The Pexapark Podcast
Welcome to The Pexapark Podcast, your fortnightly edit of impactful intelligence in renewable energy, Power Purchase Agreements (PPA) and beyond. Every two weeks, our COO & Co-Founder Luca Pedretti kicks off with key market, regulatory, pricing and deal making updates in Europe and North America.In the second part, Luca hosts an in-depth conversation with an industry expert, discussing candid perspectives on the critical trends shaping our sector. For more insights, register for a free Pexapark account here: https://go.pexapark.com/podcastsAbout UsPexapark is the price intelligence platform for clean energy, covering solar, wind, and battery storage across more than 20...
Meet the New Co-Hosts: Sylvia Leyva Martinez and Apostolis Valassas on the Trends Shaping 2027
The Pexapark Podcast is expanding its coverage of Europe and the United States with two new co-hosts: Apostolis Valassas, Head of Analysis Europe, and Sylvia Leyva Martinez, Head of Analysis US.
As the team starts work on Pexapark’s flagship Market Outlook, Luca Pedretti sits down with Apo and Sylvia to take a first look at the major trends shaping European and United States renewables and storage markets in 2027.
The picture differs on each side of the Atlantic. In Europe, PPA markets are rebalancing rather than shrinking, while flexibility pu...
What Is Going On with Renewable Asset Owners with Gerard Reid of Alexa Capital
Welcome back to the Pexapark Podcast!
In the first part of the episode, Luca Pedretti is joined by Gerard Reid, founding partner at Alexa Capital and co-host of the Redefining Energy podcast, to discuss why Europe's renewable asset owners are under pressure and who will finance, run, and win with renewables next. Starting from Gerard's recent piece on why asset owners have fallen behind, and the insolvency of German developer and IPP Enerparc, the conversation explores how years of cheap capital turned renewable assets into financial products rather than...
Co-Location, Flex and the Grid Connection Squeeze with Genna Boyle of Gridcog
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In the first part of the episode, Luca Pedretti talks to Genna Boyle, Chief Commercial Officer and Head of EMEA at Gridcog, about how grid connection scarcity is reshaping project design across global energy markets. Gridcog builds simulation software that helps developers, IPPs, and large load clients model co-located and tri-located projects across more than 40 markets, giving Genna a rare cross-market view of what’s working. The conversation compares how Great Britain, Spain, Germany, and Australia are each tackling flexibility and grid utilization differently, and wh...
The State of Europe's Data Centre Build with Michael Winterson of EUDCA
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In the first part of the episode, Luca Pedretti talks to Michael Winterson, CEO of the European Data Centre Association, about how Europe’s data center industry plans to power its next stage of growth. Michael walks through why Europe’s data center market is only about half the size of the US and Chinese markets, why capital is no longer the industry’s bottleneck, and why grid access has become its single biggest constraint, along with why onsite gas generation, common in the US, has li...
Turning a Yield-Co into an AI-Native, Next-Gen IPP with David Willemsen of Tion
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In the first part of the episode, Luca Pedretti is joined by David Willemsen, Chief Commercial and Chief Digitalisation Officer at Tion Renewables, to discuss why the yieldco model that once defined listed IPPs is under strain, and what a next-generation IPP looks like when rebuilt from the ground up. The conversation covers how Tion has built out its commercial and energy management teams, why it now develops much of its revenue and reporting software in-house, and where David sees the limits of relying on...
Private PPAs, Energy Release, and BESS: Inside Italy's Layered Power Market with Alice Cajani of Enfinity
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In the first part of the episode, Luca Pedretti sits down with Alice Cajani, General Manager of Enfinity Energy Europe, to discuss how Italy has become one of Europe's most active and most complex renewables markets. Enfinity has built its Italian business on private PPAs – including deals with Microsoft and Volkswagen – while layering in government-backed mechanisms such as Energy Release and FER X. The conversation explores how these public and private routes to market are starting to overlap, and how the market is shifting from rigi...
How Industrials Really Buy Power, and Why It Is Changing with Jens Lievens and Kathleen Peters of the E&C Group
Welcome back to The Pexapark Podcast!
