The Next-Gen IPP Podcast Series

IPPs have always been at the forefront of clean energy, and today many are rapidly evolving into what we call Next-Gen IPPs.

To understand what that shift really looks like, we interviewed eight senior leader, asking them the same set of questions:

1. What does the term IPP mean today?
2. How is the sector evolving?
3. What commercial and operational capabilities are most critical – and how are you strengthening them?
4. What is your approach to energy management capabilities such as origination, portfolio management, balancing, and short-term trading.
5. What is your IPP stack in terms of data, tools, and teams?
6. What challenges and opportunities do you foresee over the next three years?
7. What advice would you give to peers across the industry?

Episode 32 | The Big Repricing: How Volatility and BESS Reshape Clean Energy Markets with Dominique Hischier of Pexapark

Welcome back to The Pexapark Podcast! In the first part of the episode, Luca Pedretti is joined by Dominique Hischier, VP – Editorial & Analysis at Pexapark, to unpack the big theme of Pexapark’s Market Outlook 2026: The Big Repricing – how volatility and BESS reshape clean energy markets.

In the second part of the episode, Luca turns to recent Pexapark market intelligence on the world’s largest power market, PJM, and how it is being reshaped by rapid data center demand growth and thermal retirements.

Episode 31 | Merchant Value & Volatility: Decoding BESS Bankability with Niels Jakeman of NORD/LB

Welcome back to The Pexapark Podcast! In the first part of the episode, Luca Pedretti is joined by Niels Jakeman, Head of Energy Origination Europe at NORD/LB, to explore how battery storage is being financed today and what lenders look for as the market matures.

In the second part of the episode, the focus turns to recent Pexapark market intelligence, with a closer look at France’s new power market regime following the expiry of the ARENH mechanism.

Episode 30 | Corporate PPA & The “Hourly Debate” with Jim Boyle of Sustainability Roundtable

Welcome back to The Pexapark Podcast! In the first part of the episode, Luca Pedretti is joined by Jim Boyle, CEO and Founder of Sustainability Roundtable, for a wide-ranging conversation on how corporate renewable procurement is evolving across the US and Europe.

In the second part of the episode, we turn to recent Pexapark market intelligence. We look at the EU’s upcoming Carbon Border Adjustment Mechanism (CBAM) and why its strict requirements around physical, hourly-matched PPAs may limit near-term uptake in Southeast Europe and Turkey.

Episode 29 | Risk, Discipline and the Evolution of Trading & Origination with Domenico De Luca of Axpo

Welcome back to The Pexapark Podcast! In the first part of the episode, we zoom out and look at how power markets are shifting across regulation, prices, and the wider energy world. ERCOT is launching real-time co-optimization and fully integrating BESS – the biggest reform since nodal pricing. Germany is moving toward dynamic grid fees that reward flexibility and penalize congestion. Denmark is abandoning “first come, first served” grid queues in favor of maturity-based prioritization.

In the second half, Luca Pedretti speaks with Domenico De Luca, Head of Trading & Sales and Executive Board Member at Axpo, for a deep dive into how one of Europe’s largest trading organizations is navigating volatility, managing global portfolios, and preparing for a future shaped by renewables, storage, and shifting market fundamentals.

Episode 28 | Inside the Rise of Storage with Tom Thunell of Tyba

Welcome back to The Pexapark Podcast! In the first part of the episode, we look at how policy and markets are converging around storage and flexibility. Germany is preparing an industrial power price subsidy from 2026, offering 50 €/MWh for part of energy-intensive companies’ load over three years, while France’s EDF has widened access to its long-term nuclear-based contracts to thousands more companies beyond just heavy industry.

In the second part, Luca Pedretti speaks with Tom Thunell, co-founder of Tyba, about how the US battery storage market is evolving and what this shift means for IPPs transitioning from traditional renewables into storage-heavy portfolios.

Episode 27 | The Queen of PPAs: Natasha Luther‑Jones on how Deal Making in Renewables & BESS is Evolving

In the first part of the episode, we review key developments shaping renewable energy dealmaking. Across Europe, regulation is evolving to stabilize short-term markets and accelerate grid connections – from Germany refining its Energy Acts to allow grid charging for co-located assets, to Italy’s DL Energia decree and Energy Release 2.0 program supporting grid access and industrial demand. Spain is expediting storage permitting and introducing data center regulation to boost renewable electricity use.

