Transmission

Ed Porter, Modo Energy
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We're racing toward a net-zero future. What does it mean for battery energy storage, power markets, and the people investing in them? We speak with investors, developers, grid operators, and policymakers to find out. Hosted by Ed Porter, International Regional Director at Modo Energy. We go deep on the forces reshaping power systems - from battery storage revenue and electricity trading to project finance, grid reliability, and market design. We cover the markets that matter: Great Britain, ERCOT (Texas), CAISO (California), PJM, Australia's NEM, and more. New episodes every Tuesday and Thursday. Watch or listen wherever you get your podcasts. Want the latest power market news between episodes? Sign up for our free Weekly Dispatch newsletter: bit.ly/TheWeeklyDispatch Transmission is a Modo Energy production. Modo Energy helps owners, operators, builders, and financiers of battery energy storage understand the market — and make the most of their assets. Topics: battery energy storage | BESS | power markets | energy markets | electricity trading | energy transition | renewable energy | grid | energy investment | project finance | storage valuation | capacity market | frequency response | ancillary services | ERCOT | CAISO | PJM | NEM | GB power market | energy podcast

  1. Tax Insurance for Clean Energy Projects - Alliant Insurance Services

    1H AGO · VIDEO

    Tax Insurance for Clean Energy Projects - Alliant Insurance Services

    Tax insurance helps clean energy projects manage the risk of the IRS challenging their tax credits - like the Investment Tax Credit (ITC), Production Tax Credit (PTC), or bonus depreciation. Instead of carrying that uncertainty, developers and investors can transfer it to insurers, adding confidence to project financing. In this episode, Alejandro speaks with James Chenoweth Managing Director at Alliant Insurance Services, about how the market works and who’s using it. They also touch on the key areas of risk today, such as whether projects properly qualify for credits, potential recapture issues, and structuring above the project level, along with ongoing uncertainty around foreign ownership rules (FEOC), which are still awaiting clearer IRS guidance. You can watch or listen to new episodes every Tuesday and Thursday. Transmission is a Modo Energy production. Your host is Alejandro De Diego - US Market Analyst Modo Energy helps the owners, operators, builders, and financiers of battery energy storage understand the market — and make the most out of their assets. Want all the latest power market news? Sign up for our free Weekly Dispatch newsletter: https://bit.ly/TheWeeklyDispatch 00:00:00 Introduction 00:03:48 What is tax insurance? 00:05:19 Who needs it and why? 00:06:18 Is a project insurable? 00:07:05 Insurable risk examples 00:07:51 Which technologies lead demand? 00:08:43 FEOC rules explained 00:09:56 How tax insurance is priced 00:10:57 Where it sits in the finance stack 00:13:49 Who benefits from risk transfer? 00:14:01 Impact on project returns 00:14:32 The next big insurable wedge 00:15:13 Why Texas leads the sector 00:15:57 Houston: oil & gas to renewables 00:17:14 War stories from the boom years 00:18:32 Advice for developers 00:19:07 Alliant's large-scale capabilities 00:21:00 Contrarian take: tax policy is stabilising

    23 min

  2. 1H AGO

    Tax Insurance for Clean Energy Projects - Alliant Insurance Services

    Tax insurance helps clean energy projects manage the risk of the IRS challenging their tax credits - like the Investment Tax Credit (ITC), Production Tax Credit (PTC), or bonus depreciation. Instead of carrying that uncertainty, developers and investors can transfer it to insurers, adding confidence to project financing. In this episode, Alejandro speaks with James Chenoweth Managing Director at Alliant Insurance Services, about how the market works and who’s using it. They also touch on the key areas of risk today, such as whether projects properly qualify for credits, potential recapture issues, and structuring above the project level, along with ongoing uncertainty around foreign ownership rules (FEOC), which are still awaiting clearer IRS guidance. You can watch or listen to new episodes every Tuesday and Thursday. Transmission is a Modo Energy production. Your host is Alejandro De Diego - US Market Analyst Modo Energy helps the owners, operators, builders, and financiers of battery energy storage understand the market — and make the most out of their assets. Want all the latest power market news? Sign up for our free Weekly Dispatch newsletter: https://bit.ly/TheWeeklyDispatch 00:00:00 Introduction 00:03:48 What is tax insurance? 00:05:19 Who needs it and why? 00:06:18 Is a project insurable? 00:07:05 Insurable risk examples 00:07:51 Which technologies lead demand? 00:08:43 FEOC rules explained 00:09:56 How tax insurance is priced 00:10:57 Where it sits in the finance stack 00:13:49 Who benefits from risk transfer? 00:14:01 Impact on project returns 00:14:32 The next big insurable wedge 00:15:13 Why Texas leads the sector 00:15:57 Houston: oil & gas to renewables 00:17:14 War stories from the boom years 00:18:32 Advice for developers 00:19:07 Alliant's large-scale capabilities 00:21:00 Contrarian take: tax policy is stabilising

