On one hand, tariffs are causing significant disruption in the global automotive industry. On the other, the electric vehicle (EV) market continues to surge, seemingly unaffected. According to the latest Q1 2025 data from Rho Motion, 4.1 million EVs were sold globally in Q1 2025—a 29% year-over-year increase compared to Q1 2024. Growth is particularly strong in China (+36%), followed by Europe (+22%) and North America (+16%).

To help make sense of these opposing dynamics—and to assess which OEMs are likely to lead or fall behind—Laurent and Gerard have brought in a top-tier expert: Michael J. Dunne. Michael is the CEO of Dunne Insights LLC, a San Diego-based firm specializing in electric vehicles, autonomous driving, and battery supply chains. With over three decades of experience, Michael has held prominent roles including President of General Motors Indonesia and Managing Director of JD Power China. He is also the author of American Wheels, Chinese Roads (2011), and the host of the podcast Driving With Dunne.

Key Insights from Our Conversation:

• China: BYD reigns supreme, followed by legacy brands, tech giants, and emerging players.
• Japan: Toyota, the shogun of the market, stands tall—while the rest struggle to keep up.
• Korea: A tale of strong potential under threat.
• Germany: VW appears stuck in reverse, Mercedes feels increasingly "Chinese," and BMW navigates a narrow path.
• USA: Stellantis, Ford, and GM—industries in limbo, often described as “zombies.”
• The Wild Card: Tesla. With Elon at the helm, anything is possible—genius or chaos.

Across all regions, we forecast who the likely winners are, who may barely survive, and who seem destined for the dustbin of history.

Laurent and Gerard sit down for an in-depth (and at times fiery) conversation with Ben Backwell, Chair of the Global Wind Energy Council (GWEC), to unpack the current state of the wind industry. Ben joins from Brazil, where preparations for COP30 are already underway.

As GWEC has just released its flagship Global Wind Report 2025—a must-read for anyone serious about the energy transition—they reflect on wind power’s progress. While the sector has continued to grow, it's been outpaced by solar and storage, grappling with supply chain bottlenecks, technical hurdles, and an all-out culture war driven by fossil fuel interests and political headwinds.

The discussion covers the recent struggles of the U.S. offshore wind sector.

We also dive into China’s meteoric rise, now dominating two-thirds of the global wind market with players like Goldwind, Envision, Windey, and Mingyang—now surpassing Western stalwarts such as Vestas, Siemens Energy, and GE Vernova.

Despite the noise and negativity—what Laurent refers to as “the enemies of freedom”—there’s reason to stay hopeful. Wind remains a cornerstone of clean, secure, and locally sourced energy in many regions.

Check out the full Global Wind Report 2025 from GWEC here: https://www.gwec.net/reports/globalwindreport

There's been a great deal of excitement and curiosity surrounding the idea of a Transatlantic Interconnector. So, as co-founders, Laurent Segalen and Simon Ludlam, alongside their adviser Gerard Reid, have decided to release a special episode to bring our listeners up to speed on where things currently stand.

While we can’t dive into our discussions with governments and system operators—those are protected by NDAs—rest assured, those conversations are very much underway, as you might expect. To put this episode together, we have brought in a range of perspectives:

• First, you'll hear an excerpt from a conversation with John Pettigrew, CEO of National Grid, on the Aurora Unplugged podcast last October, where he discusses the potential of ultra-long interconnectors.
• Next, we feature an interview with Laurent on the Jolts podcast from this February.
• That’s followed by a deep dive into the technical aspects with Cornelis Plet, Global Head of HVDC at DNV.
• We then explore the legal landscape with Silke Goldberg, partner at Herbert Smith Freehills and one of the world’s foremost legal experts in this area.
• And finally, we wrap up with a conversation between the co-founders, where Simon Ludlam lays out the key steps ahead in the coming months and Gerard engages with investors.

We hope this gives you a clearer picture of what has been accomplished so far—and what lies ahead on this ambitious journey.

A lot of information, reports and data are available on www.nato-l.org

As we start receiving data for the year 2024 in terms of Energy Production and Consumption, it is time to have a forensic analysis of the global Energy Complex in 2024.

Last month we had the always comprehensive IEA Global Energy Review, and now to go deep into Electrification, we just received the Ember's sixth Global Electricity Review. We brought in two of its three authors: Dr Katye Altieri and Nicolas Fulghum to discuss the main finding. We’re sorry Euan Graham, the third author, could not join.

Here are the key findings:

• Electricity growth is twice as fast as Energy Growth
• The world electricity consumption grew by the size of Japan (last decade it was annually the size of Brazil)
• 80% of that additional demand is met by renewables
• Demand drive is led by Cooling, Heating, Transportation and Datacenters
• World surpasses 40% clean power as renewables (incl. hydro and nuclear) see record rise
• Solar is the main driver of renewables growth, with generation doubling in three years 

And more findings in this comprehensive episode.

Thank you, Ember Energy.
Link to the report: https://ember-energy.org/latest-insights/global-electricity-review-2025/

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Other reports mentioned during the show:
IEA Report: https://www.iea.org/reports/global-energy-review-2025
IRENA Report: https://www.irena.org/Publications/2025/Mar/Renewable-capacity-statistics-2025

Capitalizing on the Infrastructure giants’ Blind Spots: How can a specialised PE fund thrive under the new US Administration?

The Energy Transition encompasses more than just power and AI. We have chosen to explore the niche yet crucial areas of waste gas, biofuels, sustainable aviation fuel (SAF), and emissions capture.