In the second part, Luca Pedretti speaks with Natasha Luther-Jones, Partner and Global Co-Chair, Energy and Natural Resources Sector at DLA Piper, about how PPA structures and legal frameworks are adapting to a more complex market shaped by hyperscaler demand, storage growth, and evolving risk allocation.

Episode 26 | Ahead of RE-Source: SolarPower Europe’s Walburga Hemetsberger on Solar, Storage, and Europe’s Next Energy Chapter

In the first part of the episode, we cover big shifts in renewables: France unveiled a revamped capacity market (centralized RTE-run auctions from November 2026) and a new injection tariff guiding storage behavior to ease grid congestion. Italy’s FER-X solar and wind auctions landed right in line with Pexapark’s fair-value benchmarks, while Germany’s Innovation auction showed sharper competition and only a small premium for solar-plus-storage projects.

In the second half, Luca Pedretti speaks with Walburga Hemetsberger, CEO of SolarPower Europe, about how solar is evolving from pure generation to a cornerstone of flexibility.

Episode 25 | Watt’s Up: Engie’s Take on BESS and 24/7 CFE

In the first part of the episode, we cover big shifts in renewables: Europe’s day-ahead power market now trades in 15-minute intervals, boosting flexibility and volatility – a win for batteries and flexible demand. Switzerland’s new Acceleration Act aims to cut renewable permitting times dramatically, while Poland stands out with its first major BESS framework deal (1.3 GW / 5.2 GWh).

In the second half, Luca Pedretti sits down with Katrin Fuhrmann, Managing Director of ENGIE, to discuss how utilities are redefining their role in the renewable transition.

Episode 24 | The State of Co-Location. The Way forward for Hybrid PPA

In the first part of the episode, we look at key market shifts: Germany launches a €500m guarantee scheme to revive its stalled PPA market, Italy’s FER-X auction confirms solar’s dominance with many projects now turning to PPAs at €54–60/MWh, and the Netherlands injects €1.2bn to rescue offshore wind. Battery revenues in Europe dipped on weak summer volatility but are already recovering, while the U.S. set a record with 4.9 GW of new storage in one quarter.

In the second half, Jens Holstein – EVP Advisory at Pexapark – joins Luca Pedretti to explore the state of co-location.

Episode 23 | State of the Spanish Offtake Market Post-Blackout

In the first part of the episode, we dive into a fast-moving month for policy and pricing: the EU’s ETS review and fresh UK CfD momentum, a surprise SDE++ underspend in the Netherlands, and Spain’s storage-first push with generous capex support. We zoom in on market signals: Poland’s PPA landscape with easing risk discounts (notably for onshore wind) versus solar’s capture headwinds; the US split-screen of ERCOT’s storage boom and PJM’s hyperscaler-fueled demand premium; and why surging Nordic balancing costs are rewriting short-term risk and contract structures across Europe.

In the second part, Jesús Boccio – Senior Originator at Pexapark – joins to unpack the state of Spain’s offtake market after this year’s blackout.

Episode 22 | Unpacking the 5 Key Trends That Paint the Full Picture of Europe’s PPA & BESS Offtake Markets

In the first part of the episode we look at what shaped offtake in H1 2025. From Romania’s solar surge to Sweden’s oversupply crunch, Europe’s offtake markets are shifting fast. Spain is fast-tracking batteries, the EU is cutting power costs for industry, and with PPAs under €50/MWh, mark-to-market is the new norm.

In the second half, we’re joined by Dominique Hischier – VP – Analysis & Editorial at Pexapark to unpack the trends behind the numbers.

Episode 21 | PJM in Flux: Capacity Price Spikes, Renewables & How The World’s Largest Power Market Works

In the first part of the episode, we unpack what’s been moving the renewable energy markets over the past weeks. From the sweeping impact of the “Big Beautiful Bill” reshaping U.S. clean energy, to PJM’s latest capacity auction price spikes, we explore how policy shifts and market dynamics are changing the trajectory of long-term renewables.

In the second part of the episode, Yaniv Yaffe, Senior Product Manager at Pexapark joins us for a deep dive into what makes PJM tick.

Episode 20 | From Data to Benchmarks: How Price Reporting Shapes Markets

In the first part of the episode, we dive into recent developments shaping the renewable energy landscape—from GoO market oversupply and evolving quality demands to PJM’s record-breaking capacity auction and its surprising link to hyperscaler demand.

In the second part of the episode, Owain Johnson – Global Head of Research at CME Group and author of Price Reporters – joins us to unpack how price benchmarks are made and why they matter so much.

