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The power sector has emerged as a cornerstone of global economic development in recent years, driving significant advancements in energy transition and sustainability.

This shift has generated unprecedented levels of investment capital. According to the International Energy Agency (IEA), global energy investment is set to surpass £2.4 trillion for the first time in 2024, with £1.6 trillion allocated to clean energy technologies and infrastructure. The United States alone is expected to invest £240 billion in clean energy, marking a remarkable 60% increase compared to 2020.

PEI Global Partners ("PEI") is at the forefront of this transformation. This boutique investment bank has swiftly established its presence in the energy sector by advising on transactions that direct these new capital sources toward sustainability initiatives. Founded in late 2021 by four seasoned partners alongside a team of junior bankers, PEI has positioned itself as a comprehensive advisory firm.

'The extensive experience of the partners across various advisory functions within the power and energy sectors has been vital for the firm in winning key mandates,' says Angad Dhamija, one of the co-founding junior members of the firm.

From day one, PEI has served as a one-stop advisory shop for all stakeholders in the power and energy sectors, offering a range of product solutions, including M&A, corporate and project finance, as well as structured capital raise solutions for renewable developers and Independent Power Producers ("IPPs"). This diverse service portfolio enables PEI to address the full spectrum of needs within the energy transition.

PEI's agility is another key factor contributing to its success. As a management-owned firm, its ability to swiftly shift focus has allowed the firm to remain aligned with the evolving needs of the industry. A prominent example of this agility is establishing a market for corporate-level debt facilities.

Unlike traditional project finance facilities that are usually confined to a single or a small set of projects, corporate finance facilities are structured at the corporate level to support various capital needs of owners of power projects spanning their entire portfolios. Recognising the evolving requirements of renewable project developers, PEI led the first wave of such financings two years ago by advising Hecate Energy ("Hecate"), one of the nation's leading renewable asset developers, in raising $550 million as part of a corporate financing package.

This execution earned PEI the IJGlobal 'ESG Finance Innovation – North America' award in 2023. Since Hecate's facility, such financings have become mainstream in the renewables industry, with PEI leading the market, having advised on over $2 billion in similar facilities within the past two years.

Another core competency of PEI is its in-house market analytics team, which thoroughly evaluates market trends. This team employs a data-driven approach to analyse factors influencing the energy sector, including regulatory changes, technological advancements and economic indicators. These analyses provide a comprehensive overview of current trends and offer predictive insights that help investors anticipate future developments.

This blend of comprehensive services, agility and analytical depth has solidified PEI's reputation as a trusted advisor in the power sector. Despite being in operation for only three years, PEI has become one of the most active financial advisors in the industry. In addition to the ESG Finance Innovation Award, the firm also received IJGlobal's 'Newcomer of the Year in North America' award in 2023, recognising the bank's success and ability to close significant deals within a short time frame, marking a notable achievement for the founders.

In 2024, the team maintained their strong advisory track record, receiving IJGlobal's "Power and Transmission Acquisition of the Year (North America)" award in recognition of their work on selling a large-scale natural gas portfolio. Mr. Dhamija played a key role as a core member of the deal team for this transaction.

PEI has prioritised strategic growth and expanded its capabilities and coverage to maintain its competitive edge. 'Our focus has been on building a team with deep expertise across various subdomains and repeating that strategy across multiple geographies,' notes Mr. Dhamija, highlighting the firm's commitment to attracting senior talent to lead emerging areas within the energy and infrastructure sectors. This commitment is exemplified by establishing a new office in Hong Kong, expanding PEI's reach into the APAC region.

Additionally, building on its strong foundation in the energy sector, the firm is exploring new avenues where its advisory skills can be effectively applied. PEI has already made strides in this direction, marked by its recent work on a project finance facility for VAC, a portfolio company of Ara Partners, supporting the construction of a first-of-its-kind manufacturing facility for permanent magnets in the U.S. showcasing its foray into the infrastructure space.