Recent high court rulings and 2024 Presidential and Congressional elections in the US underscore the deep regulatory uncertainty that today’s investors face when they deploy capital in the energy space. As financial and capital markets review the capacity of "green" assets and projects to withstand a change in US energy policy, the context for the energy transition has changed. Access to capital for energy transition has been shaped by the way financial institutions leverage supportive policy, so a shift in policy has implications for the speed and scale of projected changes in the US energy mix. Which energy transition technologies, assets and projects have reached a financial “tipping point” that buffers them against policy uncertainty? Which investments — or disinvestments — will be the most “sticky”? As part of Climate Week NYC, we will hear from a range of investors focused on the energy transition about making investment decisions in the context of these questions.
This session will be hosted in person as well as virtually.
SPEAKERS
Michael Delucia
Mike Delucia is a sector lead focused on energy, buildings, and cities in Wellington Private Climate Investing. He manages the firm’s private-company investment activity in companies developing climate solutions within energy, buildings, and cities, working closely with portfolio managers, global industry analysts, and other global research resources within the firm to identify and pursue investments. Prior to joining Wellington Management in 2021, Mike was a founding partner at Sidewalk Infrastructure Partners (SIP), where he led all aspects of the investment process for companies and projects in the infrastructure technology space, with a focus on investments in the energy transition and the built environment. SIP is a spin-off of Alphabet’s cities-of-the-future arm, Sidewalk Labs, where Mike led venture investments and incubations in the energy, water, waste, and mobility sectors. He was also previously a vice president in the Energy Markets Division of Macquarie Group, investing directly in the energy and power sectors. Mike began financing energy companies as a project finance analyst at HSH Nordbank, then as an investment associate at Nereus Capital and previously as an analyst at J.P. Morgan Investment Bank. Mike holds a BA in philosophy and economics from Brown University.
Stephen J. Humes
Stephen J. Humes is a partner in Holland & Knight's New York and Stamford offices and practices environmental, energy, public utility and infrastructure law. He has substantial experience advising clients on renewable energy project finance and development, especially grid scale and net metered solar photovoltaics, offshore wind and geothermal. For decades, he has advised clients on energy regulatory and environmental issues, including those associated with conventional and renewable power plant development, cogeneration, liquefied natural gas and pipeline facilities, geothermal and other utility facility siting matters. His energy-related environmental experience includes advising on environmental justice and climate change issues. Humes is a key member of the firm's Green Bank Financing Practice and International Energy Project Finance Team, supporting investments in North America and beyond. Humes guides clients through state and federal administrative proceedings, including advancing rate cases in administrative litigation and defending clients in enforcement actions. He also counsels clients on a full range of state and federal environmental compliance and enforcement matters and handles energy and environmental issues effectively in corporate M&A transactions, including acquisitions and divestitures of power plants. Humes received his undergraduate degree from Fairfield University and his J.D. from Quinnipiac College School of Law.
Wafaa Ermilate
Wafaa has over 22-year experience in the banking space, building client relationships and structuring deals in the infrastructure and energy sectors. She currently leads the Energy team in the Americas for ING, covering the renewable, hydrocarbons and new energies spaces. Prior to that, she led the Hydrogen team with a global focus and built the Energy and Infrastructure team for Spain and Portugal into an important player in that market. Over the span of her career, she advised, structured and financed transformational events representing well over 75 deals and 100+bn in deal value, for a diversified client base including large infrastructure funds, industry players and IPPs with a focus on Europe and lately on the North American market. She started her career in M&A at Citigroup and later Daiwa Advisory, based in London and Madrid, before joining ING in 2006. She graduated as Ingenieur de Gestion, from the Solvay Business School, Universite Libre de Bruxelles.
MODERATOR
Katherine Spector
Katherine Spector is an independent consultant on energy markets and energy policy with ProSpector Energy Advisors. She is a longtime energy market analyst, having spent the past 15+ years producing thought-leading research at major banks including JPMorgan Chase and Deutsche Bank where was responsible for the banks' energy price forecasts and market. Her work supported bank traders and originators in all major regions, and clients ranged from oil and gas companies, to institutional investors, to representatives of US and international government. Ms. Spector is also on the board of the New York Energy Forum and serves as an advisory committee member for environmental non-profit Scenic Hudson. She was previously a fellow at Columbia University’s Center on Global Energy Policy, an adjunct faculty member at Columbia's School of International and Public Affairs and held term membership at the Council on Foreign Relations.
PROGRAM
5:30 - 6:00 PM: Registration
6:00 - 7:30 PM: Presentation and Discussion
7:30 - 8:30 PM: Reception
COST
This session is complimentary for all attendees.
Registration is required for all attendees. Please make sure to register in advance - only registered attendees can attend in person.
This event will not be recorded. The discussion will be off the record.
QUESTIONS
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