Company’s record quarter underscores escalating investor appetite for efficiency and revenue gains of wind assets
BURLINGTON, MA, USA - WindESCo, a pioneer in innovative renewable energy optimization technologies, has confirmed a benchmark increase in assets under management through the first 90 days of 2021. The partnerships comprise an increase of over 50% against the closing months of 2020, with locations in North America, Asia Pacific, Europe, Middle East and Africa.
The milestone marks a significant evolution in the continuing maturation of the wind industry, as investors seek to improve their revenue and bolster balance sheets through a rigorous understanding of their annual energy production. Growth occurred primarily in the North American market, along with the opening of new customer opportunities in both Europe and India.
Speaking on the results, Blair Heavey, CEO of WindESCo, commented: “Investors in the wind market are facing new challenges in terms of increasing revenue as the sector simultaneously grows more expensive, more populated, and more complex. In a climate of uncertainty, we are proving ourselves as a trusted partner, driving beyond top-line data monitoring to suggest improvements, affect change, and deliver real value for customers.”
WindESCo’s proprietary algorithms have outpaced many challengers in the market by identifying and resolving restrictions to output through leading-edge hardware and controller modifications, as well as measuring AEP improvements and delivering revenue gains within a full-service optimization offering.
The company’s first quarter performance echoes their key innovations in the market, utilizing proprietary machine learning technology to enact real change and tangible gains for investors, with a mission to maximize the performance of wind farm assets by ensuring every turbine achieves its optimum energy production and reliability.
Efficiency has emerged as a critical commercial advantage for wind farm operators as the cost profile of the sector transforms. The increasing size of wind farms, and their component parts, has driven up overall costs in the last decade; a phenomenon compounded by the influx of larger entities into the market. Improved profitability through increased operational efficiency of existing assets is a natural counter to the potential decline in financial viability of new projects.
Heavey noted, “Our software service is built on deep wind turbine expertise and first-hand understanding of how complex wind dynamics, turbine controls and wind loads impact revenue. Our ability to evidence these conditions with our proprietary algorithms and act on them to positive effect has been crucial to our industry credentials and growth, and the success we have delivered for our customers. We’re incredibly proud to start 2021 at such a high point, delivering more real revenue value for our customers, and we look forward to continuing this trend throughout the year and beyond.”
WindESCo recently announced its approval from DNV for its Energy Improvement Analysis Method, marking a significant advancement in machine learning technologies for measuring performance change at wind plants. Using this measurement methodology, WindESCo’s services have demonstrated returns of up to seven times the investment. Furthermore, operators generally realize payback from WindESCo’s services within 12 months.
WindESCo was also selected from a field of more than 150 entrepreneurs to participate in the 26th Annual Innovation Growth Forum (IGF) sponsored by the U.S. Department of Energy's National Renewable Energy Laboratory (NREL), which took place April 21-22. It is one of the nation’s premier events for cleantech entrepreneurs and other industry experts, wherein a final shortlist of 40 of the world’s most promising start-up companies, elected through an extensive selection process, present their innovations to potential investors and industry experts. More than 600 cleantech investors, entrepreneurs, and industry representatives attended this year’s IGF.
WindESCo drives annual energy production gains for wind turbine owners, operators and investors by monitoring and analyzing high-resolution wind turbine data through patented algorithms. They find and fix anomalies in Yaw alignment, Pitch Optimization and Wake Steering through hardware and controller modifications, measuring AEP improvements to deliver revenue gains.
Their independent outlook improves the revenue position of customers, paying for itself within 12 months, and returning up to seven times on investment.
WindESCo’s software service is built on wind turbine expertise and first-hand understanding of complex wind dynamics, turbine controls and wind loads, bridging the gap between the AEP improvements wind operators expect, and the service agreements signed with their OEMs.