    23 min
  3. Inside the 20GW Pipeline Shaping U.S. Renewable Energy - Engie North America

    2D AGO · VIDEO

    Inside the 20GW Pipeline Shaping U.S. Renewable Energy - Engie North America

    How does a major renewable operator decide what gets built, where, and with whose capital? Lolita Carry, Director of Portfolio Strategy at Engie North America, explains how Engie manages a 20GW BESS, wind, and solar pipeline across ERCOT, PJM, MISO, and CAISO. In this episode Alejandro de Diego speaks with Lolita Carry about how one of the US's largest battery storage operators structures its investment decisions across multiple ISO markets. They take a look at how Engie steers a 20GW development pipeline across ERCOT, PJM, MISO, and CAISO; the capital recycling model behind Engie's 2.7GW asset sale to SES; what the Broad Reach Power acquisition brought to Engie's battery portfolio; how ancillary service saturation and energy price cannibalisation are reshaping BESS investment cases; and why Engie remains bullish on batteries despite tightening revenues. You can watch or listen to new episodes every Tuesday and Thursday. Transmission is a Modo Energy production. Your host is Alejandro De Diego - US Market Analyst Modo Energy helps the owners, operators, builders, and financiers of battery energy storage understand the market — and make the most out of their assets. Want all the latest power market news? Sign up for our free Weekly Dispatch newsletter: https://bit.ly/TheWeeklyDispatch Chapters: 0:00 Introduction — Engie's 20GW pipeline and the portfolio challenge 4:01 Capital allocation and key technologies in focus 5:17 Priority ISO markets: ERCOT, PJM, MISO, CAISO 6:04 What makes each market unique 9:27 BESS + solar development: from site to FID 11:00 Risk assessment and project showstoppers 12:32 Network upgrades and interconnection queue dynamics 14:49 Raising and lowering the investment bar across markets 18:01 Where Engie captures the most value: development vs. construction vs. operations 18:59 The capital recycling model — Engie's 2.7GW SES deal explained 20:20 How grid-scale batteries operate day to day 21:45 BESS revenue decline: ancillary services, cannibalisation, and energy arbitrage 22:34 Investment stance 23:27 In-house energy management vs. external optimisers 24:07 Advantages of scale vs. smaller developers 29:10 Career advice for those entering the energy investment sector 30:20 The Broad Reach Power acquisition — lessons and integration 32:05 Final plug and contrarian view on the energy industry

    34 min

  4. 2D AGO

    Inside the 20GW Pipeline Shaping U.S. Renewable Energy - Engie North America

    How does a major renewable operator decide what gets built, where, and with whose capital? Lolita Carry, Director of Portfolio Strategy at Engie North America, explains how Engie manages a 20GW BESS, wind, and solar pipeline across ERCOT, PJM, MISO, and CAISO. In this episode Alejandro de Diego speaks with Lolita Carry about how one of the US's largest battery storage operators structures its investment decisions across multiple ISO markets. They take a look at how Engie steers a 20GW development pipeline across ERCOT, PJM, MISO, and CAISO; the capital recycling model behind Engie's 2.7GW asset sale to SES; what the Broad Reach Power acquisition brought to Engie's battery portfolio; how ancillary service saturation and energy price cannibalisation are reshaping BESS investment cases; and why Engie remains bullish on batteries despite tightening revenues. You can watch or listen to new episodes every Tuesday and Thursday. Transmission is a Modo Energy production. Your host is Alejandro De Diego - US Market Analyst Modo Energy helps the owners, operators, builders, and financiers of battery energy storage understand the market — and make the most out of their assets. Want all the latest power market news? Sign up for our free Weekly Dispatch newsletter: https://bit.ly/TheWeeklyDispatch Chapters: 0:00 Introduction — Engie's 20GW pipeline and the portfolio challenge 4:01 Capital allocation and key technologies in focus 5:17 Priority ISO markets: ERCOT, PJM, MISO, CAISO 6:04 What makes each market unique 9:27 BESS + solar development: from site to FID 11:00 Risk assessment and project showstoppers 12:32 Network upgrades and interconnection queue dynamics 14:49 Raising and lowering the investment bar across markets 18:01 Where Engie captures the most value: development vs. construction vs. operations 18:59 The capital recycling model — Engie's 2.7GW SES deal explained 20:20 How grid-scale batteries operate day to day 21:45 BESS revenue decline: ancillary services, cannibalisation, and energy arbitrage 22:34 Investment stance 23:27 In-house energy management vs. external optimisers 24:07 Advantages of scale vs. smaller developers 29:10 Career advice for those entering the energy investment sector 30:20 The Broad Reach Power acquisition — lessons and integration 32:05 Final plug and contrarian view on the energy industry

