Energy Transition Blog

Research evidence excerpt

Energy Transition Blog

June 17, 2026 Energy Transition Blog

Generation Assets Require a Down Payment, Court UpholdsENERGY Government Funding for US Energy Transition Projects, and Germany's Gregory Lewis, CFA

Alternative Fuel Strategy Inches Closer to Reality (212) 588-6543 glewis@btig.com

Sherif Elmaghrabi

WHAT YOU SHOULD KNOW: (332) 400-5177 selmaghrabi@btig.com

■ Paying to Get in Line for Turbines. Siemens Energy (SMERY, Not Rated) noted that Ben Sommers

customers seeking secure reservations for slots in the natural gas turbine queue are (212) 738-6049 bsommers@btig.com

paying 10%-15% upfront for equipment that can take years to be completed. WeTRANSITION note this has been more common in the US over the last few years as hyperscalers

and other data center developers paid to move ahead in the delivery queue as the

global natural gas turbine backlog stretches into the next decade. Siemens' own

backlog currently stands at EUR ~124B, half of which will be delivered in 2028 and

beyond. Interestingly, despite the ongoing data center boom, the company noted

data centers only account for ~25% of their demand with the bulk coming fromINDUSTRY conventional power providers (think utilities).

■ Going Back and Forth on Clean Energy. Eleven clean energy grants that were

canceled by the current administration look to be coming back, as last week a

federal judge vacated the cancellations. The resumption of funding will unlock ~REPORT

$82M across the 11 projects, with the grantees located in New York, Connecticut,

Minnesota, Oregon and Colorado. We note that the projects expanded beyond

those states, with some of the awards expected to be allocated toward projects

in Texas, Oklahoma, California, Illinois, Hawaii and Puerto Rico. The court order