Head of Iberia, Ana Barillas speaks to Federico Giannandrea, Partner and Head of Continental Europe at Foresight, a sustainability-led listed infrastructure and private equity investment manager. Federico joined Foresight in 2010 and leads Foresight’s infrastructure investments in continental Europe and the business development for infrastructure globally. Ana and Federico discuss: •How is renewable investment changing across Europe and value shifting across development stages •Vertical integration in development and construction •Local partnerships and how difficult is it to enter a new market Support the show

Our Managing Director in Australia - Hugo Batten speaks to Andrew Butler, Managing Director at Nectr – an Australian energy retailer that’s a subsidiary of the Korean group Hanwha. Andrew has successfully led three retail energy start-up ventures - Australian Power & Gas, Alinta Energy and now Nectr and he’s also spent time in telco and infrastructure more broadly. Hugo and Andrew discuss: •The retail space shift in Australia over last decades and other major aspects in the evolution of the Australian retail •Nectr and Octopus Energy Kraken Technology Platform •The state of Australian energy in terms of energy start-ups and innovation •Rising government intervention in energy markets with focus on wholesale and retail Support the show

Dolf Gielen, Director of the International Renewable Energy Agency (IRENA) Innovation and Technology Centre joins our Research Director Richard Howard for this week’s Energy Unplugged podcast. Dolf has been with IRENA for over 10 years, having previously been Chief of the Energy Efficiency and Policy Unit at UNIDO, and spending a number of years with IEA – starting as a Senior Energy Analyst and being promoted to Project Head of Energy Technology Scenarios.He has a strong engineering background, following his degree in Chemical Engineering with an MA in Environmental Sciences and a PhD in Energy and Materials Modelling. The interview covers a breadth of key market concerns around decarbonisation, focusing initially on IRENA's flagship publication setting out the pathway for a 1.5 degrees celsius ambition and closely examining the key issues and opportunities en route. The chat takes a deep dive into: •What we need to achieve •Hitting the targets by 2050 – what we can do with what we have, and the importance of joined-up thinking, including:oInterconnectionoFlexibilityoRetrofitoCarbon Capture and Storage •and crucially includes for the burning hot topics of the sector: 'kalte dunkelflaute' and green hydrogen Support the show