Area of conviction
Energy transition.
The long shift in how the world produces, stores and uses energy.
Energy Transition
The move to cleaner energy is one of the largest capital reallocations of our time.
The Chairman looks for businesses that benefit from this shift over many years: in generation, in the equipment and services behind it, and in the infrastructure that connects it.
As always, the test is the business itself: cash flows, competitive position and the quality of management.
Themes
What we watch.
I
Renewable generation
Solar, wind and the companies that build them.
II
Equipment & services
The supply chain behind the transition.
III
Grid & storage
The infrastructure that makes it work.