Energy Unplugged by Aurora

This week on Energy Unplugged, Richard Howard, Global Research Director at Aurora Energy Research, is joined by Michael Tobin CBE, one of the pioneers of the European data centre industry, former CEO of TelecityGroup and Non-Executive Director at Five Nines Group, alongside Sebastian Murphy, Director of Development & Innovation at Five Nines Group, to explore what it really takes to deliver data centre projects in Europe. 

Driven by AI, cloud computing and digitalisation, data centres are becoming one of the fastest-growing sources of electricity demand worldwide. But as power constraints, permitting challenges and supply chain bottlenecks intensify, can Europe remain competitive in the global race to build the infrastructure that will underpin the next generation of AI? 

Michael and Sebastian pull back the curtain on the realities of delivering data centres at scale, from securing scarce grid connections and navigating planning hurdles to managing supply chains, construction risk and ever-tightening sustainability requirements. They discuss why Europe's established data centre hubs are running out of room to grow, how regional markets are emerging as the next frontier for investment, and why access to power has become the industry's defining challenge. 

The episode also examines the shift towards AI inference facilities, the rise of behind-the-meter power solutions, and whether Europe has the regulatory framework needed to compete with the US and China. Along the way, the guests share firsthand insights from the front line of data centre development and make the case for what needs to change if Europe is to remain a serious player in the global AI race. 

You will learn: 

This week on Energy Unplugged, Anise Ganbold, Head of Research - Global Energy Markets & Hydrogen at Aurora Energy Research, is joined by Philip Norman, Partner and Head of International Arbitration at CMS. 

Long-term energy contracts are designed to create certainty. They underpin billion-dollar investments, support critical infrastructure, and help keep energy flowing across borders. 

But what happens when the world changes? 

From pandemics and sanctions to wars, shipping disruptions and political intervention, recent years have tested assumptions many contracts were built upon. As markets become more volatile, questions around risk allocation, force majeure and contractual flexibility are becoming increasingly important. 

Drawing on decades of experience in international energy disputes, Philip explains why contract terms often matter more than price, how legal systems approach disruption differently, and what happens when unforeseen events put agreements under pressure. 

The world's energy systems depend on long-term contracts. The challenge is making sure they can survive in a world that no longer feels predictable. 

Main topics include: 

This week on Energy Unplugged, Anise Ganbold, Head of Research - Global Energy Markets & Hydrogen at Aurora Energy Research, is joined by Philip Norman, Partner and Head of International Arbitration at CMS. 

Long-term energy contracts are designed to create certainty. They underpin billion-dollar investments, support critical infrastructure, and help keep energy flowing across borders. 

But what happens when the world changes? 

From pandemics and sanctions to wars, shipping disruptions and political intervention, recent years have tested assumptions many contracts were built upon. As markets become more volatile, questions around risk allocation, force majeure and contractual flexibility are becoming increasingly important. 

Drawing on decades of experience in international energy disputes, Philip explains why contract terms often matter more than price, how legal systems approach disruption differently, and what happens when unforeseen events put agreements under pressure. 

The world's energy systems depend on long-term contracts. The challenge is making sure they can survive in a world that no longer feels predictable. 

Main topics include: 

This week on Energy Unplugged, Ana Barillas, Managing Director for Iberia and Latin America at Aurora Energy Research, and Rodrigo Borges, Market Lead for Brazil, are joined by João Brito Martins, CEO of EDP Brazil. 

Brazil's energy transition has been one of the world's great success stories. Renewable capacity has expanded rapidly, solar deployment has surged, and the country has established itself as one of the largest and most dynamic power markets globally. 

But success has brought a new set of challenges. 

As curtailment rises, grid constraints intensify and investment in new renewable capacity slows; the conversation is shifting from how to build renewables to how to integrate them. At the same time, market liberalization is gathering pace; battery storage is preparing its first major auction, and policymakers face growing pressure to deliver the right signals for the next wave of investment. 

João reflects on how Brazil's power sector has evolved, why networks are becoming increasingly important, and what must change to unlock the country's next investment cycle. 

Brazil has shown it can deliver the energy transition at scale. The next challenge is creating a power system that can keep up. 

Main topics include: 

This week on Energy Unplugged, Ana Barillas, Managing Director for Iberia and Latin America at Aurora Energy Research, and Rodrigo Borges, Market Lead for Brazil, are joined by João Brito Martins, CEO of EDP Brazil. 

Brazil's energy transition has been one of the world's great success stories. Renewable capacity has expanded rapidly, solar deployment has surged, and the country has established itself as one of the largest and most dynamic power markets globally. 

But success has brought a new set of challenges. 

As curtailment rises, grid constraints intensify and investment in new renewable capacity slows; the conversation is shifting from how to build renewables to how to integrate them. At the same time, market liberalization is gathering pace; battery storage is preparing its first major auction, and policymakers face growing pressure to deliver the right signals for the next wave of investment. 

João reflects on how Brazil's power sector has evolved, why networks are becoming increasingly important, and what must change to unlock the country's next investment cycle. 

