Full-service Energy Transition support
We deliver end-to-end solutions across the transition lifecycle – connecting capital, insights, and execution.
Global Investment Banking
An innovative, trusted partner to clients for the long-term.
Solutions
- M&A and debt advisory
- Strategic equity solutions across public and private markets
- Project and infrastructure finance
- Sector specialists across clean power, clean fuels, manufacturing, services, climate tech and more
Corporate Banking
Supporting the Energy Transition with tailored lending, innovative credit structuring, and relationship-led execution across sectors and regions.
Solutions
- Balance sheet lending across conventional and low-carbon energy assets
- Bespoke credit structuring for energy transition projects
- Coordination with Equity Capital Markets, Debt Capital Markets, and Project Finance
- Support for carbon streaming agreements and capital recycling strategies
- Strategic advisory for sustainability-linked loans and other credit solutions
Sustainable Finance
Structured capital solutions aligned to sustainability objectives, regulatory standards, and investor expectations.
Solutions
- Green, sustainability-linked and transition finance instruments
- ESG integration in corporate strategy and investment analysis
- Disclosure and reporting advisory
- ESG due diligence for M&A and private equity
- Carbon markets and renewable energy procurement solutions
Global Markets
Carbon, trading, and risk solutions – structuring credit, derivatives, and hedging strategies for energy, fuels, and renewables.
Solutions
- Carbon emissions trading
- Structured hedging and derivatives
- Power and fuel pricing strategies
- Aftermarket performance optimization
- Carbon markets and renewable energy procurement solutions
Global Research
Market intelligence across priority transition markets, assessing capital flows, policy risk, and investor sentiment with precision.
Solutions
- Energy transition capital flows
- Investor sentiment and policy impact
- Sector insights: energy, PU&I, technology
- Emerging tech and energy economics
- Supply chain and infrastructure analysis
Global Investment Banking
An innovative, trusted partner to clients for the long-term.
Solutions
- M&A and debt advisory
- Strategic equity solutions across public and private markets
- Project and infrastructure finance
- Sector specialists across clean power, clean fuels, manufacturing, services, climate tech and more
Corporate Banking
Supporting the Energy Transition with tailored lending, innovative credit structuring, and relationship-led execution across sectors and regions.
Solutions
- Balance sheet lending across conventional and low-carbon energy assets
- Bespoke credit structuring for energy transition projects
- Coordination with Equity Capital Markets, Debt Capital Markets, and Project Finance
- Support for carbon streaming agreements and capital recycling strategies
- Strategic advisory for sustainability-linked loans and other credit solutions
Sustainable Finance
Structured capital solutions aligned to sustainability objectives, regulatory standards, and investor expectations.
Solutions
- Green, sustainability-linked and transition finance instruments
- ESG integration in corporate strategy and investment analysis
- Disclosure and reporting advisory
- ESG due diligence for M&A and private equity
- Carbon markets and renewable energy procurement solutions
Global Markets
Carbon, trading, and risk solutions – structuring credit, derivatives, and hedging strategies for energy, fuels, and renewables.
Solutions
- Carbon emissions trading
- Structured hedging and derivatives
- Power and fuel pricing strategies
- Aftermarket performance optimization
- Carbon markets and renewable energy procurement solutions
Global Research
Market intelligence across priority transition markets, assessing capital flows, policy risk, and investor sentiment with precision.
Solutions
- Energy transition capital flows
- Investor sentiment and policy impact
- Sector insights: energy, PU&I, technology
- Emerging tech and energy economics
- Supply chain and infrastructure analysis
Specialist coverage across the Energy Transition spectrum
Our solutions are built on deep industry expertise across the technologies and sectors.
Select deals and client execution
£1,400,000,000
Cash offer for 100% of SMS
Financial Advisor to SMS
£963,000,000
Sale of the Norfolk Offshare Wind Zone
Financial Advisor to Vattenfall
US $6.8 billion
Sale of Energy Harbor to Vistra
Financial Advisor
US $300,000,000
Sell Side for world's largest SAF facility
Financial Advisor
Transition in action
Energy Transition insights
Powering Sustainable Ideas
Meet the leaders and companies powering the sustainable future.
Energy Transition leadership
The strength of our Energy Transition platform lies in our specialists.
Ralph Ibendahl
Global Head of Energy Transition, RBC Capital Markets

Sarah Thompson
Global Head of Sustainable Finance, RBC Capital Markets

Biraj Borkhataria
Global Head of Energy Transition Research, RBC Capital Markets

Anthony Ianno
Global Co-Head and Vice Chair, PU&I Investment Banking, RBC Capital Markets