Episode 19 | From Electrons to Intelligence: How Crusoe Powers AI with Modular, 24/7 Energy

In the first part of the episode, we unpack Europe’s latest regulatory moves, starting with Italy’s FER-X auction, which drew over 20 GW in bids – double its cap – signaling a shift to a more mature offtake market. In Germany, BESS deal activity remains strong despite a court-backed BKZ grid levy. Meanwhile, the UK delivers long-awaited clarity: CfD tenors extended to 20 years and zonal pricing officially ruled out.

In the second part of the episode, Forrest Carroll – Energy & Infrastructure Lead at Crusoe – joins us to explore how AI infrastructure is reshaping energy procurement. From modular compute units to megawatt-scale data center builds, Forrest shares a first-hand view into how power strategy meets AI ambition.

Episode 18 | Charged Up: The Rise of Europe’s BESS Offtake Market

In the first part of the episode, we review the main headlines from across the pond, spotlighting PJM’s proposed revised rules for renewables participation in its capacity markets, all while the passage of the “Big Beautiful Bill” already impacts PPA deal-making in the country.

In the second part, Apostolis Valassas – Lead BESS Analyst at Pexapark, takes us for an intense ride on all things BESS offtakes in Europe. Deal flow in 2025 has evolved remarkably, and all eyes are on how players are capitalizing on the rapidly emerging opportunities.

Episode 17 | All Things BESS Optimization With enspired

In the first part of the episode, we reflect on the proposed rollback of the US’ clean energy tax credit scheme for renewables and potential short-term and medium-term impacts.

In the second part of the episode, Juergen Mayerhofer – CEO and Founder of enspired, BESS and power assets optimiser – discusses the exciting but challenging task of helping an asset owner understand the behaviour of a BESS asset.

Episode 16 | Unpacking the Dynamic Italian PPA Market

In the first part of the episode, we review some turbulent developments in anti-renewables regulation at the US state and federal levels, as well as the evolution of ERCOT’s PPA price assessments following the market’s revised long-term load forecast. More topics include Denmark’s revised offshore wind framework, and the implications of booming solar in Poland, Portugal, Spain and France.

Episode 15 | The Rise of the Next-Gen IPP

In the first part of the episode, we review the latest regulatory updates, including Greece’s fast track of 4.7 GW of new standalone merchant BESS and Germany’s consultation on a grid fee reform. More topics include a spotlight on the current play of Virtual PPAs in Europe and lessons from Spain’s April 2025 blackout from a PPA contractual perspective.

Episode 14 | What Makes ERCOT Such a Vibrant and Complex Energy Ecosystem?

Welcome back to The Pexapark Podcast! In this episode, before we go deep into the dynamics of the Texas energy market, we start with an edit of key developments in European renewables. Topics include early takeaways from the Spanish blackout, the latest from Italy’s MACSE auction and possible strategy decisions by players, and Germany’s proposes bidding zone split. We also dive into the increasingly notable trend of rising balancing costs, the price divergence in the Nordics and more.

Episode 13 | From Backbone to Back Up? Understanding Gas’s Role in Setting Future Power Prices

Welcome back to The Pexapark Podcast! In this episode, we start with an ERCOT edit, including an update on the energy market’s PPAs and Tolls pricing following Trump’s tariffs on Chinese imports; a major load forecast revision, and the rising political tension in Texas. More topics include the proposals of the French energy regulator to boost the local PPA market, Germany’s latest EEG solar auction, and more, followed by a deep dive into the evolving nature of gas markets.

Episode 12 | Inside the Booming European Short-Term PPA Market

Welcome back to The Pexapark Podcast! In this episode, we start by unpacking Italy’s first FER X auction and how it could impact the country’s PPA market. More topics include Poland’s new support scheme for BESS, the two drivers affecting PPA valuations recently, and the data centers boom in the Nordics, followed by a dive deep into one of the fastest-evolving segments of the renewable energy landscape – the booming European short-term PPA market.

Episode 11 | The 24/7 Challenge: Matching Clean Power Hour by Hour

In this episode, we take you through a ride from Texas’ forward-looking ‘firming obligation’ proposal for new renewables, to the latest headlines in Europe – including Portugal’s political quicksand, Poland’s possible upcoming onshore wind opportunity, and the latest subsidy schemes developments in Greece, France and the UK and more, followed by a deep dive into the challenges of hourly matching for 24/7 straight from hands-on industry experience.

