Episódios
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The energy transition conversation focuses on what connects to the grid. Far less attention goes to whether anyone is coordinating what those assets do once connected. AI training runs swing hundreds of megawatts in seconds as GPUs checkpoint and restart a profile that looks like a generator tripping offline. At distribution level, millions of inverter-based resources create localised variability that overwhelms individual circuits even when aggregate models look healthy. The planning tools in use today were designed for neither problem.
Host Bridget van Dorsten is joined by Kay Aikin, CEO and Founder of Dynamic Grid, energy engineer, grid architecture advisor to the DOE-supported GridWise Architecture Council, and contributor to the UN Environmental Program's building decarbonisation work. Kay unpacks what an AI training facility actually does to the grid with full GPU load for hours or days, then a drop to ten percent in seconds during checkpointing. She talks about how at the scale now planned, the Stargate project in Texas alone could represent ten percent of ERCOT disappearing in four seconds. The behaviour is stochastic and cannot be modelled with traditional statistical tools. At distribution level, virtual power plants responding to wholesale signals without circuit-level visibility can create competing oscillations, the kind of emergent dynamics that contributed to the Spanish grid failure.
The proposed fix is an AI controller at the substation, sending price-based signals and flexible operating envelopes to large assets and VPP operators, giving them twenty-four-hour forecasts and real-time circuit visibility. Total cost: under a hundred thousand dollars installed. The reason it isn't everywhere is cost-of-service regulation. Utilities earn returns on deployed capital, so a million-dollar transformer replacement is more profitable than software that eliminates the need for it.
Without new approaches, rebuilding the US distribution grid could cost up to ten trillion dollars by 2040. Kay is developing grid utilisation metrics with regulators in Maine, Virginia, and Maryland to incentivise extracting more from existing infrastructure. The episode closes on the need for distribution system operators and the affordability death spiral that looms if the structural incentives don't shift.
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As coal and gas plants retire, the energy transition conversation focuses on replacing their generation capacity. What gets far less attention is the loss of the physical properties those machines provided for free: inertia that stabilises frequency, fault current that supports voltage during disturbances, and reactive power that regulates voltage across the network. These services come from the physics of enormous spinning rotors synchronised to the grid, responding instantaneously, without sensors, software or control loops. As inverter-based resources replace them, that mechanical immune system disappears, and a new, extreme stress test is arriving at the same time in the form of AI data centres whose loads can swing by hundreds of megawatts in a fraction of a second.
Host Bridget van Dorsten is joined by Kristina Carlquist, General Manager of Synchronous Condensers at ABB, and Christian Payerl, Sales Manager of Synchronous Condensers at ABB, to unpack why a technology that has existed for as long as the grid itself is now experiencing a revival.
Christian explains the three ancillary services the grid is losing, inertia, short-circuit current and reactive power, and why inverter-based generation does not replace them. Grid-forming batteries can be programmed to simulate inertia, but each charge-discharge cycle degrades lifetime, overload capacity is limited to microseconds, and the models needed for accurate grid simulation are often tied up in manufacturer IP. Synchronous condensers respond on physics alone, in both directions, with no degradation and no modelling uncertainty. The recent blackout in Spain illustrates what happens when that gap is left unfilled.
Kristina walks through the commercial traction. ABB's partnership with VoltaGrid on isolated data center microgrids has grown from an unexpected inbound enquiry in late 2024 to dozens of synchronous condensers delivered. On the grid-connected side, the Faroe Islands have deployed four units with a fifth on the way as part of their push toward 100% renewables, already achieving multi-day periods of fully renewable operation. ABB is also working with Korea's Jeju Island on its first flywheel-equipped deployment. The demand pattern is widening: islands integrating renewables, TSOs managing weak grid regions, mines electrifying operations, and now data centre developers who had never considered grid stability equipment before.
The episode closes on regulation and standards. Christian, who participates in international standards work through CIGRE, notes that there is still no international standard for flywheel safety and that the treatment of inertia as a paid service varies dramatically by country. While inertia is compensated as a paid service in the UK, in Sweden it is treated as free – rotating machines providing it receive no income stream for doing so. As data center load grows faster than regulation can respond, both guests argue that the answer is not one technology but a combination, provided the industry, utilities and policymakers can align on what the grid actually needs to remain stable.
This episode is sponsored by GridBeyond.
Energy asset owners face a critical challenge: how to optimize performance and drive new revenue in competitive, fast-moving markets. GridBeyond solves this through AI-powered forecasting, energy trading and optimization.
GridBeyond's platform delivers:
Precision forecasting to anticipate market opportunities Intelligent market access across multiple revenue streams Real-time control that responds instantly to market conditions Optimization that combines AI insights with expert oversightWhether you're managing batteries, gas peakers, hybrid sites, or complex multi-asset portfolios, GridBeyond helps you turn assets into high-performance revenue machines. The proven platform has helped businesses across the energy sector maximize returns and accelerate their energy transition.
