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Advancing the energy transition

KPMG LLP Capital Advisory

At KPMG LLP, we have been assisting our clients’ increasing investment activity in the energy industry's transition towards cleaner forms of energy production and a more resilient grid. Energy companies are shifting their strategic priorities in response to the growing demand for electricity, climate-driven threats to infrastructure, and the focus on energy security and decarbonization goals. To further these imperatives, we are helping our clients navigate the energy transition through strategy development, capital raising, project delivery, and transformation of operations.

How we help our clients

KPMG is helping clients on both the supply and demand sides to navigate the energy transition by developing strategies, raising capital, delivering projects, and transforming infrastructure operations.

Global market trends

Global market trends are showing increased investment activity in the energy industry’s transition towards more sustainable and cleaner energy sources, a more diverse and secure energy supply, and a more resilient grid. These trends are driven by a combination of geopolitical forces, decarbonization considerations, climate threats, and regulatory initiatives.

  • Growing demand for electricity and renewable generation
    Grid planners have nearly doubled forecasts of electricity demand growth over the next five years, with renewable generation expected to increase from 22% of all power generation in 2022 to 34% in 2028.1,2
  • Increasing focus on energy security
    Diversity of energy sources reduces dependence on foreign sources, mitigates geopolitical risks, and addresses long-term environmental concerns. Currently, oil and gas provide 55% of world energy, compared with 7% for renewable sources.3
  • Increasing climate driven threats to infrastructure 
    87% of U.S. utilities are exposed to heat stress and 22% are exposed to floods, both of which are likely to worsen over the next 10 to 20 years driving investments in resiliency.4
  • Growing pressure to decarbonize from shareholders and regulators
    In 2023, the US government announced $1.7B in financing of carbon capture project development and demonstration projects.5

Anticipated annual global investment in energy to meet net zero emissions goals will peak by 2030 requiring almost $5 trillion per year.6

Energy companies are expanding their strategic imperatives to include the following investments

1

Renewable generation assets and fuels and low carbon technologies

  • Acquiring and/or developing renewable generation assets (e.g., solar, on-shore wind, off-shore wind)
  • Evaluating and developing low carbon fuels (e.g., hydrogen, biofuels, ammonia)
  • Analyzing and implementing carbon capture and sequestration technologies

2

Grid management strategies and evaluating new energy storage technologies

  • Developing storage assets (e.g., utility scale and long duration storage)
  • Developing virtual power plants (VPPs), distributed energy resource management systems (DERMS), and optimizing load management systems and strategies
  • Evaluating new technologies (e.g., utility scale energy platforms, green/smart buildings)

Select client stories

KPMG is advising clients on both the supply and demand sides of the energy sector, from generation and transmission developers to corporate energy off-takers. We are helping clients analyze and execute investments in carbon capture technologies and low carbon fuels, virtual power plant deployment, clean energy tax credits, and clean energy federal financing. Below are select examples of client projects.

  • Carbon capture financial feasibility
         Advised a regulated utility on business models to explore carbon capture and storage technologies, as well as hydrogen and ammonia production at one of its power plants. KPMG completed a market assessment and project financial model.
  • VPP deployment plan and DOE loan
         Advised a DERMS company on financing from the DOE’s 1703 Innovative Clean Energy loan guarantee program further the deployment of its VPPs across the U.S. KPMG supported the application drafting and DERs deployment plan.
  • TAX credit sales 
         KPMG advised a global EV battery manufacturer on the sale of tax credits. KPMG completed a market analysis of potential buyers of tax credits, organized and managed the sale process and supported in negotiations.
  • Federal financing for pipeline modernization
         KPMG was engaged by a regulated utility seeking financing through the DOE’s 1706 Energy Infrastructure Reinvestment loan guarantee program to fund upgrades to natural gas transmission infrastructure. KPMG is managing the application drafting process, coordinating among key stakeholders, and developing a narrative to support the viability of the project.

Footnotes

  1. “State of the US Clean Energy Transition: Recent Progress, and What Comes Next,” WRI.org, February 2024
  2. Renewable Energy Progress Tracker IEA.org, January 2024
  3. “The return of energy security,” S&P Global, February 2024
  4. “US regulated electric utilities face varied exposure to climate,” Moodys, January 2020
  5. “Biden-Harris Administration Finalizes Suite of Standards to Reduce Pollution from Fossil Fuel-Fired Power Plants,” EPA.gov, April 2024
  6. “Net Zero by 2050 - A Roadmap for the Global Energy Sector,” pg. 82, IEA.org, October 2021

Meet the team

We have a team of subject matter professionals that focus on the key cornerstones of the energy transition

Image of George Spakouris
George Spakouris
Principal, Advisory, Infrastructure, KPMG US
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Image of George Ward
George Ward
Principal, Advisory, Infrastructure & Projects Adv, KPMG US
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Image of Nathan Gabig
Nathan Gabig
Principal, Advisory, Capital Solutions, KPMG US
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Image of Frederick Morris
Frederick Morris
Managing Director, Infrastructure, Capital Projects, and Climate Advisory, KPMG US
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Image of George Spakouris
George Spakouris
Principal, Advisory, Infrastructure, KPMG US
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Image of George Ward
George Ward
Principal, Advisory, Infrastructure & Projects Adv, KPMG US
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Image of Nathan Gabig
Nathan Gabig
Principal, Advisory, Capital Solutions, KPMG US
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Image of Frederick Morris
Frederick Morris
Managing Director, Infrastructure, Capital Projects, and Climate Advisory, KPMG US
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