Luca Pedretti is joined by Jens Lievens, CEO, and Kathleen Peters, Product Owner for Energy Transition Services at E&C Group, to explore how corporate energy procurement is changing as volatility, on-site generation, and evolving risk profiles reshape the way businesses buy power. Drawing on E&C Group's experience supporting industrial companies across more than 100 countries, the conversation examines why traditional full-supply contracts are giving way to more active, data-driven approaches to managing energy costs and risk.
Key themes from...
From Annual Green Claims to Structured Risk Management: How Corporate PPAs Are Evolving in a More Volatile, More Granular Market with Phil Dominy and Arbaaz Nayeem of EY
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Luca Pedretti sits down with Phil Dominy, Director, and Arbaaz Nayeem, Assistant Director, at EY to discuss how corporate PPAs are evolving as buyers place greater emphasis on risk management, price certainty, and commercial flexibility. As market volatility increases and procurement strategies become more sophisticated, the conversation explores how corporate PPAs are adapting to changing sustainability frameworks, evolving commercial structures, and new approaches to managing market risk.
Key themes from the discussion include:
Why corporate PPAs are increasingly viewed as...The New Rhythm: Large Loads and the Changing US PPA Market with Sean Boyle of Doral Renewables LLC
Welcome back to The Pexapark Podcast!
In the first part of the episode, Luca Pedretti sits down with Sean Boyle, Vice President of Markets at Doral Renewables LLC, to discuss how the US renewable energy market is evolving as AI-driven electricity demand, battery storage, and changing procurement strategies reshape renewable offtake. Drawing on Doral Renewables LLC's experience developing large-scale solar and storage projects across the US, the conversation explores how developers are adapting to changing buyer behavior, new contract structures, and the growing role of co-located solar and storage projects.
Key themes...
Inside Southeast Europe's Power Markets with Dimitar Enchev of CWP Global
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In the first part of the episode, Luca Pedretti sits down with Dimitar Enchev, Executive Director at CWP Global, to discuss why Southeast Europe remains one of Europe's most compelling renewable energy markets. Drawing on CWP's extensive development pipeline across the region, the conversation explores how wind, battery storage, corporate PPAs, and evolving market integration are reshaping investment opportunities across both EU and non-EU countries.
Key themes from the discussion include:
Why Southeast Europe continues to offer attractive opportunities for...Risk, Revenue & Resilience: The View from a Global Investor with Jordi Francesch of Nuveen
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In the first part of the episode, Luca Pedretti is joined by Jordi Francesch, Managing Director and Global Head of Asset Management at Nuveen, to discuss how renewable investors are navigating a market defined by falling capture prices, rising volatility, curtailment, and growing regulatory complexity. Drawing on experience managing a portfolio of more than 5 GW of solar and storage assets across multiple markets, Jordi shares his perspective on value creation, risk management, and the evolving role of battery storage in the energy transition.
Key themes from the...
From Oil Major to Energy Integrator: Managing 6 GW of Renewables with Maria Paz of Repsol
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In the first part of the episode, Luca Pedretti sits down with Maria Paz, Director of Energy Management and Thermal Generation at Repsol, to discuss what it takes to build and manage a large-scale renewable portfolio within an integrated energy company. With more than 6 GW of renewable capacity across Spain, the US, Chile, and Italy, Repsol offers a unique perspective on combining generation, retail demand, trading, and risk management under a single commercial strategy.
Key themes from the discussion include:
How Repsol...Co-location & Hybrid PPAs in Germany: What’s Real, What’s Priced, What’s Next
Welcome back to The Pexapark Podcast!
In the first part of the episode, Luca Pedretti sits down with Max von Hausen, Pexapark’s Regional Lead for PPA and BESS Transactions in the DACH region, to explore the rise of co-located renewable and battery projects – and what hybrid PPA structures actually look like in practice. Drawing from ongoing negotiations and market outreach across Europe, the conversation examines how developers, utilities, corporates, and lenders are approaching the rapidly evolving market for hybrid offtake agreements in Germany and beyond.
Key themes from the discussion:
Wh...The Missing Layer of Power Markets: Battery Optimization with Steffen SchĂĽlzchen of Entrix
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In the first part of the episode, Luca Pedretti speaks with Steffen Schülzchen, CEO and Founder of Entrix, about the rise of battery optimization and the role of software in turning flexibility into a scalable business. Entrix is one of Europe’s leading battery optimizers in the flexibility space, helping large-scale batteries operate across power markets, ancillary services, and evolving offtake structures.
