Advisory Team

Valentina Ivan 
Energy Policy Director

Valentina Ivan is the Energy Investment Policy Director responsible for energy policy analysis, government relations and stakeholder engagement in the power markets across EnerCap’s target markets. Valentina is engaged in the entire investment cycle of an energy project and assesses the market conditions, and the legislative changes that could impact company’s investments. Valentina works with decision-makers and other key project participants with the aim to forge professional working partnerships with all stakeholders.

Previously, Valentina participated in cross-border projects providing strategic advice to C-level executive management concerning political, regulatory and reputational risk to their operations. Valentina has monitored and assessed various regulatory and market models in power sector in CEE. She has advised key think tanks, environmental organisations, public bodies (including DG Energy, national ministries and regulators) on energy policy. Valentina writes academic articles, editorials and publicly speaks (conferences, radio and TV interviews) on energy issues.

She holds a PhD in Economics – Management of Energy Policies and an MSc in Comparative Public Policy, University of Edinburgh.

Martin Bebiak 
Investment Manager

Martin is responsible for the analysis and evaluation of projects and business opportunities in the power markets across the EU. He prepares valuations and financial models of new build power plant projects including wind and PV across different capital structures. He has particular expertise in creating and utilising bespoke models for CHP projects with variable heat demands and capability to serve complex power balancing markets.

Martin also monitors market developments and legislation on the national and EU level and analyses the impact of these on upcoming projects.

Previously, Martin was an analyst at Candole Partners focusing on European power generation and trading markets. He was a key team member in projects advising Europe’s major utilities across Central and Eastern Europe on strategy, regulation and market development.

Martin is the author of numerous reports on European power markets, carried for example by Thomson Reuters and S&P Capital IQ.