Pedro Amaral Jorge

The first draft of the Power Purchase Agreement was completely unbankable. That's more common than you might think. Many developing countries publish a template PPA for renewable energy projects. On paper, this looks efficient. In practice, those templates often fall far short of what’s needed to raise finance. The types of issues we see include: - A buyer with poor credit and no government guarantee - Developers forced to take grid and curtailment risks - Limited protection if the law or regulations change - Weak remedies on termination or political force majeure - Uncertainty around currency convertibility and offshore transfers - Lack of clear arbitration mechanism to resolve disputes - Term too short to repay the financing On those terms, it's impossible for an international lender to finance the project. As legal advisors, this is where we add value. We analyse risk allocation and negotiate the PPA into a version that lenders will actually accept. Fun(?) fact: I once spent 8 years negotiating a PPA with a state-owned power company. The PPA is the foundation for the entire financing. Get it right and everybody wins. Get it wrong and the project never gets built. 👉 I'm Kristian. I help sponsors, investors, and lenders get global energy, infrastructure and tech transactions structured and closed. Follow for insights - and let's connect. [Photo by Carolien van Oijen on Unsplash, with author's edits]

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Spain's grid operator warns of new voltage swings, urges measures to avoid blackout - By Reuters - October 8, 2025 https://lnkd.in/dW8vYxzQ Top is a marked up version of the energy supply stack from https://lnkd.in/dYs-i4am ahead of the blackout and on restoration. Bottom is stack last week from https://lnkd.in/deBTaaZN Sorry for the different color schemes!

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Every time a new BESS auction hits the headlines, the focus is on one number: the “record low tariff.” But in energy storage, the story doesn’t end there. The ₹/MW/month figure tells only half the tale — it ignores many important aspects which the discoms have to bear. The cheapest bid on paper may not deliver the most reliable, long-lasting energy. It’s time to look inside the box and evaluate the real value of storage systems over their entire lifetime. My Blog on why BESS tariff are misleading- https://lnkd.in/gWkS7zg7

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📈How close are we to #3xRenewables? Next week at the official Pre-COP in Brasília, International Renewable Energy Agency (IRENA) D-G Francesco La Camera, COP30 Brazil President André Corrêa do Lago, and GRA’s Chair Ben Backwell will reveal the latest global progress. Are we on track to 11.2 TW of renewables by 2030 - or do we need to pick up the pace? Get ready for the data, the insights, and the action plan to deliver a clean, secure, and just energy future.

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Five new cross-border renewable energy projects join the CB RES list! 🎉 The European Commission has added five new projects to the list of Cross-Border Renewable Energy Projects (CB RES) under #CEFEnergy. These projects, spanning offshore wind, solar, battery storage, and green district heating, strengthen Europe’s #RenewableEnergy cooperation and are now eligible to apply for #EU funding to accelerate their development. With this update, the CB RES list now includes 13 projects driving the EU’s clean energy transition and reinforcing cross-border collaboration 🙌 Read more about the projects 👉 https://europa.eu/!9dJTDC Utilitas Augstsprieguma tīkls AS Zhero DGEG - Direção Geral de Energia e Geologia e Geologia Enefit Green ExergonPL ENTSO-E

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Did you know that in 2022, the European Union had one gigawatt of net geothermal electricity capacity and 395 district heating systems in operation*? The EU aims to raise renewables in its energy mix from 24.6% in 2023 to 42.5% by 2030 under the Renewable Energy Directive, with geothermal joining solar and wind as contributors. Geothermal for power generation, as well as district heating and cooling will play a key role in reaching this objective as one of the eight strategic technologies in the Net Zero Industry Act. From a geoenergy solution for individual building heating and cooling, to thermal networks, to discrete or integrated solutions for geothermal well construction and power generation, SLB offers the HSE track record, geothermal, engineering, and subsurface expertise, as well as differentiated technology portfolio to deliver techno-economic projects. Learn more about how our technology portfolio helped clients across Europe solve their distinct district heating challenges in the brochure below. Find out more at SLB : https://lnkd.in/g2ammw3B Ref.:* Geothermal energy, European Commission #SLBNewEnergy #WeAreSLB #Geothermal #PowerGeneration

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A new report from SolarPower Europe shows there’s historic progress: ☀️ In June 2025, solar became the EU’s largest source of electricity for the first time ever. ☀️ In Q2 2025, more than half (54%) of the EU’s net electricity came from renewables. ☀️ By the end of 2024, the European solar industry employed a record 865,000 people, up 5% from the previous year. Our own Rob Stait spoke with Euronews Green on why solar is booming: “Solar’s boom is because it can generate huge energy cost savings, and it's easy and quick to install and scale. A solar farm can be developed in a year, compared to at least five years for wind and at least ten for nuclear. But most importantly, it provides clean, renewable power and drastically reduces Europe’s reliance on oil and gas.” But, for the first time in a decade, growth is expected to stall: in 2025, jobs may decline by 5% to around 825,000. The slowdown is linked to weaker rooftop demand and challenges facing European manufacturing. The milestone of 1 million solar jobs now looks achievable only after 2030. The bottom line? Solar is already reshaping Europe’s energy system – but to keep momentum, political action on skills, manufacturing, and market stability is critical. Read the report 👉 https://lnkd.in/enfxRD4p Read the article in Euronews 👉 https://lnkd.in/ee835kp5

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There is a problem with the #EUHydrogenBank (EHB) auctions: funds are not being allocated. 🏦 The decision of the developers of the Zeevonk (246M€) and Lubmin (112 M€) projects to drop out before signing their grant agreements is worrisome, but so is the fact that €208 million of #funding was not allocated at all. This means more than half of the second auction budget (€1.2 billion) is not being disbursed, at a time when projects are crying out for more funding. Combined with the projects withdrawn from the first funding round, there is now €902 million of financial support for #hydrogen left on the table. While we understand that there is a reserve list of projects, there is no transparency on who they might be or how many projects are on the list. Moreover, the terms and conditions do not specify next steps in case of project withdrawal. This is a major blind spot in need of prompt rectification. In the case of Zeevonk, the developers cited delays to part of the Delta-Rhine Corridor pipeline project, while the Lubmin consortium cited the continued lack of #REDIII transposition at national level. Meanwhile, we must improve auction requirements in time for the third auction to ensure that winners will make use of the funding. Some of those options could be to: 1️⃣ Ask for more evidence on awarded permits, selecting more mature projects. 2️⃣ Increase completion bond to avoid speculative bids. 3️⃣ Provide more flexibility on entrance into operations with possible (progressive) penalties for delay instead of full loss of the grant. 4️⃣ Break into more varied baskets to avoid too much competition and to help increase the bidding prices. While it is still too early to draw many conclusions from the first two auctions, with projects still ongoing and yet to reach #FID, there are some lessons we can take already: 👉 Projects benefit from higher fixed premiums. In the current EHB framework, this is possible through Auction-as-a-Service and separate baskets. 👉 Projects from the first auction are progressing slowly: FIDs are supposed to be reached between 2025-2027 to enter into operations by 2029. 👉 Unused funding should be distributed to next in line projects, ensuring efficient use of the limited funding.

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