Key themes from the discussion:
What a battery optimizer actually does – beyond simply “trading” batteries How Entrix uses softw...The AWS for Power: How Philipp Man of terralayr Wants to Shape the BESS Offtake Market
Welcome back to The Pexapark Podcast!
In the first part of the episode, Luca Pedretti speaks with Philipp Man, CEO and Founder of terralayr, about his vision for building a scalable platform for battery flexibility. The conversation explores how terralayr combines a BESS IPP model with a software-driven route to market, and how asset owners can structure revenues across contracted and merchant exposure, multiple optimizers, and evolving offtake products.
Key themes from the discussion:
Why flexibility is emerging as the next critical layer in energy marketsHow terralayr combines...An Overview of the US BESS Offtake Market: From Tolls to TB Swaps with Supria Ranade from JP Morgan
Welcome back to The Pexapark Podcast!
In the first part of the episode, Luca Pedretti is joined by Supria Ranade, Executive Director, Power Origination at J.P. Morgan, to explore the evolving landscape of the US battery offtake market. The discussion looks at how the market is moving beyond traditional tolling structures toward more sophisticated hedging solutions such as top-bottom (TB) swaps – and what this shift means for pricing, risk transfer, and market participants.
Key themes from the discussion:
How the US battery offtake market has evolved from tr...From Volume to Value: The Next Phase of Renewable Investing with Domenico Tripodi of AIP
Welcome back to The Pexapark Podcast!
In the first part of the episode, Luca Pedretti speaks with Domenico Tripodi, Partner and Co-Head of Investments at AIP Management, about how financial investors are navigating a renewables market shaped by merchant exposure, changing valuations, and shifting value pools. The conversation explores how private capital is adapting as the sector moves beyond the growth expectations of previous years toward a more complex investment environment.
Enjoy their conversation on topics including:
Why equity valuations and growth assumptions in parts of renewables were...Navigating the New IFRS Reality for PPA with Francisco Jimenez of EY
Welcome back to The Pexapark Podcast!
In the first part of the episode, Luca Pedretti sits down with Francesco Jimenez, Partner at EY, to break down a topic that has quickly become front-of-mind for many offtakers and developers: IFRS and PPA accounting. With new rules applying from January 1, 2026, the conversation looks at what has actually changed, why it matters, and how companies can prepare – especially when PPAs may trigger derivative accounting, fair value movements, and earnings volatility.
Enjoy their conversation on topics including:
What IFRS is – and why the...The Big Repricing: How Volatility and BESS Reshape Clean Energy Markets with Dominique Hischier of Pexapark
Welcome back to The Pexapark Podcast!
In the first part of the episode, Luca Pedretti is joined by Dominique Hischier, VP – Editorial & Analysis at Pexapark, to unpack the big theme of Pexapark’s Market Outlook 2026: “The Big Repricing – how volatility and BESS reshape clean energy markets.”
Enjoy their discussion on topics including:
What it means to operate in a renewables-dominated power systemWhy price volatility is becoming structural, not cyclicalHow lower capture rates, negative prices, and curtailment are reshaping revenuesWhy value is shifting from generation toward flexibility and BESSHow offtake is...Merchant Value & Volatility: Decoding BESS Bankability with Niels Jakeman of NORD/LB
Welcome back to The Pexapark Podcast! In the first part of the episode, Luca Pedretti is joined by Niels Jakeman, Head of Energy Origination Europe at NORD/LB, to explore how battery storage is being financed today and what lenders look for as the market matures. With around 30 GWh of storage financed globally and decades of experience across renewables and infrastructure finance, Niels offers a lender’s perspective on bankability, risk allocation, and how storage fits into the broader evolution of renewable project finance.
The discussion cuts straight to th...
Corporate PPA & The “Hourly Debate” with Jim Boyle of Sustainability Roundtable
Welcome back to The Pexapark Podcast!
