Shanu Mathew
@shanumathew.bsky.social
Climate, Investing, NBA, & Rap. SVP, Portfolio Manager - Sustainable Investing. Prev: Head of ESG, HY Credit, Startup (acq.) IB. Own Views. RTs ≠ endorsement.
Manufacturing reshoring + data center construction now exceed $250B annual spend, 2x+ from 2021. Grid modernization capex up 25-50% from historical levels. Natural gas turbine orders hit decade-high growth rate.
January 17, 2025 at 6:32 PM
Manufacturing reshoring + data center construction now exceed $250B annual spend, 2x+ from 2021. Grid modernization capex up 25-50% from historical levels. Natural gas turbine orders hit decade-high growth rate.
AI & data centers creating massive power demand. Utilities project 25-130GW new capacity needed by 2030 (current base ~25GW), driving grid infrastructure investments and benefiting established industrial players.
January 17, 2025 at 6:32 PM
AI & data centers creating massive power demand. Utilities project 25-130GW new capacity needed by 2030 (current base ~25GW), driving grid infrastructure investments and benefiting established industrial players.
Post related to pod: 2024 saw major divergence in clean energy stocks: Traditional cleantech (solar, wind, batteries) fell 25-35% while cleantech-adjacent industries like power equipment and HVAC showed strength, particularly in data center infrastructure.
www.shanumathew.com/2024-cleante...
www.shanumathew.com/2024-cleante...
January 17, 2025 at 6:32 PM
Post related to pod: 2024 saw major divergence in clean energy stocks: Traditional cleantech (solar, wind, batteries) fell 25-35% while cleantech-adjacent industries like power equipment and HVAC showed strength, particularly in data center infrastructure.
www.shanumathew.com/2024-cleante...
www.shanumathew.com/2024-cleante...
A fire-resistant home in LA survived devastating wildfires due to strategic design: minimal vegetation, concrete walls, simple roof lines, and fire-rated materials. This highlights how architectural choices could help protect homes as climate change intensifies wildfire risks.
January 14, 2025 at 3:29 PM
A fire-resistant home in LA survived devastating wildfires due to strategic design: minimal vegetation, concrete walls, simple roof lines, and fire-rated materials. This highlights how architectural choices could help protect homes as climate change intensifies wildfire risks.
A fire-resistant home in LA survived devastating wildfires due to strategic design: minimal vegetation, concrete walls, simple roof lines, and fire-rated materials. This highlights how architectural choices could help protect homes as climate change intensifies wildfire risks.
January 14, 2025 at 3:18 PM
A fire-resistant home in LA survived devastating wildfires due to strategic design: minimal vegetation, concrete walls, simple roof lines, and fire-rated materials. This highlights how architectural choices could help protect homes as climate change intensifies wildfire risks.
AI boom is fueling massive datacenter and power infrastructure buildout, but critical mismatch exists: compute adapts in months while power takes years to deploy. Lag is potentially causing overordering of power capacity, mirroring past boom-bust cycles but w/ long lead times.
January 14, 2025 at 3:05 PM
AI boom is fueling massive datacenter and power infrastructure buildout, but critical mismatch exists: compute adapts in months while power takes years to deploy. Lag is potentially causing overordering of power capacity, mirroring past boom-bust cycles but w/ long lead times.
Biden's order fast-tracks AI infrastructure by letting companies build data centers on federal land and streamlines power grid connections. Key shift: federal sites can help speed up permitting and interconnection for both data centers and clean power facilities.
January 14, 2025 at 2:05 PM
Biden's order fast-tracks AI infrastructure by letting companies build data centers on federal land and streamlines power grid connections. Key shift: federal sites can help speed up permitting and interconnection for both data centers and clean power facilities.
Has anyone confirmed these $ or do they just assume a market price * the tons announced?
"Microsoft, Google and others have recently invested close to $300 million in startups that believe they can realize that goal and develop carbon credits in the process."
"Microsoft, Google and others have recently invested close to $300 million in startups that believe they can realize that goal and develop carbon credits in the process."
January 14, 2025 at 1:51 PM
Has anyone confirmed these $ or do they just assume a market price * the tons announced?
"Microsoft, Google and others have recently invested close to $300 million in startups that believe they can realize that goal and develop carbon credits in the process."
"Microsoft, Google and others have recently invested close to $300 million in startups that believe they can realize that goal and develop carbon credits in the process."