Ed Golder
Global Co-Head, PU&I Investment Banking, RBC Capital Markets

Scott Richardson
Global Head, Energy Investment Banking, RBC Capital Markets

Jonathan Sisto
Managing Director, Energy Transition Investment Banking, RBC Capital Markets

Rob Nicholson
Head of Canadian PU&I Investment Banking, RBC Capital Markets

Darrell Law
Managing Director, Energy Investment Banking, RBC Capital Markets

Ken Martin
Managing Director, Technology Investment Banking, RBC Capital Markets

Antony Steinberg
Head of Australia PU&I Investment Banking, RBC Capital Markets

Ralph Ibendahl is the Head, EMEA Energy Transition.
As part of the Sustainable Finance Group, Sarah works closely with the growing number of corporate and institutional clients globally who view Environmental, Social and Governance (ESG) factors as important considerations in their corporate strategy and investment decision-making process.
Sarah joined RBC in 2011 as the bank’s first Green IT Manager. In 2013, she moved to RBC’s Corporate Sustainability Team to oversee enterprise-wide operational footprint reduction initiatives, produce ESG disclosure and support business units with the development of sustainable financial products and services. In addition, Sarah partnered with RBC’s Corporate Treasury Group to establish RBC’s Green Bond Program. The bank issued its inaugural Green Bond in April 2019 following the publication of its Green Bond Framework outlining the process for Green Bond issuance and reporting.
Sarah represents RBC Capital Markets on the Advisory Council of the Green and Social Bond Principles Executive Committee and is Vice Chair of the CSA Group Green & Transition Finance Technical Committee.
Sarah is based in Toronto, Canada. She holds a Bachelor of Commerce in Economics from McGill University and an MBA in Sustainability from York University’s Schulich School of Business.
Biraj joined our energy research team in 2013 and covers the large cap integrated energy companies. In the latest II Survey he ranked as the #7 analyst in the sector, and was the highest ranked analyst outside of the US. He is also RBC’s Deputy Head of European Research and helps support the wider management team. Prior to joining RBC Capital Markets, Biraj covered the metals &mining sector. Biraj studied mathematics with economics at University College London and is a CFA charterholder.
Anthony Ianno is the Global Co-Head, Power, Utilities and Infrastructure
Ed Golder is the Head, Utilities & Renewables in Europe
Scott Richardson is the Global Head, Energy Investment Banking.
Jonathan Sisto is the Managing Director, Energy Transition Investment Banking
Robert Nicholson is a Managing Director and Canadian Head of the Power, Utilities and Infrastructure Group at RBC Capital Markets. He is responsible for providing solutions for Corporate clients’ capital raising needs. This can include both public and private equity, investment and non-investment grade debt and either in the public or private markets. He also provides strategic advice to his utility, power generation and clean technology clients having advised on over $30 billion of company sales and acquisitions. Rob has been based in both the US and Canada in his 30 year banking career with the last 20 years at RBC in Canada. Robert holds an MBA from the University of California, Berkeley and B.A.Sc. (Civil Engineering) from the University of Waterloo.
Darrell Law is a Managing Director in the Calgary Energy team at RBC Capital Markets. Darrell joined RBC Capital Markets in 2000 and has worked in a variety of roles in the investment banking group over the past 25 years including the Toronto corporate finance group (3 years) and the real estate investment banking group (3 years). He joined the Calgary Energy team in 2006 and has been focused on coverage of upstream oil and gas producers and financial sponsors since joining. Many of his clients including ARC Resources, Tourmaline Oil, NuVista Energy and Whitecap Resources are active today in the Montney play. Over the course of his career he has worked on over 100 transactions representing over $30bn of equity financing, debt financings and M&A transactions. Notable transactions include the IPO of Seven Generations Energy in 2014, numerous follow-on equity financings for NuVista Energy and the merger of ARC Resources and Seven Generations Energy in 2021. Darrell graduated from the University of Victoria with a Bachelor of Commerce degree (honours) in 1998. He was awarded the CFA designation in 2001 and is a member of the Association for Investment Management and Research.
Ken Martin is a Managing Director at Royal Bank of Canada (RBC) with 15+ years of investment banking experience, specializing in Internet, Vertical Software, and Climate Tech. Prior to joining RBC in 2018, Ken spent some time in Strategic Finance at Uber. Before that, Ken spent 5 years at Barclays in the Global Technology, Media and Telecommunications Group in investment banking. Ken holds a BSc from Georgetown, an MSc from London School of Economics, and an MBA from Tuck School of Business at Dartmouth.
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