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Redefining Energy

Redefining Energy

By: Laurent Segalen and Gerard Reid
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Two investment bankers weekly explore how tech, finance, markets and regulations are radically redefining the world of energy: Renewable Energy, Electric Cars, Hydrogen, Battery Storage, Digitisation...
Your co-hosts: from Berlin, Gerard Reid and from London, Laurent Segalen.
Our LinkedIn page: https://www.linkedin.com/company/redefining-energy/
X handle: @Redef_EnergyLaurent Segalen and Gerard Reid Economics
Episodes
  • 237. Datacenters: "Let’s get Physical" with Quinbrook - Jul26

    237. Datacenters: "Let’s get Physical" with Quinbrook - Jul26
    Jul 13 2026
    Gerard and Laurent first welcomed David Scaysbrook to the podcast in Episode 66, back in January 2022, for a conversation about the future of 24/7 power. Four years later, it felt like the right moment to reconnect and take stock of how profoundly the market has evolved.

    Since then, Quinbrook Infrastructure Partners has continued to establish itself as one of the leading specialist investors in the energy transition, orchestrating and deploying billions of dollars of capital through project finance structures and platform companies. As of today, the firm has participated in more than $27 billion of transactions, developed or acquired over 240 projects, and built a portfolio exceeding 40 GW across the United States, the United Kingdom, and Australia.

    Our discussion traces Quinbrook's own transformation alongside that of the broader energy landscape. We revisit the firm's strategic exit from wind generation, marked by the sale of its Scout platform to Brookfield in 2023 for more than $1 billion, and explore how its focus has shifted toward utility-scale solar and long-duration energy storage across the United States and Australia.

    More fundamentally, David explains how Quinbrook has moved beyond the era of single-technology investment funds. Instead of financing isolated generation assets, the firm now builds integrated, multi-technology platforms designed to solve specific customer problems. The objective is no longer simply to inject generic electrons into the grid, but to work backwards from the needs of large electricity consumers—particularly hyperscale datacenter operators—and develop bespoke energy solutions around them.

    This philosophy is illustrated by Rowan, Quinbrook's datacenter development platform, which attracted a $1 billion co-investment from Blackstone. As hyperscalers race to deploy new computing capacity, speed has become the defining constraint. Waiting for the grid is no longer an option, making "bring your own power" an increasingly compelling proposition.

    The conversation also explores how advances in software and long-duration energy storage are improving behind-the-meter performance, allowing energy infrastructure to become more resilient, flexible, and economically attractive.

    Ultimately, David argues that we are witnessing a profound shift in thinking. In a world increasingly captivated by virtual technologies and digital intelligence, the greatest opportunities may lie in investing in the physical infrastructure that makes them all possible.

    “Let’s get Physical”
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    31 mins
  • 236. The Bankability of Energy Storage (Solar Power Summit) - Jul26

    236. The Bankability of Energy Storage (Solar Power Summit) - Jul26
    Jul 6 2026
    In May 2026, our co-host Laurent Segalen had the privilege of chairing a high-profile panel hosted by SolarPower Europe at its annual Solar Power Summit in Brussels, one of the leading gatherings for the European solar and energy storage sectors.

    In this episode, we bring you highlights from the hour-long conversation, featuring two distinguished industry leaders: Fredrik Andrén Sandberg from RWE and Hanna Kunzmann from EQT. Between them, their organisations oversee more than 10 GW of battery storage projects either in operation or under development, offering a unique perspective on the realities of financing and scaling storage assets.

    The discussion addressed one of the most important questions facing the energy transition today: the bankability of battery storage investments. As battery deployment accelerates across Europe and beyond, investors, developers, and policymakers are increasingly focused on understanding the risks and opportunities that will determine the sector's long-term attractiveness.

    The conversation examines battery bankability through four interconnected dimensions. First, technology risk: are batteries still exposed to meaningful technological uncertainty, or have the key challenges shifted towards commercial execution? Second, commercial risk: how should investors evaluate revenue models, merchant exposure, and the growing role of hybridisation strategies? Third, regulatory risk: what policy and market-design uncertainties could affect future returns, from evolving capacity mechanisms to unexpected rule changes? Finally, digital risk: how critical are cybersecurity, battery management systems (BMS), and energy management systems (EMS) in safeguarding performance and protecting asset value over the long term?

    The session attracted a packed audience in Brussels and has since been widely praised for the quality, depth, and practical insights of the discussion. Whether you are an investor, developer, policymaker, or simply interested in the future of energy storage, this episode offers a valuable window into how some of the industry's leading players assess risk and opportunity in one of the fastest-growing sectors of the energy transition.
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    26 mins
  • 235. European Sovereign Neocloud - Jun26

    235. European Sovereign Neocloud - Jun26
    Jun 29 2026
    Gerard and Laurent welcome Michel Boutouil, co-founder and CEO of Polarise, a leading European AI infrastructure provider and NVIDIA Cloud Partner based in Berlin. After discussing about what happens outside of a datacenter, it is time to dive inside one.

    Polarise is one of the few genuinely European NeoCloud companies — essentially a European counterpart to CoreWeave — specializing in GPU infrastructure for AI inference. Through its partnership with NVIDIA, Polarise designs its datacenters around the GPU rack itself, using liquid cooling from the outset rather than starting with a traditional real estate-first approach. The company has already developed AI factories in Germany, Norway and the UK.

    In the conversation, we explore the growing commoditization of large language models and why the real long-term value may lie in AI factories — facilities that are fundamentally different from conventional datacenters. Given Europe’s notoriously long grid-connection timelines, Polarise focuses on refurbishing brownfield sites with under 50MW of grid access instead of pursuing massive gigawatt-scale campuses. It’s a pragmatic “pod” strategy: adapt to the grid’s constraints rather than try to reshape the entire energy system.

    We also tackle the thorny issue of digital sovereignty. With the U.S. CLOUD Act allowing U.S. authorities access to data managed by American tech companies, it is fair to ask what hyperscalers are doing with European data — and whether Europe needs its own sovereign AI infrastructure. Polarise has secured €1 billion in backing from Swiss investor SWI Stoneweg Icona, but even that is modest compared with the hyperscalers’ spending power. For comparison, SpaceX has reportedly invested around $40 billion in Colossus 1 and 2 alone.

    So, what does the future of the European AI ecosystem look like? Michel’s answer is clear: Europe should not try to outspend China or the United States head-on. Instead, it should play to its strengths — smart execution, agility, flexibility, and the ability to learn quickly from the mistakes being made elsewhere.


    “Today’s show is supported by the BMW Foundation Herbert Quandt. The BMW Foundation unites leaders across sectors to develop solutions that foster an innovative economy and a future-proof society. A key focus is "Energy Transition & Climate Change," where the Foundation drives "International collaboration to accelerate the energy transition." With rising energy demands from AI and data centres, new partnerships, effective collaboration, and the exchange of science-based solutions and strategies are essential.”
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    32 mins
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