"American household electricity consumption grew at an accelerated clip over the past five years amid hotter and longer summers, data going back to the late 1990s from the US Energy Information Administration show"
January 13, 2025 at 6:15 PM
"American household electricity consumption grew at an accelerated clip over the past five years amid hotter and longer summers, data going back to the late 1990s from the US Energy Information Administration show"
Fortress announces funds managed by affiliates have acquired assets of APR Energy, comprising 30 mobile gas-powered turbines with a combined energy generation capacity of 850 megawatts. The turbines are immediately available for deployment [for datacenters]
January 13, 2025 at 6:15 PM
Fortress announces funds managed by affiliates have acquired assets of APR Energy, comprising 30 mobile gas-powered turbines with a combined energy generation capacity of 850 megawatts. The turbines are immediately available for deployment [for datacenters]
The US plans massive gas power expansion: Enverus forecasts 80 new plants by 2030 (+46GW, 20% more than last 5 years). Wood Mackenzie and S&P project it can get even faster growth at 35-66% increase over 5 years, driven by AI computing demands and need for reliable power.
January 13, 2025 at 6:15 PM
The US plans massive gas power expansion: Enverus forecasts 80 new plants by 2030 (+46GW, 20% more than last 5 years). Wood Mackenzie and S&P project it can get even faster growth at 35-66% increase over 5 years, driven by AI computing demands and need for reliable power.
Excited to share that I got the opportunity to make an appearance on one of my favorite energy transition podcasts, 🎙Redefining Energy hosted by Laurent Segalen and Gerard Reid! We discussed market performance and outlooks for Cleantech and 'Cleantech-adjacent' equities. Listen below!
January 13, 2025 at 5:00 PM
Excited to share that I got the opportunity to make an appearance on one of my favorite energy transition podcasts, 🎙Redefining Energy hosted by Laurent Segalen and Gerard Reid! We discussed market performance and outlooks for Cleantech and 'Cleantech-adjacent' equities. Listen below!
CEG +25% on the day (reminder was +111% pre-announce).
Market telling you it likes purchase price. Believes in load growth. Likes angle of nuclear + gas & sees growth in TX and CA.
Calpine operates 79 facilities totaling 27.7 GW, mainly in TX, PJM, & CA; mainly natural gas.
Market telling you it likes purchase price. Believes in load growth. Likes angle of nuclear + gas & sees growth in TX and CA.
Calpine operates 79 facilities totaling 27.7 GW, mainly in TX, PJM, & CA; mainly natural gas.
January 10, 2025 at 7:56 PM
CEG +25% on the day (reminder was +111% pre-announce).
Market telling you it likes purchase price. Believes in load growth. Likes angle of nuclear + gas & sees growth in TX and CA.
Calpine operates 79 facilities totaling 27.7 GW, mainly in TX, PJM, & CA; mainly natural gas.
Market telling you it likes purchase price. Believes in load growth. Likes angle of nuclear + gas & sees growth in TX and CA.
Calpine operates 79 facilities totaling 27.7 GW, mainly in TX, PJM, & CA; mainly natural gas.
Moar Power deals (maybe): Virginia Transformer is exploring a sale that could value them at $6 billion+, amid soaring demand.
"Hitachi Energy, the world’s largest producer of transformers, in November warned that the industry is overwhelmed and unable to meet exploding demand"
"Hitachi Energy, the world’s largest producer of transformers, in November warned that the industry is overwhelmed and unable to meet exploding demand"
January 10, 2025 at 7:55 PM
Moar Power deals (maybe): Virginia Transformer is exploring a sale that could value them at $6 billion+, amid soaring demand.
"Hitachi Energy, the world’s largest producer of transformers, in November warned that the industry is overwhelmed and unable to meet exploding demand"
"Hitachi Energy, the world’s largest producer of transformers, in November warned that the industry is overwhelmed and unable to meet exploding demand"
Power M&A is so back: AEP agreed to sell a minority stake in its transmission business to KKR & Co. and Canada’s PSP Investments for $2.8 billion. Acquire a ~20% interest in AEP’s Ohio, Indiana and Michigan transmission companies. Investing in tx as electricity use set to surge.
January 10, 2025 at 2:52 PM
Power M&A is so back: AEP agreed to sell a minority stake in its transmission business to KKR & Co. and Canada’s PSP Investments for $2.8 billion. Acquire a ~20% interest in AEP’s Ohio, Indiana and Michigan transmission companies. Investing in tx as electricity use set to surge.