Want to learn more? Visit go.gridbeyond.com/recharged https://go.gridbeyond.com/recharged
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Utilities are under pressure to deliver generation that is dispatchable, affordable, and clean enough to satisfy increasingly stringent environmental rules, notoriously hard to do in one asset. As renewables grow, the gas turbines and engines that have historically filled the gap come with a NOx problem, a CO2 problem, or both. Hydrogen offers a path through, but the supply isn't there yet. So what do you build today?
Host Bridget van Dorsten is joined by Shannon Miller, CEO of Mainspring Energy, and Will Hazelip of National Grid Ventures, to dig into a technology most listeners haven't heard of and the first commercial hydrogen-powered deployment of it. Mainspring's 250-kilowatt linear generator is being installed at National Grid's 1,500 MW North Port facility on Long Island, in partnership with NYSERDA, the Long Island Power Authority, and Stony Brook University.
Shannon explains how Mainspring redesigned the generator using the power electronics that drive solar inverters, batteries and EVs, replacing mechanical systems with software, eliminating the flame, and operating at temperatures low enough to take NOx out of the equation. An adaptive pressure cycle, software-controlled in real time, runs the same hardware on hydrogen, compressed natural gas, biogas, propane or blends, with no hardware change. The 250 kW form factor matters too: efficiency holds across the full load range, fleet redundancy replaces single-asset reliability risk, and deployment is a concrete pad plus electrical and fuel hookups rather than a multi-year build.
Will frames the project against the regulatory backdrop. Long Island sits in a non-attainment zone for NOx, and New York's path to a carbon-free grid requires what the state calls a dispatchable emissions-free resource. The unit will run for 12 months on green hydrogen and on compressed natural gas, with Stony Brook measuring emissions and efficiency, NYSERDA watching for regulatory design, and National Grid building operational experience for the rest of its ageing fleet.
The economic case rests on the alternative. New-build hydrogen-capable gas turbines run $3,500–$4,000/kW on capex (per Wood Mackenzie), with delivered power costs reaching $300–$900/MWh once hydrogen is layered in. Shannon's point is that committing to a single-fuel turbine only pays off if the fuel actually arrives at the scale and price you assumed. With hydrogen supply uncertain, that's a stranded-asset risk linear generators avoid by running on whatever fuel is available today. Will adds the carbon-market angle saying that as carbon pricing develops, real-time fuel switching becomes an optimisation lever, not just a hedge.
Then there’s the supply reality. Total US hydrogen production today isn't enough to fuel a single 500 MW power plant, and with 45V tax credit requirements tightening and federal climate policy in flux, the gap between hydrogen ambition and supply isn't closing fast. Will's suggests starting with the fuels that exist today and scale into hydrogen as supply grows.
The episode closes on demand. Mainspring's factory produces 325 MW a year today and can roughly double in 12–15 months, with pull from industrial customers, data centres and AI infrastructure, and utilities at once, driven by the same problem: nobody can get power fast enough.
This episode is sponsored by GridBeyond.
Energy asset owners face a critical challenge: how to optimize performance and drive new revenue in competitive, fast-moving markets. GridBeyond solves this through AI-powered forecasting, energy trading and optimization.
GridBeyond's platform delivers:
Precision forecasting to anticipate market opportunities Intelligent market access across multiple revenue streams Real-time control that responds instantly to market conditions Optimization that combines AI insights with expert oversightWhether you're managing batteries, gas peakers, hybrid sites, or complex multi-asset portfolios, GridBeyond helps you turn assets into high-performance revenue machines. The proven platform has helped businesses across the energy sector maximize returns and accelerate their energy transition.
Want to learn more? Visit go.gridbeyond.com/recharged https://go.gridbeyond.com/recharged
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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Empty gigawatt factories, product recalls, participation rates that never materialised, and a policy environment that has now stripped the green premium entirely. The electrolyzer industry has had a brutal few years and most of the companies that raised hundreds of millions on the back of the hydrogen hype cycle are now sitting with fixed costs they cannot sustain and field deployments they are not proud of.
Host Bridget van Dorsten speaks with Raveel Afzaal, CEO of Next Hydrogen, one of the few electrolyzer manufacturers that chose to watch from the sidelines while competitors scaled into the storm. Raveel describes the decision in blunt terms: in 2021, when cost of capital went to near zero and capital discipline evaporated, Next Hydrogen looked at the macro signals; rising inflation, rising interest rates, a market telling them their Hyundai partnership was worth a 5% share price drop, and chose to extend their runway from 18 months to five years. That meant hard capital allocation decisions, and the answer was to invest in the product, not the factory.
