Neil Griffiths-Lambeth is an Associate Managing Director in Moody’s Infrastructure Finance team, based in London, and responsible for the rating agency’s coverage of regulated and unregulated utilities across EMEA. Over the course of his career at Moody’s, Neil has acted as lead analyst for a broad range of utilities and transport infrastructure companies. He has followed the UK water sector since 2008, writing extensively on regulatory and other developments and playing a key role in developing the rating agency’s strong reputation in the sector. As an authoritative independent commentator, Neil is a frequent speaker at conferences and other events. Moody’s has a leading global Infrastructure Finance franchise, rating some US$2 trillion of corporate and project finance securities, representing more than 90% of all public bonds issued globally in the sector. 140 analytical sector staff cover more than 1,000 infrastructure issuers globally. Moody’s EMEA team of 50 specialists is responsible for rating around 416 issuers. The rating agency covers more than 11,000 corporate issuers and 135 sovereign nations. Prior to joining Moody’s in 2007, Neil spent 15 years at Lazard. Over this period he advised a broad range of clients on raising finance in the public and private markets. Notable transactions included advising the UK Government on support and funding for Network Rail, Veolia on the acquisition and highly-leveraged financing of Southern Water, and Wind Telecommunicazioni on funding for its network roll-out. Neil read Mathematics at the University of Sussex and pursued postgraduate research at Imperial College, London.

Vijay joined Apollo in 2025 in Credit and is responsible for High Grade Capital Solutions in Europe. Prior to that time, Vijay was most recently a Managing Director in the Structured Finance and Lending Group at Goldman Sachs, where he held numerous roles in trading, structuring and origination between November 2009 and May 2025. Prior to that, he was an EM Structured Credit Trader in the Fixed Income Group at Merrill Lynch from August 2006 to October 2009 and a Credit Trader at Deutsche Bank from August 2004 to July 2006. 

Vijay holds an MBA (2004) from the Indian Institute of Management Bangalore.

Karsten Bourwieg is a lawyer. He began his career in the energy industry as a lawyer and legal counsel at Trianel Energie, a energy trading and procurement company for municipal utilities. With the advent of energy regulation at the end of 2005, he became head of the Energy Law Division of the Federal Network Agency in Bonn. Since June 2017, he has chaired Ruling Chamber 8, which primarily decides on revenue caps for electricity grid operators and examines the costs of power plant reserves in Germany.

He is a member of the Grand Ruling Chamber for Energy at the Federal Network Agency, which, following the General Court ruling on the independence of regulatory authorities, has been developing the successor regulations to the Incentive Regulation Ordinance and the Electricity Grid Fee Ordinance since 2024.

He is co-editor of a commentary on the Energy Industry Act (EnWG) (Bourwieg/Hellermann/Hermes).

Céline Chérubin is a senior credit officer in the EMEA Infrastructure Finance Group, based in Paris. She has responsibility for a portfolio of unregulated utilities in France, Belgium, Italy and the Czech Republic as well as water and waste management companies in France.

Céline has considerable experience of assessing utilities and infrastructure in Europe, with an in-depth knowledge of business models, strategies and stakeholders. She has a particular focus on the French market but also benefits from experience of a broad range of other jurisdictions.

Moody’s has a leading global Infrastructure Finance franchise, rating some US$2.8trillion of corporate and project finance securities. Our team of 148 analytical staff covers more than 2,700 public and private sector infrastructure issuers globally. Moody’s EMEA team of 48 infrastructure specialists is responsible for rating around 330 issuers with approximately US$756 billion in debt outstanding. Moody’s Investors Service covers a total of more than 35,000 issuers and structured finance transactions worldwide, representing more than US$73 trillion in rated debt.

Before joining Moody’s in April 2019, Céline worked for Infravia, a French infrastructure investment company, where she was responsible for investor relations and the fundraising of the fourth infrastructure fund. Prior to this, she had an extended career as a sell side equity analyst covering European utilities for more than 12 years. She has also taught classes in accounting, P&L diagnostics and cashflow analysis for the Société Française des Analystes Financiers.

Céline holds a degree in business administration (DESCAFF) from the Bordeaux Business School. She is fluent in English and French.

Joanna Fic is a Senior Vice President in Moody’s EMEA Infrastructure Finance team, based in London. She is currently responsible for a portfolio of utilities and transport infrastructure companies in the United Kingdom and Africa, in addition to certain transport infrastructure companies in Norway and Turkey. With extensive credit experience across both the utility and infrastructure sectors, Joanna has a deep understanding of both conventional and complex structured financing arrangements.

Over the course of her career at Moody’s, Joanna has written extensively on transport infrastructure credit, covering airports, ports and toll roads. She has contributed to the development of a number of transport infrastructure methodologies and was the author of Moody’s Rating Methodology for Privately Managed Toll Roads, published in October 2017. Joanna has also published widely on European utilities, including in Germany, United Kingdom and Central and Eastern Europe. A highly regarded analyst and respected commentator, Joanna is a frequent speaker at conferences, investor roundtables and other events.

Prior to joining Moody’s in 2007, Joanna was a credit risk manager at Citigroup in Warsaw, where she was responsible for a diversified portfolio of corporates. Joanna holds a master’s degree in Finance and Banking from Warsaw School of Economics.

