Transmission

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As more renewable energy connects to the grid, one question keeps coming up: who carries the risk when the wind doesn’t blow, or prices crash? The future of clean power doesn’t just depend on building more generation, it hinges on whether markets can give investors price certainty and revenue stability.

In this episode of Transmission, we explore how risk is traded, priced, and managed in modern power markets. We look at how hedging, PPAs, and virtual power contracts have evolved and why the clean energy transition needs smarter financial tools to scale. Lee Taylor, CEO of REsurety joins Quentin to share how market design, trading strategies, and better risk management can unlock new renewable investment when traditional PPAs fall short.

Key topics covered include:

• Why price volatility makes financing renewables harder and riskier.

• The rise of virtual PPAs and hedging instruments in clean energy.

• How merchant risk and cannibalisation impact renewable project value.

• Why new financial products are essential for scaling renewables globally.

• The future of power market design and investor confidence.

About our guest:

Lee Taylor is the founder and CEO of REsurety, a leader in energy risk management software and hedging solutions that help developers, investors, and offtakers manage revenue risk in power markets. For more information on REsurety, head to their website. https://resurety.com/

Want the latest news, analysis, and price indices from power markets around the globe - delivered to your inbox, every week?

Sign up for the Weekly Dispatch - Modo Energy’s unmissable newsletter.

https://bit.ly/TheWeeklyDispatch

As more renewable energy connects to the grid, one question keeps coming up: who carries the risk when the wind doesn’t blow, or prices crash? The future of clean power doesn’t just depend on building more generation, it hinges on whether markets can give investors price certainty and revenue stability.

In this episode of Transmission, we explore how risk is traded, priced, and managed in modern power markets. We look at how hedging, PPAs, and virtual power contracts have evolved and why the clean energy transition needs smarter financial tools to scale. Lee Taylor, CEO of REsurety joins Quentin to share how market design, trading strategies, and better risk management can unlock new renewable investment when traditional PPAs fall short.

Key topics covered include:

• Why price volatility makes financing renewables harder and riskier.

• The rise of virtual PPAs and hedging instruments in clean energy.

• How merchant risk and cannibalisation impact renewable project value.

• Why new financial products are essential for scaling renewables globally.

• The future of power market design and investor confidence.

About our guest:

Lee Taylor is the founder and CEO of REsurety, a leader in energy risk management software and hedging solutions that help developers, investors, and offtakers manage revenue risk in power markets. For more information on REsurety, head to their website https://resurety.com/

About Modo Energy:

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our interviews are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, conversations, data visualizations, live events, and more, follow us on LinkedIn. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

Want the latest news, analysis, and price indices from power markets around the globe - delivered to your inbox, every week?

Sign up for the Weekly Dispatch - Modo Energy’s unmissable newsletter.

Carbon markets promise a simple solution: buy a credit, offset an emission. But behind the scenes, things aren’t so straightforward. With credits treated like commodities but rarely verified with precision, buyers face a fundamental question: how do you prove the real impact of the carbon you’re paying for?

In this conversation, Tommy Ricketts, co-founder and CEO of BeZero Carbon, unpacks why trust and transparency are the biggest challenges in voluntary carbon markets. He explains how ratings, methodologies, and science can bring confidence to an opaque system and why rigorous evaluation of carbon projects is essential if markets are to play a serious role in achieving net zero.

• Why carbon credits function like commodities and why that’s a problem.

•The challenge of proving impact in voluntary carbon markets.

• How carbon ratings bring scientific evidence and confidence to credits.

• The role of probability and risk in assessing climate impact.

• Why transparency and trust are essential if carbon markets are to scale.

About our guest

Tommy Ricketts is co-founder and CEO of BeZero Carbon, a global carbon ratings agency providing independent assessments of the quality and impact of carbon credits to help markets scale with integrity. For more information on BeZero Carbon, head to their website.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our interviews are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, conversations, data visualizations, live events, and more, follow us on LinkedIn. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

Carbon markets promise a simple solution: buy a credit, offset an emission. But behind the scenes, things aren’t so straightforward. With credits treated like commodities but rarely verified with precision, buyers face a fundamental question: how do you prove the real impact of the carbon you’re paying for?

In this conversation, Tommy Ricketts, co-founder and CEO of BeZero Carbon, unpacks why trust and transparency are the biggest challenges in voluntary carbon markets. He explains how ratings, methodologies, and science can bring confidence to an opaque system and why rigorous evaluation of carbon projects is essential if markets are to play a serious role in achieving net zero.

• Why carbon credits function like commodities and why that’s a problem.

•The challenge of proving impact in voluntary carbon markets.

• How carbon ratings bring scientific evidence and confidence to credits.

• The role of probability and risk in assessing climate impact.

• Why transparency and trust are essential if carbon markets are to scale.

About our guest

Tommy Ricketts is co-founder and CEO of BeZero Carbon, a global carbon ratings agency providing independent assessments of the quality and impact of carbon credits to help markets scale with integrity. For more information on BeZero Carbon, head to their website.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our interviews are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, conversations, data visualizations, live events, and more, follow us on LinkedIn. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

Want the latest news, analysis, and price indices from power markets around the globe - delivered to your inbox, every week?