The conversation goes deep into a problem that rarely gets discussed publicly: the commercialisation valley of death. Getting to a working prototype is celebrated, but the productisation phase, technology readiness levels five through seven, is where the funding gap is most severe and the cost shock is greatest. Costs typically rise three to five times from prototype stage, revenues do not yet exist, and neither government programmes nor conventional investors are structured to bridge it. Raveel explains why so many companies that made it to prototype stage never made it to commercial deployment and what surviving that valley actually required.
Raveel also pushes back on a common framing around Chinese versus Western electrolyzers. His argument is that the quality question is not a national origin question , it is a materials question. What membranes, what bipolar plates, what catalyst, what functional safety architecture? Next Hydrogen's own answer to those questions is unusual: replacing nickel bipolar plates with large injection-moulded specialty engineered plastics, eliminating corrosion risk entirely and reducing cost through higher material utilisation rather than lower-grade materials. The company holds 40 patents on a cell architecture designed from the outset for direct connection to variable renewables, a design decision made in 2008, when the rest of the industry was still building for baseload.
The episode closes on what the next two to three years look like for electrolyzer manufacturers. Raveel's view is that consolidation is coming, but many companies won't survive long enough to be part of it, their fixed costs are too high and their runway too short. The companies that survive will be those with variable cost models, disciplined project selection, and a genuine answer to three questions: Can you access excess electrons? Can you deliver containerised, plug-and-play solutions that control total installed cost? Can you reliably handle the intermittent operations that direct renewable connection demands? Next Hydrogen is betting the answer starts with getting the cell design right first.
Today's episode is sponsored by GridBeyond.
Energy asset owners face a critical challenge: how to optimize performance and drive new revenue in competitive, fast-moving markets. GridBeyond solves this through AI-powered forecasting, energy trading and optimization.
GridBeyond's platform delivers:
Precision forecasting to anticipate market opportunities Intelligent market access across multiple revenue streams Real-time control that responds instantly to market conditions Optimization that combines AI insights with expert oversightWhether you're managing batteries, gas peakers, hybrid sites, or complex multi-asset portfolios, GridBeyond helps you turn assets into high-performance revenue machines. The proven platform has helped businesses across the energy sector maximize returns and accelerate their energy transition.
Want to learn more? Visit go.gridbeyond.com/recharged https://go.gridbeyond.com/recharged
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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Millions of enrolled devices, 60 utilities, and the participation rate gap that's been embarrassing the US market for a decade.
US residential virtual power plants have been a promising idea that's consistently underdelivered — participation rates below 5%, fragmented apps, siloed programmes, and utilities that have simply never had to compete for a customer's attention. Meanwhile, Octopus Energy has built the world's largest residential VPP in the UK, with EV driver participation rates of 50 to 70%. The question has always been whether that model can travel to a market where most customers have no supplier choice at all.
Bridget van Dorsten speaks with Nick Chaset, CEO of Octopus Energy US, about the acquisition that represents Octopus's biggest bet on answering that question: a majority stake in Uplight alongside Schneider Electric, giving Octopus access to established relationships with more than 60 US utilities — including eight of the ten largest.
Nick argues the participation gap isn't really a cultural problem or a technology problem. It's a regulatory design problem. US flexibility programmes have been built device by device, forcing consumers to juggle multiple apps and enrolments — and in some cases prohibiting them from combining assets across programmes. Octopus's answer is one app, a 30-second sign-up, and a value proposition framed entirely around what consumers actually care about: lower bills. Can that translate through a utility partnership channel rather than a direct retail relationship?
The conversation also tackles the data centre dimension. Nick makes the case that residential flexibility isn't a separate story from the large load interconnection challenge — it's part of the solution. If utilities can statistically guarantee load reductions from tens of thousands of enrolled homes during peak hours, they may be able to connect larger data centre loads at smaller interconnection points. And in many hours when a data centre might otherwise ramp down, it could simply be cheaper to pay consumers to flex instead.
Octopus's model is built on trust earned through direct consumer relationships. Can that translate through a utility intermediary at scale, across 60 different utility cultures without losing what makes it work?
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Why nuclear has never been project financed and how that might finally be about to change.
Every nuclear plant ever built has ultimately been backstopped by taxpayers or ratepayers. Not because the technology doesn't work, but because nobody has ever cracked the construction cost and schedule problem well enough to convince a bank to finance it without government support. Bridget van Dorsten is joined by Jake Jurewicz, Co-founder and CEO of Blue Energy, to explore why that has been so hard and what a credible path to fixing it might actually look like.
Jake walks through the root cause of nuclear's cost overrun problem and it is not the reactor. The reactor equipment itself represents around 7% of total project costs. The real problem is what Jake calls nuclear construction overhead: the cost of mobilizing, training, and retaining the 10,000 or so skilled workers needed to build these plants in the field, the way we have been building them for 70 years, essentially the same way you would build a castle.