Rahul Ghosh is Managing Director – Global Head of Sustainable Finance for Moody's Ratings.

Rahul leads global oversight for the credit rating agency’s environmental, social and governance (ESG) research and outreach strategy. In this capacity, he is responsible for co-ordinating high quality and impactful research exploring the credit implications of ESG, as well as digital and in-person outreach to meet the growing market needs of investors, issuers and other important stakeholders.

Rahul is a regular participant at high-profile industry working groups, market briefings, external conferences and media engagements. He is a member of the Taskforce on Nature-related Financial Disclosures, a market-led initiative to develop a risk management and disclosure framework for nature-related risks. He has also represented Moody’s on the UN Principles for Responsible Investment's advisory committee on credit ratings and the Green and Social Bond Principles working groups. He has presented on the impact of climate change on emerging market sovereigns at the G20 Green Finance Study Group and on sustainable finance trends at the International Finance Corporation’s Global Debt Mobilization Conference.

Before his current role, Rahul oversaw Moody’s ESG Solutions Group outreach and engagement activities globally with the sustainability stakeholder community. He also previously worked in Moody’s Credit Strategy & Research team where he was responsible for thematic research and outreach on global emerging market (EM) credit trends. Prior to joining Moody’s in 2013, Rahul was the Head of Asia at BMI Research (Fitch Solutions) in Singapore, leading a team of macroeconomists and industry specialists in analysing sovereign risk, sector performance and the capital markets.

Rahul is a passionate impact leader for Moody’s corporate social responsibility (CSR) initiatives in London, chairing the pillar on “activating an environmentally sustainable future”. He holds a Masters degree in Economics from the University of Edinburgh and a Certificate in ESG Investing from the CFA Society of the UK.

Richard is Aurora’s Global Research Director and is responsible for managing and developing Aurora’s suite of market intelligence services across power markets, renewables, flexible and distributed energy, hydrogen and upstream energy markets. He leads a team of around 130 energy market analysts globally.

Before joining Aurora he was a Director and Head of Energy and Environment at Policy Exchange, where he authored a number of influential reports on energy and environmental policy and regulation. Prior to that he was the Chief Economist at The Crown Estate.

Richard has a first class degree in Economics and an MSc in Environmental Policy.

Phil is the Chief Executive of Northern Powergrid. He is a chartered electrical engineer and has been in the electricity distribution sector since 1993, and took up his current role in 2006.

He is currently Chair of the Energy Networks Association and is actively involved in policy development at a national level in the UK.
Phil has previously served as President of the Institute of Asset Management, and Chairman of the Yorkshire and Humber Regional Council of the Confederation of British Industry.

In 2007 he was awarded an OBE for his services to the energy industry.

Akshay Kaul joined Ofgem in 2017. He is the Director General for Infrastructure. His department leads on energy systems and network regulation for nuclear power, carbon capture and storage, hydrogen, long duration energy storage and interconnection, cybersecurity and artificial intelligence.

Before joining Ofgem, Akshay was on secondment from HM Treasury, where he worked for 5 years, to Transport for London. He had an early career in investment banking, financial services and project finance.

Viola Lutz is Head of Climate Center of Excellence at Moody’s. Viola helps drive climate positioning across Moody’s with the goal to firmly establish the company and our offerings as a global leader in integrated climate risk analytics. 

Prior to joining Moody’s, Viola was Executive Director, Head of Climate Solutions, at ISS ESG, the unit of Institutional Shareholder Services (ISS) that helps financial market participants to understand, measure, and act on climate-related risks and opportunities across all asset classes. Viola joined ISS in 2017, following its acquisition of the financial industry business of South Pole Group, where she was a member of the team that developed the world’s largest database of company-level climate change data and pioneered the development of leading, standardized investment climate screening tools. Viola was named to the Forbes 30 Under 30: European Finance list in 2020. She holds a Master of Public Affairs from Sciences Po Paris and a bachelor’s degree in Economics from the University of St. Gallen (HSG), Switzerland.

Viola is an avid improv theatre performer as well as a mountain sports and Yoga enthusiast.

Position
CFO – EDP - Energias de Portugal, S.A.
CFO – EDP Renováveis, S.A.

Academic Qualifications
Advanced Management Programme – Harvard Business School (2013)
MBA – Nova University, Lisbon (2001)
Naval Architecture and Marine Engineering Graduate – Instituto Superior Técnico, Lisbon (1995)

Other Positions and Experience
Member of Board of Directors – EDP Renováveis, S.A. (current)
Vice Chairman of Executive Board of Directors – Ocean Winds (current)
Member of Board of Directors – EDP - Energias do Brasil, S.A (current)
Member of Board of Directors – EDP España (current)
Member of Executive Board of Directors – EDP (since 2015)
CEO – EDP España S.A.U. (2018-2021)
CEO – EDP - Gestão da Produção de Energia, S.A. (2015-2020)
Member of Board of Directors – EDP Renováveis, S.A. (2008-2015)
Head of Corporate Planning and Control – EDP (2004-2007)
Consultant – McKinsey & Company (2001-2004)
Ship Surveyor – Det Norske Veritas (1997-2001)
Commercial – Gellweiler – Sociedade de Equipamentos Marítimos e Industriais, Lda. (1996-1997)