Greensolver, the independent wind and solar farm asset manager, has launched Greensolver Index, its asset management performance benchmarking tool for the UK and Irish wind and solar energy markets.
Traditionally, funds, utilities and independent power producers have had to rely on isolated project portfolio performance information to analyse energy generating asset performance.
The new index enables asset managers and investors to move beyond these points of reference and ultimately make better-informed future investment and asset management decisions.
As wind and solar projects become of increasing interest to clean energy investors and the secondaries market, there is a growing demand from owners and investors to be able to contextualise and better understand the real-time performance of their assets. Coupled with increasing demands for the transparency, a system that provides investors with continuous performance data ensures that the process of investor relations is much simpler, while ensuring that clean energy assets can be managed as efficiently and easily as traditional investment classes
“As the number of investors in UK and Irish clean energy escalates, it’s imperative that new and prospective owner-operators have access to asset management tools and services that they’ve already come to expect in other energy asset classes,” says Guy Auger, chief executive officer, Greensolver. “Today’s launch of Greensolver Index ensures that a new generation of clean energy investors can feel confident in their investments, knowing how their assets and, critically, service providers are performing versus other equivalents in the same region, nationally or further afield. The tool can provide confident not only in the specific asset but in the asset class to the widest off stakeholders including shareholders.”
Moreover, since IS0 55000, the global asset management standard, requires investors to look for continuous improvements in asset performance, the ability to be able to benchmark assets against the, market, as opposed to same ownership operating portfolios, remains of significant importance in order to remain compliant.
“For the asset manager, the index launch is important since not only does it assist with ISO55000 compliance, it also provides a new tool in the armoury required to identify improved asset performance. Yet we have been thorough in the design of Greensolver Index to ensure the input data requires minimal human interface and is full anonymised. The highest reward potential for the least impact,” says Stephen Bolton, UK managing director, Greensolver. “As new projects and technologies are developed the Greensolver Index provides a completely new set of data at decision makers fingertips to assist in site selection, turbine and / or service provider selection, amongst other factors. Rather than basing decisions on in house assets, a true industry benchmark can be observed allowing a much more informed judgment to be made.”
As part of the Greensolver Index, investors and owners can continually monitor the performance of their portfolios in relation to other projects on a completely anonymized basis. This includes developing an enhanced understanding of how long on average turbines have to be taken offline to be repaired, as well as market-wide information associated with failure rates and downtime analysis.
Ahead of the UK and Ireland launch, the Greensolver Index has already been extensively used within continental Europe as part of the wider work undertaken by Greensolver. To date, 800MW of onshore wind is continually being benchmarked within the system and with a confirmed target of over 1000MW by year end. In addition the wider Greensolver activity includes the day to day asset management of over 400MW of wind and solar assets and having provided the construction supervision to 360MW of wind and solar and providing transaction and technical advisory services on more than 2.5GW of wind and solar. This provides a basis for deeper analysis on a case by case basis should the benchmark customer require.
Initially created by Veolia Environment in 2008, Greensolver became independent in 2012.