In the first part of the episode, Luca Pedretti is joined by Jim Boyle, CEO and Founder of Sustainability Roundtable, for a wide-ranging conversation on how corporate renewable procurement is evolving across the US and Europe. Drawing on nearly two decades of buyer-side experience, Jim offers a nuanced perspective on how policy shifts, accounting standards, and market design are influencing deal flow and buyer behaviour. Enjoy their conversation on themes including:
Why the withdrawal of US clean energy tax credits appears to be accelerating...Risk, Discipline and the Evolution of Trading & Origination with Domenico De Luca of Axpo
Welcome back to The Pexapark Podcast! In the first part of the episode, we zoom out and look at how power markets are shifting across regulation, prices, and the wider energy world. ERCOT is launching real-time co-optimization and fully integrating BESS – the biggest reform since nodal pricing. Germany is moving toward dynamic grid fees that reward flexibility and penalize congestion. Denmark is abandoning “first come, first served” grid queues in favor of maturity-based prioritization.Â
At the same time, Europe’s renewables landscape has entered a phase of abundance: more negative prices, lower capture factors, and pressure...
The Next-Gen IPP Podcast Series | Zelestra’s Ivan Nieto Ruiz
Welcome back to The Pexapark Podcast! In this special edition, we explore how the new generation of Independent Power Producers (IPPs) are evolving from light, asset-based models into active, data-driven energy players.Â
In this episode Luca Pedretti sits down with Ivan Nieto-Ruiz, Chief Commercial Officer at Zelestra, to discuss how the global multi-technology IPP is reshaping its strategy across India, Europe, and the Americas. With operations spanning Italy, Germany, Spain, the US, and Latin America, Zelestra is building a customer-focused, hybrid portfolio – integrating solar, wind, and storage to deliver dispatchable, flexible ene...
The Next-Gen IPP Podcast Series | OX2’s Mehmet Energin
Welcome back to The Pexapark Podcast! In this special edition, we explore how leading developers are evolving into next-generation Independent Power Producers (IPPs).Â
In this episode Luca Pedretti sits down with Mehmet Energin, Chief Investment Officer at OX2, to discuss how the company is transitioning from a pure-play developer to an active renewable asset owner. With new shareholders, shifting market dynamics, and fast-moving technology, OX2 is building the commercial, digital, and strategic muscles needed to thrive in an era of volatility, capital scarcity, and hybrid portfolios.
Enjoy a d...
The Next-Gen IPP Podcast Series | Sonnedix’s Axel Thiemann
Welcome back to The Pexapark Podcast! In this special edition, we explore how leading renewables players are evolving into next-generation Independent Power Producers (IPPs).Â
In this episode Luca Pedretti sits down with Axel Thiemann, CEO at Sonnedix, to discuss how the company is transitioning from a solar-focused developer into a more diversified and customer-facing IPP active across ten markets.
Enjoy a discussion on themes including:
Redefining the IPP model: from feed-in tariffs to customer-facing renewable generationExpanding from solar into batteries and wind to meet evolving customer n...The Next-Gen IPP Podcast Series | Taaleri Energia’s Kai Rintala and Aleksi Nordlund
Welcome back to The Pexapark Podcast! In this special edition, we explore how investors and fund managers are building the next generation of Independent Power Producers (IPPs).Â
In this episode Luca Pedretti sits down with Kai Rintala, Managing Director and Aleksi Nordlund, Director of Power Markets at Taaleri Energia, to discuss how the Finnish renewables fund manager is evolving its model to capture more value across the energy value chain.
Enjoy a discussion on themes including:
The evolution from developer to full-spectrum value creator a...The Next-Gen IPP Podcast Series | Eurowind Energy’s Jesper Schaumburg-Düring
Welcome back to The Pexapark Podcast! In this special edition, we explore how Independent Power Producers (IPPs) are redefining what it means to own and optimize renewable assets in a fast-changing market.Â
In this episode Luca Pedretti sits down with Jesper Schaumburg-DĂĽring, Commercial Director at Eurowind Energy, to discuss how the Danish company has transformed from a traditional developer into a full-fledged, multi-technology IPP with ambitions to become a true power major.
