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Next generation renewable energy portfolio asset management based on predictive analytics

Next generation renewable energy portfolio asset management based on predictive analytics

Objective

Isotrol, as a specialist on ICT solutions for renewable energies, has identified a business opportunity of develop and take to market a new generation of portfolio asset manager based on analysing on the large amount of technical and economic data available.

The consolidation of the renewable energies sector and the change of centre of gravity from technical towards financial and asset managers as the main players in the sector. These actors handle hundreds or thousands of energy generation facilities from a large diversity for sizes and technologies (Wind, Photovoltaics, Biomass, Hydro) that has purchased from promoters. The existing tools in the market are based on informational systems or scorecards for the main parameters of the facilities, but, in general, have not been able to take advantage of the complete digitization of the processes and the new techniques of BigData, predictive analytics and systems capable of learning that are capable of provide detailed insights of the portfolio for: a) detecting non-optimal production. b) selling energy strategy and c) O&M cost reductions. The solution is focused as a services (SaaS) for the management of the portfolio, providing specific information about these three areas. On-premise installation for some customers are also foreseen. This data driven predictive analytics over the detailed information of a renewable portfolio is expected to increase the revenue for asset manager in a 10%.

Renewable energies is a key sector for EU economy that already employs over 1 million people and accounted for EUR 144 billion in 2014. The Renewable Energy Directive has the aim of making the EU world number one in renewables. European Commission has set the objective of 27% share of renewable energy for 2030. Growing rates for large (‘utility-scale’) renewable facilities are very consistent in main accessible markets (USA 51% in PV and 11% in wind; Europe, 12% and 5%, Latam 280% and 38%).
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Coordinator

ISOTROL SA

Address

Avenida Isaac Newton 3
41092 Sevilla

Spain

Activity type

Private for-profit entities (excluding Higher or Secondary Education Establishments)

EU Contribution

€ 50 000

Project information

Grant agreement ID: 782545

  • Start date

    1 August 2017

  • End date

    31 January 2018

Funded under:

H2020-EU.3.3.

H2020-EU.2.1.1.

H2020-EU.2.3.1.

  • Overall budget:

    € 71 429

  • EU contribution

    € 50 000

Coordinated by:

ISOTROL SA

Spain