Sign up for the Weekly Dispatch - Modo Energy’s unmissable newsletter.

California’s clean energy story is often told through solar and batteries, but the real challenge isn’t building the technology, it’s connecting it. Across the state, schools, water districts, and city governments want to deploy microgrids to cut costs and boost resilience, yet many projects are stuck in interconnection queues, waiting years to come online. The result? Communities lose out on cheaper, cleaner power, and essential services remain exposed to grid instability.

In this episode of Transmission, we hear from Ali Chehrehsaz, CEO of TerraVerde Energy, who has spent over 15 years helping California’s public agencies navigate this landscape. He explains why interconnection has become the biggest bottleneck for solar and storage, how agencies can take control of their energy future, and what reforms are needed to deliver resilience at scale. It’s a conversation about turning ambition into action and about building clean power where it matters most.

Key topics covered:

• Why interconnection, not incentives, is now the biggest barrier for solar and storage.

• How microgrids can cut costs and strengthen resilience for schools, cities, and water districts.

• The lessons from 15+ years of deploying clean energy in California.

• Why public agencies are uniquely positioned to lead in the transition.

• What reforms are needed to fix the queue and speed up deployment.

About our guest:

Ali Chehrehsazis CEO of TerraVerde Energy, advising public agencies across California on deploying microgrids, solar, and batteries to cut costs, improve resilience, and accelerate the clean energy transition. For more information on TerraVerde, head to their website.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our interviews are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, conversations, data visualizations, live events, and more, follow us on LinkedIn. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

Want the latest news, analysis, and price indices from power markets around the globe - delivered to your inbox, every week?

Sign up for the Weekly Dispatch - Modo Energy’s unmissable newsletter.

California’s clean energy story is often told through solar and batteries, but the real challenge isn’t building the technology, it’s connecting it. Across the state, schools, water districts, and city governments want to deploy microgrids to cut costs and boost resilience, yet many projects are stuck in interconnection queues, waiting years to come online. The result? Communities lose out on cheaper, cleaner power, and essential services remain exposed to grid instability.

In this episode of Transmission, we hear from Ali Chehrehsaz, CEO of TerraVerde Energy, who has spent over 15 years helping California’s public agencies navigate this landscape. He explains why interconnection has become the biggest bottleneck for solar and storage, how agencies can take control of their energy future, and what reforms are needed to deliver resilience at scale. It’s a conversation about turning ambition into action and about building clean power where it matters most.

Key topics covered:

• Why interconnection, not incentives, is now the biggest barrier for solar and storage.

• How microgrids can cut costs and strengthen resilience for schools, cities, and water districts.

• The lessons from 15+ years of deploying clean energy in California.

• Why public agencies are uniquely positioned to lead in the transition.

• What reforms are needed to fix the queue and speed up deployment.

About our guest:

Ali Chehrehsazis CEO of TerraVerde Energy, advising public agencies across California on deploying microgrids, solar, and batteries to cut costs, improve resilience, and accelerate the clean energy transition. For more information on TerraVerde, head to their website.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our interviews are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, conversations, data visualizations, live events, and more, follow us on LinkedIn. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

Want the latest news, analysis, and price indices from power markets around the globe - delivered to your inbox, every week?

Sign up for the Weekly Dispatch - Modo Energy’s unmissable newsletter.

Australia’s energy system is at a tipping point. As more renewables come online, the challenge is no longer just about building generation but about ensuring the grid can handle it reliably, affordably, and at speed. Without flexible infrastructure, bottlenecks grow, projects stall, and costs climb.

In this episode, Wendel is joined by Alex Wonhas. The conversation explores how projects like Bulable One are redefining what batteries can deliver, how connections reform is shaping deployment, and how equity-sharing with First Nations groups could set a new standard for community benefit. We also look at what Australia’s experience can teach the world about scaling storage and sharing the gains of the clean energy transition fairly.

Key topics covered include:

• How the Bulable One project is setting new benchmarks for battery storage in Australia.

• Why the Integrated System Plan (ISP) positions storage as the backbone of a renewable grid.

• What connections reform means for speeding up the pipeline of projects.

• How equity-sharing with First Nations communities can shape a fairer energy transition.

• What the rest of the world can learn from Australia’s approach to scaling storage and renewables.

About our guest

Alex Wonhas is CEO of Ampyr Australia, where he is leading the company’s expansion into large-scale renewables and storage across the NEM. With a career spanning system design at the Australian Energy Market Operator (AEMO) and senior leadership in global engineering consultancy, Alex brings deep expertise in how to plan, build, and operate complex power systems. For more information on AMPYR, head to their website.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our interviews are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, conversations, data visualizations, live events, and more, follow us on LinkedIn. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

Want the latest news, analysis, and price indices from power markets around the globe - delivered to your inbox, every week?

Sign up for the Weekly Dispatch - Modo Energy’s unmissable newsletter.

