Meeting energy demand requires long-term solutions. What do they look like?
Interchange Recharged
Wood Mackenzie
4.8 • 535 Ratings
🗓️ 29 January 2025
⏱️ 42 minutes
🧾️ Download transcript
Summary
How a major US utility plans for sustainable growth.
The US is on track to see over 25% growth in annual clean energy installations this year, despite uncertainty around permitting and grid connections. The new Trump administration threatens much clean energy legislation, so how can the industry plan ahead? Annual clean energy installations are set to average 102 GW over the next 11 years, quadruple the 26 GW averaged over the past decade. The narrative around energy demand must acknowledge long-term trends, not just recent spikes.
Utilities recognise the need for increased transmission investment. Sylvia Leyva Martinez is joined by Sandhya Ganapathy, CEO at one such utility - EDP Renewables North America. Together they try and find the certainty in the uncertainty that lies ahead. The IRA is, as Sandhya says, a beautiful canvas. Is it about to torn down?
They discuss the growing demand for renewable energy, and the challenges faced by the grid. Are the economics of PPAs aligning to perhaps provide a path forward? Power purchase agreements are becoming more critical as companies lock in prices. Energy security is still top of mind, as is the need for a balanced energy mix to meet demand. Plus, Sylvia and Sandhya debate the significance of domestic manufacturing, the role of off-takers and the need to get communities onside when planning large energy projects.
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Transcript
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| 0:00.0 | Wood McKenzie's Solar Energy and Storage Summit is back in Denver on the 29th and 30th of April, |
| 0:06.2 | 2026. It's co-located with the brand new North American Power and Renewables Forum, |
| 0:11.9 | which features senior speakers from across the U.S. power sector. Come and join over 450 senior |
| 0:18.2 | leaders from U.S. power developers, utilities, and independent power producers |
| 0:23.3 | to tackle the industry's biggest challenges. From navigating life after tax credits to capturing |
| 0:29.7 | the load growth boom, discover how the energy mix is evolving and how the U.S. is going to meet |
| 0:34.9 | that power demand. Seats are limited, so register now at woodmack.com. |
| 0:40.7 | A week ago, Donald Trump was sworn in as president of the United States. |
| 0:45.2 | He's made no secret of his opposition to the Inflation Reduction Act, |
| 0:48.6 | describing it as the biggest tax hike in history. |
| 0:51.7 | But how big is the threat really to the IRA? |
| 0:57.1 | This is Sylvia Leva Martinez. Welcome to the interchange. Today, we're getting the view from a global renewable energy company. Fundamentally, we need to |
| 1:06.8 | have a different approach in terms of how we are looking at the grid, how seamlessly people |
| 1:10.9 | can actually deploy capital. Capital needs certainty. I always say that. How can you give the folks |
| 1:17.1 | who want to build transmission? How can you give them certainty so that they are able to build |
| 1:21.1 | lines across the U.S.? Sustainability and profitability can actually go hand in hand. You don't |
| 1:26.7 | have to compromise one |
| 1:27.7 | for the other. That was Sandia Ganapati, CEO of EDP Renewables North America. She joins me on |
| 1:33.9 | the show now to talk the present and future of U.S. renewables, the opportunities for the industry |
| 1:39.0 | and the forecast for U.S. energy policy. |
| 1:48.6 | I am honored to have Sandia Ganapathy on the show. |
| 1:54.0 | Among her many accolades, she has been named Changemaker in CNBC's Women Transforming Business List, Tamarindo's Energy Transition Power List, among many others. |
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