The episode then turns to what Blue Energy is doing differently. By intentionally selecting sites accessible by barge and contracting existing oil and gas fabrication yards and shipyards to build large pre-assembled modules offsite, Blue Energy aims to bring fixed-price contracts into nuclear for the first time, the same contracting structure that made offshore wind and LNG bankable. Jake explains why that single shift changes everything for project financing.
Bridget and Jake also work through the demand side of the equation: why hyperscalers are becoming the crucial beachhead market for new nuclear, what binding PPAs from investment-grade counterparties actually signal versus announcements, and why the restarts and uprates, while valuable, only go so far.
The conversation also covers Blue Energy's first announced project at the Port of Victoria in Texas, a 1.5 gigawatt nuclear-powered AI data centre co-located with a gas-to-nuclear conversion, designed to accelerate commercial operation and reduce cost of capital even without government loan support. Jake explains the mechanics of why firing the balance of plant with gas first before switching to nuclear steam is not a compromise but a genuine financing innovation.
Finally, Jake offers a view of what signals actually matter when separating the nuclear renaissance from the noise: binding PPAs, large balance sheets standing behind fixed-price contracts, and projects moving through the Nuclear Regulatory Commission rather than staying at the prototype stage.
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What two decades of flat demand means for a grid now expected to double in size
The US went from essentially zero load growth for twenty years to 3% national growth almost overnight. The supply chains, permitting pipelines, engineering workforce and regulatory processes were all calibrated for a different world. Bridget van Dorsten is joined by Tom Falcone, President of the Large Public Power Council, representing the 30 largest publicly owned utilities in the United States, collectively owning around 85% of public power assets and currently serving roughly 18% of all US data centre load.
Tom explains what makes public power structurally different from investor-owned utilities: locally governed, not-for-profit, and built to minimise cost rather than earn a return on equity. That governance model turns out to matter a great deal when trillion-dollar hyperscalers come looking for power. Public power utilities have no financial incentive to favour their own assets over a customer's, and their local accountability makes deal-making faster and more direct.
Bridget and Tom also work through the mechanics of how the industry is actually responding. Large-load tariffs are reshaping the interconnection queue, forcing hyperscalers to make long-term financial commitments rather than reserving capacity for free. About two thirds of speculative requests disappear once real commitments are required, which tells you something about the gap between announced demand and real demand. LPPC members are nonetheless planning to add around 60GW of new generation over the next ten years to meet load that is forecast to grow from 4GW to 18GW of data centres in their territories alone, in just five years.
The episode also tackles private use rules, a Treasury regulation from 25 years ago that nobody expected to become a bottleneck for the AI era, the capacity factor realities that make peak-day power so much harder to deliver than annual energy, the nuclear question and why federal involvement is probably unavoidable if the US wants to build at scale, and where CCS can and cannot realistically be deployed.
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Carbon capture and storage has long been framed as a clean technology that’s forever five years away. Bridget van Dorsten speaks with Tim Vail, CEO of ION Clean Energy, to explore why a surge in AI data-centre demand is reshaping the market for decarbonised gas – and how viable a solution it really is.
Tim argues we’ve entered a buyer-led era for carbon capture, driven by hyperscalers like Amazon, Google and Microsoft who need 24/7 power fast - but are still committed to climate and decarbonization goals. That creates a new question for the energy transition: can natural gas + CCS deliver competitive renewable energy-level carbon intensity, while supporting grid resilience and scaling quickly enough for near-term energy projects?
A big part of the conversation is about measurement and credibility. Tim explains how “carbon intensity” has to be assessed across the full value chain - from wellhead to electrons - including methane leakage. The rise of methane monitoring (ground, aircraft and satellite) and verification systems are helping utilities and buyers prove emissions performance, which is increasingly essential for energy finance, green finance, and corporate reporting. How does it work?
Plus, Tim and Bridget debate the economics. Hyperscalers don’t buy “dollars per ton of CO₂ captured” - they buy power. Tim breaks down what CCS can add on a $/MWh basis, how incentives like the US 45Q tax credit can influence the cost, and why execution (getting projects financed and to final investment decision) is now the real bottleneck. Along the way, Bridget and Tim place CCS in the broader clean firm competition set, including nuclear, hydrogen, geothermal, and solar energy plus batteries, and what this means for future energy predictions and energy policy.
The big question: is CCS at last moving from concept to commercial scale - not because the chemistry suddenly changed, but because demand, verification, and project finance finally might be aligning?
About Interchange Recharged
Interchange Recharged is the Wood Mackenzie podcast exploring the technologies, markets and energy policy decisions shaping the future of energy - from clean tech and clean technology to infrastructure, grid resilience, and the financing models behind the next wave of decarbonisation.