Australia’s energy system is at a tipping point. As more renewables come online, the challenge is no longer just about building generation but about ensuring the grid can handle it reliably, affordably, and at speed. Without flexible infrastructure, bottlenecks grow, projects stall, and costs climb.

In this episode, Wendel is joined by Alex Wonhas. The conversation explores how projects like Bulable One are redefining what batteries can deliver, how connections reform is shaping deployment, and how equity-sharing with First Nations groups could set a new standard for community benefit. We also look at what Australia’s experience can teach the world about scaling storage and sharing the gains of the clean energy transition fairly.

Key topics covered include:

• How the Bulable One project is setting new benchmarks for battery storage in Australia.

• Why the Integrated System Plan (ISP) positions storage as the backbone of a renewable grid.

• What connections reform means for speeding up the pipeline of projects.

• How equity-sharing with First Nations communities can shape a fairer energy transition.

• What the rest of the world can learn from Australia’s approach to scaling storage and renewables.

About our guest

Alex Wonhas is CEO of Ampyr Australia, where he is leading the company’s expansion into large-scale renewables and storage across the NEM. With a career spanning system design at the Australian Energy Market Operator (AEMO) and senior leadership in global engineering consultancy, Alex brings deep expertise in how to plan, build, and operate complex power systems. For more information on AMPYR, head to their website.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our interviews are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, conversations, data visualizations, live events, and more, follow us on LinkedIn. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

Want the latest news, analysis, and price indices from power markets around the globe - delivered to your inbox, every week?

Sign up for the Weekly Dispatch - Modo Energy’s unmissable newsletter.

How do public markets really view the energy transition? And what signals are investors looking for before they back the companies building tomorrow’s energy system? Financing the energy transition isn’t just about building projects, it’s about convincing capital markets to back them. Uncertainty around policy, regulation, and profitability often slows the flow of capital into clean energy and without clear signals, institutional investors may hesitate, leaving projects underfunded and slowing down the pace of change.

So what will it take to unlock that investment at scale? In this conversation, Quentin is joined by Shanu Mathew, Senior Vice President and Portfolio Manager at Lazard Asset Management, explains how public markets view the risks and opportunities of the transition. He shares what investors are really looking for, from policy clarity to proof of long-term returns and how these signals can accelerate the deployment of capital into the companies and technologies shaping our net zero future.

Key topics covered include:

• How public markets evaluate energy and climate-focused companies.

• The signals investors want to see before deploying capital.

• Why policy clarity and consistency are critical for unlocking investment.

• The impact of market volatility, interest rates, and geopolitics on investor appetite.

• What listed markets reveal about the future shape of the energy transition.

Note: Our guest caught a slip of the tongue—at timestamps 22:52, 23:08, and 23:21, they said "per square foot" but meant "per megawatt."

About our guest

Shanu Mathew is Senior Vice President and Portfolio Manager at Lazard Asset Management, where he manages global public equity portfolios for institutional investors. With a focus on energy and climate, he brings a unique perspective on how public markets assess risk, opportunity, and long-term value in the transition to net zero. His insights highlight what investors need to see to unlock capital at scale for the clean energy transition. For more information on Lazard Asset Management - head to their website.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our interviews are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, conversations, data visualizations, live events, and more, follow us on LinkedIn. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

Want the latest news, analysis, and price indices from power markets around the globe - delivered to your inbox, every week?

Sign up for the Weekly Dispatch - Modo Energy’s unmissable newsletter.

How do public markets really view the energy transition? And what signals are investors looking for before they back the companies building tomorrow’s energy system? Financing the energy transition isn’t just about building projects, it’s about convincing capital markets to back them. Uncertainty around policy, regulation, and profitability often slows the flow of capital into clean energy and without clear signals, institutional investors may hesitate, leaving projects underfunded and slowing down the pace of change.

So what will it take to unlock that investment at scale? In this conversation, Quentin is joined by Shanu Mathew, Senior Vice President and Portfolio Manager at Lazard Asset Management, explains how public markets view the risks and opportunities of the transition. He shares what investors are really looking for, from policy clarity to proof of long-term returns and how these signals can accelerate the deployment of capital into the companies and technologies shaping our net zero future.

Key topics covered include:

• How public markets evaluate energy and climate-focused companies.

• The signals investors want to see before deploying capital.

• Why policy clarity and consistency are critical for unlocking investment.

• The impact of market volatility, interest rates, and geopolitics on investor appetite.

• What listed markets reveal about the future shape of the energy transition.

Note: Our guest caught a slip of the tongue—at timestamps 22:52, 23:08, and 23:21, they said "per square foot" but meant "per megawatt."

About our guest

Shanu Mathew is Senior Vice President and Portfolio Manager at Lazard Asset Management, where he manages global public equity portfolios for institutional investors. With a focus on energy and climate, he brings a unique perspective on how public markets assess risk, opportunity, and long-term value in the transition to net zero. His insights highlight what investors need to see to unlock capital at scale for the clean energy transition. For more information on Lazard Asset Management - head to their website.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our interviews are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, conversations, data visualizations, live events, and more, follow us on LinkedIn. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.