Brazil has shown it can deliver the energy transition at scale. The next challenge is creating a power system that can keep up. 

Main topics include: 

This week on Energy Unplugged, Hugo Batten, Managing Director of Aurora APAC, and Arthur Yanagisawa, Head of Advisory for Japan at Aurora Energy Research, are joined by Virginie Sandilya, Chief Investment Officer of Shizen International and Head of Project Finance for the Shizen Energy Group. 

Japan knows it needs batteries. The question is whether the market can build them fast enough. 

Investor appetite remains strong, but the industry's biggest challenges are no longer technological. Grid congestion, rising interest rates, revenue uncertainty and increasingly competitive access to transmission are creating new hurdles for developers trying to reach financial close. 

Drawing on experience from both the lending and development sides of the industry, Virginie shares her perspective on what separates successful projects from the rest, why bankability remains a central challenge, and how developers are navigating a rapidly evolving market. 

In many ways, Japan's battery market has reached an inflection point. Investor appetite is there. The technology is proven. The question is whether the market structure can keep up. 

Main topics include: 

This week on Energy Unplugged, Laura Picardo, Aurora Energy Research's Advisory Lead for Mexico, is joined by William Judd, Manager – Origination & Execution, LatAm at Cubico Sustainable Investments. 

After years of limited renewable deployment, Mexico's energy transition is moving again. 

New investment mechanisms, major regulatory reforms, and ambitious deployment targets are creating fresh momentum in one of Latin America's most important power markets. But this isn't simply a return to business as usual. Mexico is attempting to accelerate renewable deployment while integrating battery storage from the outset and building new partnerships between private developers and the state-owned utility, CFE. 

Drawing on Cubico's decade-long experience in the country, William discusses the market's resurgence, the opportunities created by the new mixed-investment model, and the realities of delivering large-scale renewable and storage projects on compressed timelines. 

The conversation also explores what Mexico can learn from markets like Chile and Uruguay, and whether the country can combine political ambition, private capital and strategic planning to deliver its next wave of clean energy growth. 

Main topics include: 

This week on Energy Unplugged, Laura Picardo, Aurora Energy Research's Advisory Lead for Mexico, is joined by William Judd, Manager – Origination & Execution, LatAm at Cubico Sustainable Investments. 

After years of limited renewable deployment, Mexico's energy transition is moving again. 

New investment mechanisms, major regulatory reforms, and ambitious deployment targets are creating fresh momentum in one of Latin America's most important power markets. But this isn't simply a return to business as usual. Mexico is attempting to accelerate renewable deployment while integrating battery storage from the outset and building new partnerships between private developers and the state-owned utility, CFE. 

Drawing on Cubico's decade-long experience in the country, William discusses the market's resurgence, the opportunities created by the new mixed-investment model, and the realities of delivering large-scale renewable and storage projects on compressed timelines. 

The conversation also explores what Mexico can learn from markets like Chile and Uruguay, and whether the country can combine political ambition, private capital and strategic planning to deliver its next wave of clean energy growth. 

Main topics include: 

This week on Energy Unplugged, Caroline Still, Aurora Energy Research's Market Lead for South Africa, is joined by Jan Fourie, CEO of Mulilo. 

Just a few years ago, South Africa's priority was clear: end load shedding. Today, the challenge looks very different. 

As private investment accelerates and the South African Wholesale Electricity Market (SAWEM) begins to take shape, the industry is shifting its focus from simply adding megawatts to building a power system that can deliver reliable, affordable electricity over the long term. 

Drawing on a front-row seat to South Africa's rapidly evolving power sector, Jan discusses why transmission has emerged as the industry's biggest bottleneck, how batteries are changing the economics of renewable energy, and why flexibility could become one of the most valuable commodities in the country's future electricity market. 

The conversation also explores the role of patient capital, the evolution of power procurement, and whether South Africa has the opportunity to do something few countries have managed successfully: build a competitive electricity market while simultaneously transforming its generation fleet. 

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This week on Energy Unplugged, Lara Panjkov, Aurora Energy Research's Head of Research for APAC, and Zelin Chen, Aurora's Market and Research Lead for China, are joined by Anders Hove, Senior Research Fellow at the Oxford Institute for Energy Studies. 

For years, the story of China's energy transition was one of scale: more solar, more wind, more batteries, more transmission. 

Now the challenge is changing. 

As renewable generation surges and power demand continues to grow, China's focus is shifting from building clean energy capacity to integrating it. That transition is exposing new questions around market design, system flexibility, provincial decision-making and the role of coal, gas and storage in an increasingly renewable power system. 

Drawing on more than a decade of experience studying China's energy sector, Anders reflects on China's rise from low-cost manufacturer to global clean energy leader and explains why the country's power sector has entered what he describes as its "messy midgame". 

The conversation explores the latest Five-Year Plan, the evolution of renewable support mechanisms, the growing importance of flexibility, and whether China's biggest challenge is no longer building infrastructure, but using it more effectively. 

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