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After more than a decade of flat demand, the US power sector is now facing explosive growth, arriving faster than grids, generation, and transmission can be built. In this episode, Interim host of Interchange Recharged Bridget van Dorsten is joined by Chris Seiple, Vice Chairman of Power & Renewables at Wood Mackenzie, to unpack one of the defining challenges facing the modern energy system: how utilities, developers, and policymakers are responding to an unprecedented surge in electricity demand driven by data centres, AI, and reshoring manufacturing.
Bridget and Chris explore what makes this moment different, why planning cycles are colliding with short technology investment horizons, and how this mismatch is forcing a fundamental rethink of how the power business works, from energy policy to energy finance. The main point is that the difference between regulated and deregulated markets is widening, as vertically integrated utilities strengthen their advantage in managing large loads.
New mechanisms like large-load tariffs are reshaping rate design, investment risk, and affordability - Chris explains how. Plus, deregulated markets may be approaching a tipping point, as traditional price signals struggle to accommodate demand arriving at this scale and speed. What does it all mean for energy?
Crucially, the episode looks beyond the immediate crunch to the longer-term implications for the energy transition. From renewable energy and solar energy pipelines to grid resilience, transmission innovation, and behind-the-meter solutions, this demand boom could become a powerful catalyst for clean tech, clean technology, and energy innovation, even as subsidy regimes change and capital costs rise.
The discussion also touches on the role of hydrogen, nuclear, and emerging grid technologies in supporting future energy projects, and why this period of rapid load growth may ultimately accelerate decarbonisation rather than slow it. If you’re tracking climate policy, climate change, green finance, and long-term energy predictions, this episode is for you; hear why today’s data centre boom could shape the next several decades of the power system.
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US data centre announcements are averaging 435MW a month, and there’s around 175GW of large-load capacity already committed or under construction. AI hyperscalers are looking for innovative ways to meet their energy demands. It’s one of the biggest infrastructure challenges in energy right now: how to deliver reliable, fast power without derailing climate and decarbonisation goals. Joining interim host Bridget van Dorsten is Akhil Batheja, Director of Technology Strategy at Bloom Energy, to unpack why fuel cells have moved from “interesting clean technology” to the epicentre of the data-centre power conversation - and what that shift means for utilities, energy projects, and energy policy.
Together they discuss how solid oxide fuel cells differ from turbines, engines and batteries - from efficiency and permitting advantages to “Lego block” scalability - and why “time to power” is becoming the defining metric for data center owners. Bridget and Akhil explore grid resilience and the realities of operating off-grid campuses, how fuel cells can handle spiky AI workloads using supercapacitors, and why a future high-voltage DC architecture could reshape data-centre efficiency. Finally, they look at pathways to cleaner fuels, including hydrogen, renewable energy-linked fuels like biogas/RNG, and carbon capture, plus the role of energy finance and green finance in accelerating climate change solutions across the energy transition.
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AI is changing the energy system faster than almost anything we’ve seen in decades. Interim host, engineer and energy analyst Bridget Van Dorsten is joined by Ed Crooks, host of Energy Gang and Vice-chair of the Americas at Wood Mackenzie, for a wide-ranging conversation about what’s really driving energy decisions in 2026. From data centres and “speed to power” to energy affordability and US energy dominance, they unpack why reliability, cost and scale are now front of mind for governments, utilities and technology companies.
Bridget and Ed discuss which technologies could step up to meet the demand, from long-duration storage and advanced nuclear to geothermal and grid-enhancing technologies, and whether AI itself could help accelerate innovation across the energy system. Then they debate the costs; how much does AI really cost us in emissions and capital that could arguably be better spent elsewhere. Are data centres out-competing the energy transition for capital and grid access? And what happens if today’s AI investment boom starts to cool, or the bubble bursts?
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At the start of the year things were looking uncertain for nascent renewables like hydrogen and geothermal. With policy support from the previous US administration they had boomed with the IRA, then came July 2025 and the Trump administration’s One Big Beautiful Bill, which tore up tax credits and removed incentives for those renewable technologies. As we approach the end of the year, has anything changed for the better? How are hydrogen, wind and geothermal looking as we prepare for 2026?
Regular host Sylvia Leyva Martinez is on maternity leave until the middle of next year, so her fellow energy analyst Bridget van Dorsten is stepping up to keep the mic warm. Bridget is an analyst researching hydrogen, but she has an engineer’s understanding of technologies across the energy spectrum. She doesn’t just cover that ‘frustrating, inefficient, expensive-to-move-around molecule’ (as she calls it); she knows what’s real in the energy world and what’s just hype.
To kick off her tenure as host she’s picked out a few highlights from the year relating to those important renewables – geothermal, hydrogen and wind. Looking back on those conversations Sylvia had with experts on those fields, Bridget then gives the energy analyst’s view on how things are progressing in the current policy environment. Expect in-depth analysis on what’s changed, and the key stats and forecasts you need to know as 2026 approaches.
