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From University to Finance in Renewables
During her studies at the University of St. Gallen (HSG), Iva Petkova took an unconventional path. While many of her peers pursued traditional business roles, she was drawn to the renewable energy sector. Today, she combines her business administration background with a passion for sustainable solutions, managing large renewable energy transactions alongside engineering professionals.
The Challenge: Rising Energy Demand
Global energy demand is set to increase significantly due to:
- Electrification of Mobility: The shift toward electric vehicles.
- Rise of AI and Data Centers: Growing computational needs.
- Electric Heating: Transitioning to electric heating systems.
Reducing consumption alone isn't enough. To maintain prosperity and quality of life, we must focus on:
- Producing More Clean Energy
- Improving Energy Efficiency
An Excurse: 2050 Energy Targets
Global electricity generation is projected to surge by 3% per year from 2020 to 2050, with rapid growth in developing countries and moderate increases in advanced economies.
- Europe: From 3,725 TWh in 2020 to 5,676 TWh in 2050 - a 52% increase.
- Africa: An almost 600% increase, reaching 5,970 TWh by 2050.
To put this into perspective, a typical 6 MW wind turbine in Germany generates about 10 GWh per year. Meeting Africa's 2050 electricity needs would require approximately 597,000 such wind turbines.
By 2050, renewables are expected to account for over 70% of global electricity generation, with Europe and the Americas nearing 80%. In Europe, renewable sources currently generate half of the electricity - a figure projected to rise to 66% by 2030 and 84% by 2050.
From Academic Insights to Real-World Impact
At university, Iva learned about the economic costs of climate change. However, her professional experience revealed that energy is far more than an academic topic - it's a critical component of the global economy and society. Energy impacts every industry's value chain.
Bridging Two Worlds
Entering the renewable energy sector, Iva discovered that while renewables are becoming more affordable, challenges like negative electricity prices for producers have emerged.
Managing large-scale renewable energy projects gave her insights into the diverse stakeholders driving the energy transition. Investors in renewable projects are more varied than she anticipated. Working with both technically minded engineers and financial investors required her to bridge the gap between these worlds.
"I'm accustomed to thinking that mastering the innovation curve and decreasing costs of new technologies will increase their adoption rate, but in the real world, many other factors such as secured revenues and regulations play a vital role." - Iva
The Power of Integrated Thinking
A key lesson from Iva's journey is the importance of integrated thinking. The energy transition isn't just about adopting renewable technologies but understanding how they work together. The symbiotic relationship between wind and solar energy, along with the growing role of energy storage systems like Battery Energy Storage Systems (BESS), is crucial. Each renewable technology has its strengths. Combining them into an integrated system is essential for achieving a fossil- and nuclear-free energy supply.
Looking Ahead
Iva's story highlights the need for a holistic approach to the energy transition. Her experiences emphasize:
- The critical role of the energy sector in society.
- The value of collaboration between business and technical experts.
- The necessity of scaling up clean energy production.
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