Complexity multiplies for infrastructure to power the transition

The expansion of power and infrastructure to support the energy transition is unfolding against a complex backdrop. Policy uncertainty, geopolitical tension, and shifting market forces are colliding with record investment and a rapidly evolving mix of technologies. Ralph Ibendahl, Global Head of Energy Transition and Co-head of Power Utilities for Europe, assesses the challenges and opportunities with expert colleagues from the U.S., Canada, and Australia.Key Points• Increasing global power demand is leading to growth across all power types and grids.• Policymakers need to balance affordability concerns with growth opportunities.• Recent deals include financing for a major nuclear project in Canada, and build-out of Germany’s grid.• Companies are drawing on a full mix of funding types, including infrastructure equity, private credit, and structured capital.• Many companies are turning to the public markets, where valuations are stronger.• RBC Capital Markets is guiding clients through this volatile market.