    34 min

  5. MAR 12

    What Makes a BESS Project Bankable in Germany? - NORD/LB

    The money for German battery storage exists. What's scarce is bankability - the clarity that lets a lender actually commit. What are banks really evaluating when they look at BESS projects in Germany and why regulatory uncertainty, grid connection risk, and the structure of offtake agreements can make or break the chances of getting debt across the line. In this conversation, Ed is joined by Florian Hock, Senior Director, Origination Energy Europe at NORD/LB to explore what separates a financeable BESS project from one that stalls. If you're developing, financing, or investing in battery storage in Germany or watching the market, this is the episode to understand what the financing layer actually looks like from the inside. 0:00 Introduction 0:57 Banks as advisors, not ATMs 2:50 Financial & regulatory hurdles 7:46 Defining bankability 9:01 Regulatory risks to revenues 10:25 Tolling contracts & capacity markets 16:37 The grid fees debate 19:03 Offtake 1.0 to 4.0 22:49 Germany vs UK valuations 25:10 Navigating ancillary saturation 27:49 The bankability framework 33:33 Beyond capital: NIBC's role 36:53 Grid connection delays 38:14 Flexible connection agreements 39:56 Lessons from the UK 43:31 One change for Europe #BatteryStorage #EnergyFinance #GermanEnergyMarket #BESS #EnergyTransition

    45 min
  6. What Makes a BESS Project Bankable in Germany? - NORD/LB

    MAR 12 · VIDEO

    What Makes a BESS Project Bankable in Germany? - NORD/LB

    The money for German battery storage exists. What's scarce is bankability - the clarity that lets a lender actually commit. What are banks really evaluating when they look at BESS projects in Germany and why regulatory uncertainty, grid connection risk, and the structure of offtake agreements can make or break the chances of getting debt across the line. In this conversation, Ed is joined by Florian Hock, Senior Director, Origination Energy Europe at NORD/LB to explore what separates a financeable BESS project from one that stalls. If you're developing, financing, or investing in battery storage in Germany or watching the market, this is the episode to understand what the financing layer actually looks like from the inside. 0:00 Introduction 0:57 Banks as advisors, not ATMs 2:50 Financial & regulatory hurdles 7:46 Defining bankability 9:01 Regulatory risks to revenues 10:25 Tolling contracts & capacity markets 16:37 The grid fees debate 19:03 Offtake 1.0 to 4.0 22:49 Germany vs UK valuations 25:10 Navigating ancillary saturation 27:49 The bankability framework 33:33 Beyond capital: NIBC's role 36:53 Grid connection delays 38:14 Flexible connection agreements 39:56 Lessons from the UK 43:31 One change for Europe #BatteryStorage #EnergyFinance #GermanEnergyMarket #BESS #EnergyTransition