Plus, Bridget looks back on the conversation Sylvia had with energy investors back in July, when we saw the oil and gas majors like Shell and Equinor announce they were scaling back their climate ambitions under pressure from investors. Bridget explores why the energy transition is unfolding slower than expected, how shareholder pressure is reshaping low-carbon strategies, and why companies like TotalEnergies and Shell have retreated from their plans to phase down fossil fuels.
Bridget will be hosting until mid-next-year, and she wants to know what topics you want explored.
Connect with the show and let us know what you want to hear, on LinkedIn, X or Bluesky at @interchangeshow, and follow the podcast so you don’t miss the episodes coming in the new year.
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Utility-scale clean energy projects in development are still facing connection queues and regulatory barriers. RE+ may be done for 2025, but the debate is still going. Host Sylvia Leyva Martinez, Research Director at Wood Mackenzie, sits down with three leaders who are driving progress from different corners of the energy transition, from utility-scale project development to digital grid optimisation and solar system reliability.
Sylvia Leyva Martinez and her guests discuss how federal and state regulations shape project timelines and financing, the latest innovations in the grid and the future of interconnection studies, the supply chain outlook for developers and technology providers, and how policy and software are converging to accelerate the energy transition.
In this episode you’ll hear from:
Angela Amos from AES Clean Energy - As Director of Commercial Strategy & Innovation, Angela brings a unique vantage point that bridges policy, finance, and market execution. Drawing on her experience at AES, Uplight, and FERC, Angela shares how developers are navigating an evolving regulatory landscape, adapting to federal and state policy shifts, and rethinking how technology integration shapes long-term strategy. She also discusses how AES is approaching supply chain partnerships and what “innovation” really looks like at a global energy developer.
Lindsey Williams from Shoals Technologies Group - Lindsey is VP of Marketing & Communications at Shoals, and she joins Sylvia to unpack the latest in solar and storage performance. Building on Shoals’ recent focus on EBOS (Electrical Balance of System), Lindsey reflects on how component design, reliability, and digital monitoring are redefining project outcomes. She also shares what she heard from the floor at RE+, including the big industry talking points shaping developer confidence and long-term investment certainty in clean energy infrastructure.
Inalvis Alvarez Fernandez from Simple Thread - Inalvis is a Senior Energy Technology Engineer at Simple Thread, and she explains how digital tools like Minerva are helping reduce project backlogs, streamline utility processes, and unlock grid capacity faster. Inalvis also discusses the challenges clean energy companies face scaling renewables and how regulatory clarity can enable more efficient technology deployment.
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Electrification is surging, AI data centres are multiplying, and volatility is rising on both sides of the meter. Can storage step in as the flexible backbone the US grid now needs?
Host Sylvia Leyva Martinez is joined by Joanna Martin Ziegenfuss, General Manager for Strategic Market Development (North America), and Ruchira Shah, General Manager of Software Product Management at Wärtsilä Energy Storage. Together they unpack how high-performance hardware paired with sophisticated control software delivers real-time flexibility, from synthetic inertia and fast frequency response to price arbitrage and microgrid operation.
The conversation tracks the shift from treating storage as a bolt-on to renewables to viewing it as a core reliability asset. Sylvia, Joanna and Ruchi explore how AI-driven load growth and volatile demand profiles change planning assumptions; why interconnection queues are pushing some data centres toward on-site generation plus batteries; and how market rules and policy must evolve to reward flexibility and sub-second response. They also dig into software’s role in future-proofing assets as grid requirements tighten, and where innovators are already meeting new performance thresholds.
If you’re navigating project economics, market design or grid operations in a fast-changing landscape, this episode offers a pragmatic look at what’s working, what’s missing, and why storage is set to anchor a resilient, decarbonised grid.
This episode is brought to you by Wärtsilä Energy Storage – Wärtsilä delivers high performing, large-scale energy storage systems by combining sophisticated software, robust safety, and long‑term reliability—empowering utility, IPP, and data center customers to maximize energy value and investment returns. To learn more, visit: https://www.wartsila.com/energy/energy-storage?utm_source=woodmac&utm_medium=podcast&utm_campaign=energy_storage_saving_the_grid&utm_content=host
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This special wrap-up episode of Interchange Recharged takes listeners on a fast tour of the entire carbon capture value chain, from industrial emitters and LNG developers to UK transport and storage pioneers. Host Sylvia Leyva Martinez, Research Director at Wood Mackenzie, brings together three leaders shaping how CCUS moves from theory to reality.
First, James Lopez, Subsurface CO₂ Storage Advisor at CEMEX, explains why cement’s process emissions make it one of the hardest sectors to decarbonise and why storage certainty is now the key enabler for investment. He shares how CEMEX is identifying and evaluating CO₂ storage hubs across global sites, and why capture without a permitted storage solution is a business risk few emitters can take. “CCUS doesn’t work if you only have the C,” he says, “you need the full chain.”