At the heart of this journey is Cresta, a $2 billion specialist fund positioned at the intersection of Private Equity and Infrastructure. Chris Rozzell, the fund's Managing Partner, shares insights on how a fund focused on industrial sectors can thrive in underappreciated sub-sectors like mid-stream infrastructure—areas often overlooked by larger, more traditional funds.

By adopting a strategy akin to a scavenger's approach, Cresta has capitalized on these opportunities. Chris also discusses the impact of the new US administration on his investment thesis and why choosing the Zag when everyone else is choosing the Zig has proven to be highly profitable.

While the Energy Transition is multifaceted, it is also fraught with blind spots. Cresta stands as a prime example of how industrial expertise can drive meaningful decarbonization efforts.

The discussion in this podcast is for informational purposes and should not be relied on as investment advice or an offer to sell or a solicitation for an offer to buy any securities. Any opinions expressed are those of the speaker and are subject to change. Listeners should not make investment decisions based solely on the information in this podcast.

Early March, Gerard and Laurent were invited by the Cambridge University Energy Technology Society (CUETS) for a live session of Redefining Energy.

In front of hundreds of attentive students, they had a comprehensive debate with Pr. David Cebon about the Electrification of Trucks. What are the issues (technical, economic) and what are the proposed solutions from Electric roads to batteries?

We enjoyed sharing with an enthusiastic crowd at St John's College, Cambridge and give a special thanks to Max Krefting for the flawless organisation.  

A memorable evening for all participants.

The XXIst century economy will be powered by 'critical minerals' such as lithium, nickel, cobalt, and rare earths. China has spent the past 20 years building a dominant position across the supply chain for these metals.

The rest of the world is finally waking up to the economic and geopolitical challenges that this presents and is actively trying to secure the supplies of critical minerals by creating non-Chinese supply chains.

Gerard and Laurent sat down with Richard Tite, Chief Investment Officer of TechMet, a critical minerals investment company that is partially owned by the U.S. Government through a series of equity investments by the U.S. International Development Finance Corporation (DFC). TechMet’s portfolio currently includes 10 projects across North America, South America, Africa, and Europe, that produce, process, and recycle critical minerals.

How does it work? What are the costs? Can China be countered? Does it succeed?

Are Critical Minerals truly critical? They are certainly polarizing.

Laurent welcomes Kristian Ruby, Secretary General of Eurelectric, to discuss Energy Security, Resilience and Flexibility though the impact of E-Mobility.

Energy Security has become a critical issue, especially with the recent sabotage of undersea cables in the Baltic Sea by Russian and Chinese vessels, extreme weather events knocking out a third of the Irish Grid, and Russia’s ongoing attacks on Ukraine’s energy infrastructure.

Kristian shares the story of his harrowing visit to a power plant in Ukraine, where DTEK engineers are bravely working through air raids every day to keep the lights on. The conversation expands to cover all aspects of Energy Security as we enter the Age of Electricity, exploring both cyber and physical measures that can be taken to protect energy systems.

The discussion also touches on the latest advancements in E-Mobility, including how Vehicle-to-Grid (V2G) technology can provide additional security and offer consumers a chance to earn more revenue.

Eurelectric represents a strong, forward-thinking industry that exemplifies resilience and solidarity in the face of challenges.  

Join us at Power Summit Brussels 3 and 4 June to discuss those topics and many others
Home - Eurelectric Power Summit 2025

It has become a tradition to welcome Luca Pedretti, Co-Founder of Pexapark, to the show to discuss the evolving PPA market, especially now that Pexapark has released its annual State of the Market report.
Laurent and Gerard are joined by Luca to highlight the key insights from this year’s findings:

• Corporate PPA demand remains stable, but with new entrants
• More deals, but smaller sizes: The number of transactions increased by 16% (+37 deals), even as total volumes declined.
• Innovative deal structures on the rise: Hybrid models, such as solar-wind PPAs, multi-buyer/portfolio arrangements, and cross-border agreements, are gaining traction, offering enhanced flexibility and risk-sharing.
• The continuous rise of 24/7 energy with the need to track and trade GoOs

We also delve into the topic of negative prices, capture prices, and their implications. The conversation extends to Pexapark’s predictions for 2025.

Additionally, we explore the growing role of batteries, new tolling agreements, and their impact, along with how batteries are increasingly incorporated into PPAs.

Finally, we turn our attention to the US market, discussing Pexapark’s first acquisition of a US company, Renewafi, marking a significant step in Pexapark’s american expansion.    

Link to Report: https://pexapark.com/pexapark-renewables-market-outlook-2025/
Link to Renewafi: https://www.renewafi.com/

As urgent calls for climate change action continue, an energy supercycle is underway, driven by the increasing need for electrification and digitalization, particularly in high-growth sectors like AI and data centers. Securing a reliable, affordable, and sustainable energy supply to meet this demand is crucial.

At the 2025 World Economic Forum Annual Meeting at Davos, Hitachi, Ltd. Executive Chairman Toshiaki Higashihara and Hitachi Energy CEO Andreas Schierenbeck, with Elisabeth V. Vardheim (Statnett) and Gerard Reid (Alexa Capital), participate in a panel discussion on 22 January 2025 to explore the parallels between today’s energy landscape and offer insights into how global stakeholders can drive change to address the climate crises.

In summary, how to turn couch potatoes into ironmen.   Laurent’s conclusion is that Davos is a perfect microcosm to capture CEOs’ Zeitgeist. And when you hear a global consensus, like 4 years ago on Net Zero and Climate and this year on AI… then it is probably time to SELL.  

This event is part of the Davos Accredited Programme. Full video here https://www.youtube.com/watch?v=vIXafAbc1gc