The Closest I’ve Ever Been to Changing the World (8) — A Supergrid Underground Globally? Continuing from the last post, I told him I found it strange that in the infrastructure industry, the returns I’ve seen are only around 6%–9%, which feels too flat. If the opportunity is so big, why are traditional returns so low, yet so much capital is still pouring in? He said, “The 6%–9% you’re talking about refers to traditional infrastructure projects like wind or solar — unlevered returns are usually around 7%–9%, very stable but indeed not high. If you add leverage, it can reach... Continue reading