Next, Glenn Wilson, Chief Financial Officer at Coastal Bend LNG, discusses how LNG economics and carbon capture can work hand in hand. Designed from day one as a low-carbon project, Coastal Bend LNG is integrating capture across both pre-treatment and post-combustion stages, aiming for near-zero emissions. Glenn explains how 45Q tax credits and the sale of verified environmental attributes create a dual-revenue model, and why tokenising the carbon intensity of each LNG cargo could redefine transparency in global energy trade. “We’re not just reducing emissions,” he says, “we’re creating a new market for verified carbon value.”
Finally, Nick Terrell, Executive Director at Carbon Catalyst, joins from the UK to reveal how depleted gas fields are being repurposed into next-generation carbon storage sites. Following the country’s first offshore CO₂ injection test, he shares how reusing North Sea infrastructure is cutting costs, driving bankability, and opening the door to cross-border storage for European emitters. As policy alignment grows between the UK and EU, Terrell argues that liberalisation and private capital will be the next accelerators. “Once we have more FIDs,” he says, “finance, technology, and data will do the rest.”
From the cement kiln to the seabed, this episode captures the energy and optimism emerging across the CCUS ecosystem - a clear sign that carbon capture is moving from cautious planning to confident execution.
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Recorded live on day two of Wood Mackenzie’s CCUS Conference in Houston, this episode of Interchange Recharged explores how carbon capture is advancing from state-level regulation to real-world innovation and global market trends.
Host Sylvia Leyva Martinez begins with Lily Barkau, Groundwater Section Manager at the Wyoming Department of Environmental Quality, who explains how Wyoming became one of the first states to secure Class VI primacy and why local leadership is key to building trust, speeding up permitting, and ensuring long-term stewardship of CO₂ storage.
Next, Katherine Hough of GEVO connects policy with practice, describing how her team links biogenic CO₂, carbon sequestration, and sustainable aviation fuel to create a truly circular carbon economy. Her insights show how business models, not just technology, are making carbon management commercially viable.
Finally, Sylvia sits down with Ed Crooks, Vice Chair, Americas at Wood Mackenzie and host of Energy Gang, for a wide-angle look at how policy clarity, AI-driven demand, and global energy dynamics are shaping the next phase of CCUS.
From permitting to project finance to public perception, this on-the-ground episode captures the collaborative energy driving carbon capture forward—and marks a rare crossover between Wood Mackenzie’s two flagship podcasts.
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This special episode of Interchange Recharged brings together finance, law, and technology leaders shaping the path to commercial carbon capture. Host Sylvia Leyva Martinez explores how capital, regulation, and innovation are converging to turn early-stage CCUS projects into bankable reality.
The conversation opens with Omer Farooq, Head of Sustainable Asset Finance at Bank of America, on how one of the world’s largest banks is approaching carbon capture — from financing first-of-a-kind projects to assessing new business models and risk structures. Omer explains why point-source capture is already investable, why direct air capture still has hurdles to clear, and why incentives like 45Q remain the backbone of the economics. “Policy drives energy,” he says, “and transport and permitting are the next frontiers.”
Next, Liz McGinley, Partner at Bracewell LLP, joins to unpack the evolving U.S. regulatory landscape. She discusses the expanded 45Q tax credit, the lingering uncertainty around the Greenhouse Gas Reporting Program, and why the slow pace of pipeline permitting has become a bottleneck for deployment. Yet, she says, investor confidence is growing fast — driven by clarity on incentives and insurance mechanisms to manage geological risk.
Finally, Shahul Hameed, Vice President of Global Oil & Gas Measurement Instrumentation at Emerson, explains how technology is catching up with policy. He shares how decades of oil and gas expertise are being repurposed for CO₂ transport and storage, and how automation, measurement accuracy, and data integrity are helping to de-risk projects. From AI-driven analytics to mass-based metering, Shahul outlines how precision is becoming the new currency of CCUS.
From finance and legal frameworks to field-level innovation, this episode captures the mood on the ground in Houston — one of optimism, collaboration, and rapid evolution. As Sylvia concludes, “Finance follows certainty. The incentives are there, the technology is advancing, and the industry is learning fast.”
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As RE+ 2025 wrapped up in Las Vegas, the mood across the show floor was one of contradiction: anxiety, anger, optimism, and opportunity all rolled into one. In this episode, Sylvia Leyva Martinez – Research Director and analyst covering global solar markets - sits down with Chris Seiple, Vice Chair of Power & Renewables, and Kasim Khan, Senior Analyst at Wood Mackenzie, to unpack the forces shaping today’s energy market. From the shockwaves of OB3 and FEOC restrictions, to investors navigating the whiplash of shifting subsidy regimes, Sylvia, Chris and Kassim talk about the conversations they’ve had with developers and manufacturers. Everyone is facing the same dilemma: double down on building compliant supply chains or hold back in anticipation of yet another policy reversal? Meanwhile, the collapse of early-stage development activity and the race to prove FEOC compliance are reshaping priorities across the industry.