    45 min
  7. Speed to Power vs Net Zero: The Data Center Dilemma - Clarke Energy

    MAR 10 · VIDEO

    Speed to Power vs Net Zero: The Data Center Dilemma - Clarke Energy

    The AI boom has created an energy problem no one quite planned for. Every new data center needs power now - not in three years when the grid connection finally arrives. Developers are skipping the queue, installing on-site generation at a scale that would have seemed extraordinary five years ago. But speed to power isn't the only pressure. Data center operators are also staring down net zero commitments, sustainability departments that want decarbonisation, and an energy trilemma of cost, carbon, and resilience. In this episode Alejandro is joined by Alex Marshall, Group Business Development and Marketing Director at Clarke Energy. Alex explains why gas engines have become the bridging technology of choice for hyperscale data centers, what a 450 MW peaking station outside London actually looks like, and whether the engineering department and the sustainability team will ever agree. You can watch or listen to new episodes every Tuesday and Thursday. Transmission is a Modo Energy production. Your host is Alejandro De Diego - US Market Analyst Modo Energy helps the owners, operators, builders, and financiers of battery energy storage understand the market — and make the most out of their assets. Want all the latest power market news? Sign up for our free Weekly Dispatch newsletter: https://bit.ly/TheWeeklyDispatch Chapters - 0:00 — Introduction - 1:44 — Guest intro: Alex Marshall & Clarke Energy - 3:30 — Data centers and the shift to self-generation - 5:00 — The inflection point: Ireland to the US - 7:00 — Biggest project: 450 MW peaking station, London - 7:45 — Gas engines vs batteries: what fills the dunkelflaute gap - 9:00 — What US data centers actually buy - 10:20 — The net zero pathway for gas engines - 14:00 — Speed to power vs cost savings - 17:00 — Europe vs US: sustainability and energy culture - 18:00 — 45Y production tax credit: what's at stake - 22:10 — Clarke Energy's business model - 22:40 — Project highlights: Ireland, Indiana, Nigeria, Romania - 25:00 — The contrarian view: biogas & organic waste

    29 min

  8. MAR 10

    Speed to Power vs Net Zero: The Data Center Dilemma - Clarke Energy

    The AI boom has created an energy problem no one quite planned for. Every new data center needs power now - not in three years when the grid connection finally arrives. Developers are skipping the queue, installing on-site generation at a scale that would have seemed extraordinary five years ago. But speed to power isn't the only pressure. Data center operators are also staring down net zero commitments, sustainability departments that want decarbonisation, and an energy trilemma of cost, carbon, and resilience. In this episode Alejandro is joined by Alex Marshall, Group Business Development and Marketing Director at Clarke Energy. Alex explains why gas engines have become the bridging technology of choice for hyperscale data centers, what a 450 MW peaking station outside London actually looks like, and whether the engineering department and the sustainability team will ever agree. You can watch or listen to new episodes every Tuesday and Thursday. Transmission is a Modo Energy production. Your host is Alejandro De Diego - US Market Analyst Modo Energy helps the owners, operators, builders, and financiers of battery energy storage understand the market — and make the most out of their assets. Want all the latest power market news? Sign up for our free Weekly Dispatch newsletter: https://bit.ly/TheWeeklyDispatch Chapters - 0:00 — Introduction - 1:44 — Guest intro: Alex Marshall & Clarke Energy - 3:30 — Data centers and the shift to self-generation - 5:00 — The inflection point: Ireland to the US - 7:00 — Biggest project: 450 MW peaking station, London - 7:45 — Gas engines vs batteries: what fills the dunkelflaute gap - 9:00 — What US data centers actually buy - 10:20 — The net zero pathway for gas engines - 14:00 — Speed to power vs cost savings - 17:00 — Europe vs US: sustainability and energy culture - 18:00 — 45Y production tax credit: what's at stake - 22:10 — Clarke Energy's business model - 22:40 — Project highlights: Ireland, Indiana, Nigeria, Romania - 25:00 — The contrarian view: biogas & organic waste

    29 min
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Ratings & Reviews

5
out of 5
12 Ratings

About

We're racing toward a net-zero future. What does it mean for battery energy storage, power markets, and the people investing in them? We speak with investors, developers, grid operators, and policymakers to find out. Hosted by Ed Porter, International Regional Director at Modo Energy. We go deep on the forces reshaping power systems - from battery storage revenue and electricity trading to project finance, grid reliability, and market design. We cover the markets that matter: Great Britain, ERCOT (Texas), CAISO (California), PJM, Australia's NEM, and more. New episodes every Tuesday and Thursday. Watch or listen wherever you get your podcasts. Want the latest power market news between episodes? Sign up for our free Weekly Dispatch newsletter: bit.ly/TheWeeklyDispatch Transmission is a Modo Energy production. Modo Energy helps owners, operators, builders, and financiers of battery energy storage understand the market — and make the most of their assets. Topics: battery energy storage | BESS | power markets | energy markets | electricity trading | energy transition | renewable energy | grid | energy investment | project finance | storage valuation | capacity market | frequency response | ancillary services | ERCOT | CAISO | PJM | NEM | GB power market | energy podcast

Information

  • Creator
    Ed Porter, Modo Energy
  • Years Active
    2022 - 2026
  • Episodes
    393
  • Rating
    Clean
  • Copyright
    © 2025
  • Show Website
    Transmission

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