External Publications

Powering the Energy Transition Through Joint Ventures and Partnerships

The energy transition is facing headwinds at a crucial time for maintaining momentum – but the explosion of new joint ventures and partnerships in clean energy is a bright spot.

MARCH 2024 – Massive capital demands, complex regulatory requirements, and high interest rates are threatening to bring the green energy transition to its knees at a crucial time for maintaining momentum. The International Renewable Energy Agency (IRENA) estimates that by 2030, the world will need to add 1000 GW of new capacity every year to keep global warming below the critical threshold of 1.5 degrees Celsius set in the 2015 Paris Agreement. That would mean average annual investment of more than USD 1.3 trillion by 2030 – a number that the world is nowhere near reaching.

Addressing the greatest collective action challenge that humanity has ever faced will require monumental efforts in both the public and private sectors. Governments must take radical action to catalyze the energy transition with a variety of carrot-and-stick approaches to incentivize clean energy investments and penalize carbon emitters. Companies, for their part, will need to work together to overcome the massive financial and technical hurdles involved in deploying the renewable electricity generation we need – and to deploy crucial enablers like clean hydrogen and carbon capture at scale.

Partnerships – whether joint ventures or less-formal formal alliances – are not a nice-to-have but an imperative for the energy transition to succeed and should be treated as a standard modus operandi in clean energy. Our new article in Renewable Energy World presents the latest data in clean energy partnership formations from the Ankura Joint Venture Index, explores the motivations behind these partnerships, and offers advice to clean energy dealmakers on how to set up new partnerships for success.

Read the full article in Renewable Energy World.

About the Authors

Benjie Jenkins

Benjie Jenkins is a Director with Ankura based in Washington, DC. He works with our clients throughout the launch and integration process of new joint ventures and supports them in refining management and governance practices of existing joint ventures. He focuses on the oil and gas, renewable energy, and mining sectors, but works across industries. Benjie is a graduate of Dartmouth College.

Shishir Bhargava

Shishir Bhargava is a Managing Director at Ankura based in Washington, DC. He advises clients on transactions and their post-deal governance in the energy, natural resources, and technology sectors. His transaction experience includes developing deal strategies, screening investments, structuring and restructuring joint ventures, and minority equity investments. He also helps companies build transaction capabilities and negotiate better outcomes. Prior to Ankura, Shishir worked at IBM where he led JV and partnership deals and at Hero MotoCorp of India, the world’s largest motorcycle manufacturer, which was established as a joint venture with Honda Motorcycles of Japan.

Joshua Kwicinski

Joshua Kwicinski is a Managing Director based in Washington, DC. He has more than a decade of experience in advising on all aspects of the partnership lifecycle, including deal strategy, transaction structuring, ongoing governance, and restructuring/exit. He has advised senior executives and dealmakers at both a corporate and individual JV level across a range of industries, including oil and gas, metals and mining, aerospace and defense, financial services, biotechnology, and others.


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