But there’s more than just uncertainty, there’s also innovation. Utilities are experimenting with new ways to fast-track data center interconnections, EPCs are doubling down on execution, and storage is emerging as the wildcard technology that could reshape both grid reliability and investor confidence. With US utilities already committed to 99 GW of new load from data centers - equivalent to nearly 15% of peak demand - the industry faces a defining test. Will the removal of subsidies finally level the playing field for capital, or will it strip away the last federal lever for climate policy? Tune in to hear why industry leaders believe we are living through the most uncertain moment in US clean energy history, and why that uncertainty could also create the biggest opportunities yet.
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Recorded live at RE+, Sylvia Leyva Martinez, Research Director at Wood Mackenzie, hosts Ryan Chen and Neil Bradshaw from Hithium to unpack the true costs of OB3, the constraints on innovation and fire safety as result of the bill, and the future possibilities for AIDC.
Neil Bradshaw is Director of Global Applications Engineering, and takes the view that even US manufacturers aren’t immune from the OBBA’s sweeping impact on supply chains: “imagine you are a manufacturer based in the US but you're importing parts, and all of a sudden you have a policy that comes through that changes how you bring in parts and maybe you can't find local cells or you can't find a certain component,” he says. How are manufacturers responding to this uncertainty? How are they planning for the next few years, never mind decades?
Ryan Chen is Chief of Staff to the Chairman at Hithium, and he shares with Sylvia how Hithium is betting big on Texas manufacturing, investing before they even had offtake agreements in place. You’ll hear how they’re importing not just equipment but full-scale Chinese manufacturing practices - down to autonomous container movers - and why true scale is the only way to compete.Plus, hear how AI is driving new demand for storage, how bankruptcies are shaking up the talent market, and why even something as small as a paint colour change can cost millions in safety testing.
Got power? At Hithium Energy Storage, we make sure the answer is always yes. Hithium delivers safe, reliable, profitable energy solutions that keep the clean energy transition moving forward. Let green energy benefit all. Trusted worldwide, built to last.
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Despite the US adding 4.3 gigawatts of solar manufacturing capacity in Q2, there were no additions to the upstream components of polysilicon wafer and cell manufacturing. As gas prices continue to rise and the demand for alternative power supplies grows, get a detailed look at what big names in energy are doing to get over the hurdles.
On her second day at RE+ in Las Vegas, Sylvia Leyva Martinez, Research Director at Wood Mackenzie, explores the trajectory of solar and storage. Alongside industry experts, this episode of Interchange Recharged discusses the exciting yet challenging future of solar energy and energy storage amidst changing policy landscapes and growing demand. Sylvia and her guests explore and explain the dynamics of solar capacity, regulatory and financial challenges such as One Big Beautiful Bill (OB3) accelerating the phase-down of key tax credits, and emerging technologies fueling the renewable energy sector.
This episode includes an exclusive excerpt from Sylvia’s presentation with the Solar Energy Industries Association (SEIA). She discusses energy policy uncertainty, market saturation in the solar energy industry, and manufacturing hurdles in the renewable energy space.
Featured guests in this episode of Interchange Recharged:
Sean Gallagher, Senior Vice President of Policy at SEIA Steven Munson, Valuation and Tax Credit Advisor for Energy Transition at CohnReznikIn this episode, Sylvia and her guests discuss:
The State of Solar Energy and Storage - Sean discusses why solar and energy storage are crucial for power demands in the coming years, emphasizing their role in new energy infrastructures. Impact of Policy Changes - Sean and Sylvia explore the effects of recent legislative changes, including the projected decline in solar installations post-2027, and how peak chaos impacts the industry. Investor Perspectives and Valuations - Steven shares insights on current investor sentiments, valuation challenges, and trends in renewable energy financing. Technological Advancements – The guests discuss strategies to improve efficiencies in solar modules, automated permitting, and innovations aiming to lower costs. Looking Into the Future – Sylvia and her guests explore potential long-term effects of emerging technologies like AI on power markets and the need to adapt quickly to policy updates.--
Interchange Recharged explores clean tech, green finance and energy innovation, the three lanes on the road to a successful global energy transition. At the intersection of these lanes is a place where ideas on finance, technology and policy are shared and debated.
Sylvia Leyva Martinez, Research Director at Wood Mackenzie, and her guests bring you data and forecasts on clean technology, climate change, and offer predictions on the build out of utility-scale projects and the future of green finance.
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Check out another leading clean tech global podcast by Wood Mackenzie, Energy Gang, at woodmac.com/podcasts/the-energy-gang
Wood Mackenzie is the leading global data and analytics solutions provider for renewables, energy and natural resources. Learn more about Wood Mackenzie on the official website: https://www.woodmac.com/
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