Episode 10 | Europe’s Dynamic Battery Storage Business Models

On the regulatory front of this episode, we discuss the European Investment Bank’s credit guarantee scheme for PPAs, and some initial reactions from industrial offtakers. More topics include the vibrant Italian energy storage market and its latest developments and reflections on the increased support for nuclear coming from big tech companies, followed by an in-depth conversation on all things battery offtake agreements in Europe.

Episode 9 | The Evolution of PPA and Tolls Pricing in ERCOT

In this episode we discuss why EU’s Clean Industrial Deal could be a game-changer for PPAs and the takeaway from France’s TURPE 7 grid reforms. The latest pricing insights in two of the most liquid renewable PPA markets, Germany and ERCOT, reveal diverging trends. More topics include the evolving syneries of AI data center demand and battery storage forecasts in ERCOT and PJM, followed by an in-depth conversation on the evolution of PPA and Tolls pricing in the former.

Episode 8 | Tackling Margin Compression in Renewables Investment

In the eighth episode of The Pexapark Podcast, Luca kicks off with an edit of Europe’s latest regulatory updates while also touching upon Norway’s socio-political crisis on the back of the country’s hydro contribution to the continent’s mix. More topics include Germany’s new offshore wind pipeline, Spain’s emerging financing challenges, GB’s mismatch of pricing expectations, and more, followed by a focused discussion on the shifts and trends shaping renewable markets in 2025.

Episode 7 | Commodities & Energy Transition in 2025

In the seventh episode of The Pexapark Podcast, Luca contemplated the US’s latest energy policy updates following President Trump’s prolific executive orders over his first term weeks. More topics include the impact of the new AI tool DeepSeek on PPA prices and energy demand discussions; battery storage stories from around the globe, and more, followed by a guest interview on the macro themes in energy commodities for 2025.

Episode 6 | The State of 24/7 Offtakes

In the sixth episode of The Pexapark Podcast, Luca reflects on Europe’s recent CfD rounds and how they compare to PPA prices in France, Poland and Germany. More topics include Norsk Hydro’s new risk management strategy for procurement; why 2025 could transform Europe’s offshore wind; the hidden messages behind Constellation Energy becoming the biggest power generator in the US and more, followed by a 360 discussion on the state of the 24/7 procurement journey.

Episode 5 | Energy Transition – Investing where it hurts: Where would Laurent Segalen put his money?

In the fifth episode of The Pexapark Podcast, Luca discusses major stories indicating that 2025 will be the year of batteries: from year-end capacity forecasts by key grid operators highlighting an upcoming storage boom to Spain’s Capacity Market. More topics include Better Energy’s restructuring; the latest updates from France’s ‘Nuclear Renaissance’ and more, followed by a candid chat on energy transition investment with Laurent Segalen.

Episode 4 | Beyond Standard PPAs: Practical Reflections on New Types of Power Deals

In the fourth episode of the Pexapark Podcast, Luca critically reflects on Denmark’s offshore wind setback; Germany’s oversubscribed auction and how it stacks up against PPA prices; toxic energy debates on the back of the second Dunkelfaute; the doom and gloom of Swedish onshore wind and more, followed by a vibrant discussion on exciting new PPA structures in the market.

Episode 3 | Unlocking the Power of Multi-Buyer PPAs

In the third episode of The Pexapark Podcast, Luca’s commentary on all things global renewables and PPAs includes the attractiveness of GSE’s Energy Release Platform destined to serve Italian energy-intensive industrials; Spain’s energy storage consultation; US’s Grain Belt Express high-voltage direct line project confirming that there’s no transition without transmission, and more, followed by a spotlight conversation on Multi-buyer PPAs.

Episode 2 | The German PPA Market at Crossroads

In this episode of The Pexapark Podcast, our edit of market developments includes an initial overview of the possible impact that Trump’s return could have on the US’s energy transition; Sweden’s rejection of 32 GW offshore wind on the back of security concerns; controversial discourse on the back of the German Dunkelfaute and more thought-provoking developments across the globe, followed by a spotlight conversation on Germany’s PPA Market.

Episode 1 | Negative Prices and PPAs

This year has seen record levels of negative pricing hours, and the situation could get worse before it gets better. How the risk affects both clean energy sellers and buyers is one of the hottest topics, with many question marks on how the market can balance out the situation. To shed light on this complex issue, Luca sat down with Dominique Hischier, Pexapark’s Head of Analysis, to explore the drivers behind the phenomenon and key implications for PPA negotiations.