FIS has reorganized and Irina Reitgruber now has global responsibility for energy which resides within the Treasury/Risk area of the business, she told me. Many different business units were merged during this process, she told me. Meanwhile, she also sees an active market for solutions. “The US market was already quite active last year,” she told me. “That is continuing this year and we now also see activity elsewhere like within Europe.” FIS is receiving new RFI’s and RFP’s regularly from these regions and expects to close some new deals soon. Kiodex also continues to do very well, I was told.
Irina expects that decarbonization will continue to help drive demand. She points to the sanctions against Russia taking its oil and gas off the market in the west and sees that driving a doubling down on renewables and alternative energy sources. However, coal mining countries are slowing down their possible exit from coal production, which will likely have an opposite effect on decarbonization, she said. She also expects Russia to find new markets in Asia in the long run – China and India – which may also drive some demand in those regions
One key focus for FIS remains North American power. “FIS has a base of natural gas customers,” she told me. In fact, FIS may have the dominant market share in North American gas and is interested in building on that base into electric power. Additionally, FIS has expertise in areas like managing PPA’s, batteries and so on in Europe that it can bring to bear in North America, she told me. “We have several large PPA’s in production with Aligne,” she said. “We can offer this expertise in North America.”
FIS continues to promote Adaptiv, its risk product and is also seeking to add expertise to its implementation teams in the both Europe and the US, she told me.