 Enjoy a discussion on themes including:
The shift from developer to true IPP — ownin...The Next-Gen IPP Podcast Series | Nuveen Infrastructure’s Jordi Francesch and Pierre Bartholin
Welcome back to The Pexapark Podcast! In this special edition, we explore how investors are redefining Independent Power Producers (IPPs) for a new era of complexity and scale.Â
In this episode Luca Pedretti sits down with Jordi Francesch, Managing Director, and Pierre Bartholin, Senior Director and Head of Power Hedging and Origination at Nuveen Infrastructure, to discuss how the global investment manager is building next-generation IPPs under the Nuveen Clean Energy platform. With roots in Glennmont Partners, Nuveen Infrastructure operates across 12 markets and four core technologies – onshore and offshore win...
The Next-Gen IPP Podcast Series | Mirova’s Jérôme Tricot
Welcome back to The Pexapark Podcast! In this special edition, we look at how next-generation Independent Power Producers (IPPs) are becoming digital, data-driven operators.Â
In this episode Luca Pedretti is joined by Jérôme Tricot, Director, Asset Performance & Optimisation at Mirova, a Paris-based sustainable asset manager with ~€33bn AUM, including >€4bn invested in energy-transition infrastructure and a sixth fund currently in fundraising. Jérôme explains how Mirova invests in and alongside IPPs – developing, building, and operating renewables – while evolving capabilities for revenue management, hedging, and flexible, dispatchable portfolios.
Enjoy a...
The Next-Gen IPP Podcast Series | Nadara’s Joanna Ellis
Welcome back to The Pexapark Podcast! In this special edition, we explore how next-generation Independent Power Producers (IPPs) are evolving beyond development into active commercial and operational players.Â
In this episode Luca Pedretti sits down with Joanna Ellis, Chief Commercial Officer at Nadara, to discuss how the company – formed in 2024 through the merger of Renantis and Venti and Energy – is shaping the IPP-plus model. With over 4 GW of capacity across nine European markets, Nadara is expanding from onshore wind into solar and offshore wind while managing revenues end to end through in-ho...
Inside the Rise of Storage with Tom Thunell of Tyba
Welcome back to The Pexapark Podcast! In the first part of the episode, we look at how policy and markets are converging around storage and flexibility. Germany is preparing an industrial power price subsidy from 2026, offering 50 €/MWh for part of energy-intensive companies’ load over three years, while France’s EDF has widened access to its long-term nuclear-based contracts to thousands more companies beyond just heavy industry. Romania is launching a demand-side flexibility market, allowing large users to offer demand reductions in the day-ahead market and share revenues with consumers – part of a broader shift across Europe and the US t...
The Queen of PPAs: Natasha Luther-Jones on how Deal Making in Renewables & BESS is Evolving
Welcome back to The Pexapark Podcast! In the first part of the episode, we review key developments shaping renewable energy dealmaking. Across Europe, regulation is evolving to stabilize short-term markets and accelerate grid connections — from Germany refining its Energy Acts to allow grid charging for co-located assets, to Italy’s DL Energia decree and Energy Release 2.0 program supporting grid access and industrial demand. Spain is expediting storage permitting and introducing data center regulation to boost renewable electricity use. In the U.S., the “one big, beautiful bill” continues to define renewable policy, with tax credit eligibility requiring construc...
Ahead of RE-Source: SolarPower Europe’s Walburga Hemetsberger on Solar, Storage, and Europe’s Next Energy Chapter
Welcome back to The Pexapark Podcast! In the first part of the episode, we cover big shifts in renewables: France unveiled a revamped capacity market (centralized RTE-run auctions from November 2026) and a new injection tariff guiding storage behavior to ease grid congestion. Italy’s FER-X solar and wind auctions landed right in line with Pexapark’s fair-value benchmarks, while Germany’s Innovation auction showed sharper competition and only a small premium for solar-plus-storage projects. Meanwhile, data centers continue to dominate corporate PPA demand – around 30% of the total – with Northern Europe emerging as a key growth region. Across the Atlant...
Watt’s Up: Engie’s Take on BESS and 24/7 CFE
Welcome back to The Pexapark Podcast! In the first part of the episode, we cover big shifts in renewables: Europe’s day-ahead power market now trades in 15-minute intervals, boosting flexibility and volatility – a win for batteries and flexible demand. Switzerland’s new Acceleration Act aims to cut renewable permitting times dramatically, while Poland stands out with its first major BESS framework deal (1.3 GW / 5.2 GWh).
