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Severin Hiller

Partner, Co-Head of Credit

Qualitas Energy

Severin Hiller joined Qualitas Energy in 2024 to co-lead the launch of a ground-breaking energy transition credit product, serving as Partner and Co-Head of Credit. He brings over two decades of infrastructure experience, having worked across the United Kingdom, France, Spain, and the United States.

Prior to joining Qualitas Energy, from 2014 to 2023, he was Partner and Co-Head of Infrastructure Debt at Rivage Investment in Paris. Before his tenure at Rivage, he served as Investment Director at Hadrian’s Wall Capital and played a key role in developing the global infrastructure advisory business at Campbell Lutyens. Earlier in his career, he held the position of Vice President at MBIA UK Insurance Ltd.

Severin holds a bachelor’s degree in Mechanical Engineering from Tufts University and an MBA from the London Business School.

Keynote Panel

In 2025 we saw negative prices, curtailment, manufacturing risk, and policy instability which all made underwriting harder across the full capital stack. This session examines how debt providers, equity investors, and hybrid capital structures are adapting and what projects must now demonstrate to get financed.

  • What has changed in credit modelling: capture rates, P90 assumptions, and grid risk?
  • How the debt-equity split is shifting as lenders tighten and sponsors absorb more first-loss risk
  • Which revenue structures (tolls, CfDs, floors, hybrid stacks) are moving transactions and which are stalling them?
  • Storage: how co-location changes bankability and credit metrics
  • Where institutional capital is concentrating and what it has stopped backing