The expansion of power and infrastructure to support the energy transition is unfolding against a complex backdrop. Policy uncertainty, geopolitical tension, and shifting market forces are colliding with record investment and a rapidly evolving mix of technologies. Ralph Ibendahl, Global Head of Energy Transition and Co-head of Power Utilities for Europe, assesses the challenges and opportunities with expert colleagues from the U.S., Canada, and Australia.

Key Points

• Increasing global power demand is leading to growth across all power types and grids.

• Policymakers need to balance affordability concerns with growth opportunities.

• Recent deals include financing for a major nuclear project in Canada, and build-out of Germany’s grid.

• Companies are drawing on a full mix of funding types, including infrastructure equity, private credit, and structured capital.

• Many companies are turning to the public markets, where valuations are stronger.

• RBC Capital Markets is guiding clients through this volatile market.