Good summary from Claude after feeding a few articles, will share a helpful NYT one in the replies to this.
It's a doom loop. "The fundamental challenge is pricing climate risk accurately while keeping insurance accessible"
It's a doom loop. "The fundamental challenge is pricing climate risk accurately while keeping insurance accessible"
January 9, 2025 at 5:19 PM
Good summary from Claude after feeding a few articles, will share a helpful NYT one in the replies to this.
It's a doom loop. "The fundamental challenge is pricing climate risk accurately while keeping insurance accessible"
It's a doom loop. "The fundamental challenge is pricing climate risk accurately while keeping insurance accessible"
+Munich Re published 2024's natural disasters caused $320B in losses ($140B insured), w/ weather events driving 93%. $136B from floods/fires, $135B from cyclones. Year ranked 3rd for insured losses since 1980, exceeding 10/30yr averages ($236B/$181B total, $94B/$61B insured).
January 9, 2025 at 5:18 PM
+Munich Re published 2024's natural disasters caused $320B in losses ($140B insured), w/ weather events driving 93%. $136B from floods/fires, $135B from cyclones. Year ranked 3rd for insured losses since 1980, exceeding 10/30yr averages ($236B/$181B total, $94B/$61B insured).
The preliminary estimate of financial impacts from the LA fires rank the incident among the costliest ever natural disasters in US, and likely nation’s most expensive ever wildfire.
January 9, 2025 at 5:18 PM
The preliminary estimate of financial impacts from the LA fires rank the incident among the costliest ever natural disasters in US, and likely nation’s most expensive ever wildfire.
Constellation in talks to buy Calpine in a deal close to $30 billion. Calpine is a privately held independent power producer w/ 77 generation facilities across 22 states and Canada. Adds fuel diversity with experience in gas, geothermal and renewables to CEG's nuke fleet.
January 9, 2025 at 4:26 PM
Constellation in talks to buy Calpine in a deal close to $30 billion. Calpine is a privately held independent power producer w/ 77 generation facilities across 22 states and Canada. Adds fuel diversity with experience in gas, geothermal and renewables to CEG's nuke fleet.
Winds have always sparked CA fires, but climate change has created pattern: wet springs grow more vegetation that becomes kindling during dry summers. When winter winds hit parched landscape packed w/ homes traditional ways of managing risk via insurance collapse.
January 9, 2025 at 4:25 PM
Winds have always sparked CA fires, but climate change has created pattern: wet springs grow more vegetation that becomes kindling during dry summers. When winter winds hit parched landscape packed w/ homes traditional ways of managing risk via insurance collapse.
Remember when NVIDIA was a gaming company? How quickly fortunes can change - right time, right place.
January 8, 2025 at 1:42 PM
Remember when NVIDIA was a gaming company? How quickly fortunes can change - right time, right place.
Damac Group CEO Hussain Sajwani announced a planned $20+ billion investment to build data centers across 8 US states: Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana. The announcement was made alongside President-elect Trump at Mar-a-Lago in Florida.
January 7, 2025 at 9:32 PM
Damac Group CEO Hussain Sajwani announced a planned $20+ billion investment to build data centers across 8 US states: Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana. The announcement was made alongside President-elect Trump at Mar-a-Lago in Florida.
McKinsey: Companies are expanding their environment/nature-related targets to beyond carbon and the proportion of companies focusing on multiple dimensions of targets is increasing. Biodiversity saw the largest percentage increase.
January 7, 2025 at 5:35 PM
McKinsey: Companies are expanding their environment/nature-related targets to beyond carbon and the proportion of companies focusing on multiple dimensions of targets is increasing. Biodiversity saw the largest percentage increase.
EIA provides net capacity additions (or in some fuel sources, net subtractions) over time as well as forward capacity installation projections and the additional capacity figure continues to tick up materially. Net additions of Nat Gas towards back half of decade picking up.
January 7, 2025 at 5:34 PM
EIA provides net capacity additions (or in some fuel sources, net subtractions) over time as well as forward capacity installation projections and the additional capacity figure continues to tick up materially. Net additions of Nat Gas towards back half of decade picking up.
What a visual: CA interconnection applications accepted per month
January 6, 2025 at 6:08 PM
What a visual: CA interconnection applications accepted per month