Aleksander Karlsen ’12Journal 1
This summer, I am working for Quantitative Alternatives in New York City. The company is a Renewable Energy Venture founded by Bruce Usher, Executive in Residence and co-director at the Social Enterprise Program at Columbia Business School, and by William O'Farrell, a business man behind several successful ventures.
I spent the first two weeks of the internship searching for data on renewable energy projects in Europe, and spoke with numerous energy agencies and industry players in nations such as Germany, the United Kingdom, Portugal, and Spain, as well as reading through quantitative and qualitative reports. It became evident that the level of detail of publically available information was limited in Europe, and therefore I focused on retrieving and analyzing data for other regions globally such as China.
I have learned a lot about the global wind sector in a short matter of time. At times, the work has been a bit frustrating since the type of data we are looking for is not easily accessible in Europe. On the other hand, we have found data for several other regions, which is good news.
I regularly meet with the founders of the venture to discuss our progress and plan how to go forward. In the coming weeks we will interpret and analyze the operational and financial data for international renewable energy projects. We will also discuss potential business models for the venture. The goal is to systematize and analyze the data, and to come up with business models for a profitable endeavor.
Journal 2
I have applied my numerical and analytical skills thus far in the internship as well as my knowledge of energy markets and the renewable energy sector. I have also found reliable data on international renewable projects which could be utilized for analytical purposes.
I have made a lot of traction in terms of interpreting and analyzing operational and financial data for international wind projects. I have also spent time discussing potential business models. The coming weeks will be utilized to focus on the solar sector, as well as on other potential business models.
The internship has enabled me to learn a lot about an interesting sector, work with highly competent individuals, and work for a venture which could have a positive social impact.
Journal 3
I spent this summer trying to figure out how to successfully launch a profitable renewable energy venture in an economy characterized by short-term uncertainty.
It was interesting to work for and collaborate with such experienced professionals as Bruce and William. It was also demanding to come up with business models given the short-term uncertainty facing the renewable energy sector. I found it particularly interesting to discuss how to benefit from a high conviction, long-term trend while mitigating the short-term downside risk.
I have had an interest in how energy markets function for a long time. I find the dynamics behind the supply and demand for fossil versus renewable energy sources particularly interesting. A structural change from fossil energy sources to renewable energy sources is a high conviction thesis.
I learned a great deal about the operational and financial performance of the global wind sector, both in terms of overall industry performance as well as relative performance between nations and locations.
The most engaging part of my work was interacting with the entrepreneurs, Bruce Usher and William Farrell, and discussing the outlook for the renewable energy sector and possible business models for the venture. I am confident that strong opportunities exist within the sector, albeit short-term volatility can be present. My perception is that with a shift from fossil to renewable energy sources, the long-term trend is clear, but the short-term is less clear, especially in the Western world due to the likelihood of reduced government spending. In the end it will likely be the market forces of supply and demand coupled with capital investments that drive the shift in the energy markets, rather than government intervention.
This internship enabled me to quickly gain deep insight into the global renewable energy sector, as well as how to think as an entrepreneur. To collaborate with an experienced professional and former top executive within the renewable sector such as Bruce, and with an entrepreneur with an impressive track record, such as William, was the highlight of my summer
