2026 Sohn Monaco – Lekander Doubles Down on Solar with 100-350% Upside Call

Speaking at the 2026 Sohn Monaco Conference, Pr Lekander, Partner, Portfolio Manager, and CEO of Clean Energy Transition LLP, opened by noting that his solar recommendation from the prior Sohn Monaco event is up roughly 60% since last year, and then argued that this is precisely the wrong reason to walk away. The thesis, in his view, is stronger than it was twelve months ago. On conservative modelling, he sees a further 100% to 350% upside over the next three years, with a blue-sky scenario that could add another five to ten times beyond that.

Lekander brings more than thirty years of energy sector experience to this call. He founded Clean Energy Transition LLP, which manages approximately $3.4 billion across a flagship long/short hedge fund and two long-only vehicles, after a career that included leading Global Utilities Research at UBS, a stint as Senior Expert Consultant at McKinsey, and a partnership at Lansdowne Partners. He holds a PhD in Economics from Chalmers University of Technology.

The Only Non-Chinese Solar Manufacturer That Matters

The structural starting point for Lekander’s pitch is a market dominated almost entirely by China. Globally, Chinese companies manufacture 74% of solar cells directly, and an additional 24% comes from Chinese-owned facilities in countries such as Malaysia and the Philippines. That leaves just 1% to 2% for genuinely non-Chinese producers.