Elsewhere, Germany’s PPA market slowed, the Nordics stayed quiet, and in the UK, solar-plus-storage co-location continues to rise. Meanwhile, Google’s partnership with Shell Energy Europe ushers in a new era of 24...
The State of Co-Location. The Way forward for Hybrid PPA
Welcome back to The Pexapark Podcast! In the first part of the episode, we look at key market shifts: Germany launches a €500m guarantee scheme to revive its stalled PPA market, Italy’s FER-X auction confirms solar’s dominance with many projects now turning to PPAs at €54–60/MWh, and the Netherlands injects €1.2bn to rescue offshore wind. Battery revenues in Europe dipped on weak summer volatility but are already recovering, while the U.S. set a record with 4.9 GW of new storage in one quarter.
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In the second half, Jens Holstein – EVP Advisory at Pexapark – joins Luca Pedret...
State of the Spanish Offtake Market Post-Blackout
Welcome back to The Pexapark Podcast! In the first part of the episode, we dive into a fast-moving month for policy and pricing: the EU’s ETS review and fresh UK CfD momentum, a surprise SDE++ underspend in the Netherlands, and Spain’s storage-first push with generous capex support. We zoom in on market signals: Poland’s PPA landscape with easing risk discounts (notably for onshore wind) versus solar’s capture headwinds; the US split-screen of ERCOT’s storage boom and PJM’s hyperscaler-fueled demand premium; and why surging Nordic balancing costs are rewriting short-term risk and contract structures across Europ...
Unpacking the 5 Key Trends That Paint the Full Picture of Europe’s PPA & BESS Offtake Markets
Welcome back to The Pexapark Podcast! In this episode, we look at what shaped offtake in H1 2025. Wind remains under pressure – Europe is busy renegotiating old projects rather than launching new ones. Romania’s CfD round saw solar overshoot targets at ~€41.7/MWh, while wind missed volumes and pushed prices higher. In northern Sweden, oversupply has driven prices into the teens and forced curtailments, while Spain is fast-tracking co-located batteries after April’s blackout, though spreads remain too tight to add much PPA value. Meanwhile, the EU has introduced a new industrial support scheme to cut heavy-industry power costs in exchange...
PJM in Flux: Capacity Price Spikes, Renewables & How The World’s Largest Power Market Works
Welcome back to The Pexapark Podcast! In the first part of the episode, we unpack what’s been moving the renewable energy markets over the past weeks. From the sweeping impact of the “Big Beautiful Bill” reshaping U.S. clean energy, to PJM’s latest capacity auction price spikes, we explore how policy shifts and market dynamics are changing the trajectory of long-term renewables. Our deal tracker reveals surging utility PPA volumes, with Italy and Spain leading the way, while Poland firmly joins Europe’s front-rank of offtake markets – this time with its first landmark BESS transactions. We also touch on Ger...
From Data to Benchmarks: How Price Reporting Shapes Markets
Welcome back to The Pexapark Podcast! In the first part of the episode, we dive into recent developments shaping the renewable energy landscape, starting with the European Commission’s long-awaited assessment of the Guarantees of Origin (GoO) market. Hot topics include record-setting results from PJM’s latest capacity auction, implications of hyperscaler-driven demand, and the UK’s Allocation Round 7 for CfDs—and what all of this means for PPA pricing dynamics. We wrap up this section with a compelling look into why hyperscalers like Google are paying over $100/MWh for power—even as forward markets sit near $50—and what that tells u...
From Electrons to Intelligence: How Crusoe Powers AI with Modular, 24/7 Energy
Welcome back to The Pexapark Podcast! In the first part of the episode, we unpack Europe’s latest regulatory moves, starting with Italy’s FER-X auction, which drew over 20 GW in bids – double its cap – signaling a shift to a more mature offtake market. In Germany, BESS deal activity remains strong despite a court-backed BKZ grid levy. Meanwhile, the UK delivers long-awaited clarity: CfD tenors extended to 20 years and zonal pricing officially ruled out.
In the second part of the episode, Forrest Carroll – Energy & Infrastructure Lead at Crusoe – joins us to unpack how AI infrastructure is reshaping energy procu...
