Portfolio-wide turbine benchmarking crucial to tracking under-the-radar serial defects

Portfolio-wide turbine benchmarking crucial to tracking under-the-radar serial defects

Asset owners must learn from a recent run of publicized turbine defects, and benchmark their assets at a portfolio level to overcome missing data around serial faults

 

Clir Renewables, the leading provider of performance assessment software for renewable energy, has today called on asset owners to benchmark the performance of their renewable energy equipment at portfolio, rather than project, scales.

 

While a number of high-profile manufacturers have recently announced losses owing to the repair and replacement of turbines with blade or tower defects, very few of these serial faults are made public until they affect the manufacturers’ balance sheet. In order, therefore, for asset owners to understand what issues might be recurring, a lack of transparency around ‘big picture’ operational data must be addressed.

 

Clir argues that in the absence of industry-wide transparency on serial defects, owners need to use their asset and project data to build a portfolio-wide understanding of asset health and act on issues before they impact performance or result in a critical failure.

 

Today’s turbines are four times as large as the average assets installed in the wind power boom of the 1980s, with the next generation of turbines set to reach new heights offshore. However, as complex, highly innovative new technology is rolled out across the globe, major unknowns around asset performance in specific environments remain. As such, recurring issues are often only recognized and addressed many years later.

 

Gareth Brown, Chief Executive Officer, Clir Renewables, commented: “Often, serial defects do not surface until the asset has been operational for more than ten years – however, if operational and performance data from new turbines were freely shared between the manufacturer, the owner, and the operator, defects common to certain models could be identified and addressed early.”

 

“At Clir, we are taking three key steps to overcome the issue of missing data on serial defects. Firstly, by facilitating owner-to-owner collaboration on specific issues. This gives our clients the ability to either jointly tackle an issue or learn from each other’s first-hand experience. Secondly, by building a knowledge base of known issues that have been identified through our supported asset base and complemented by decades of in-house domain expertise. Lastly, by arming clients with the right information during Turbine Supply Agreement or Service and Maintenance Agreement negotiations to ensure the most favourable terms are in place should defects occur.”

 

“Unfortunately, this level of information sharing is not the norm. However, by analyzing turbine data holistically from day one of operations, benchmarking performance against every other turbine of that model in the owner’s portfolio and against Clir’s supported portfolio as a whole, common issues – serial or otherwise – can be tackled before they impact operations.” Gareth continued.

 

Recently, Clir announced that more than 5GW of renewable energy assets have been signed up to the firm’s platform over the last year.

 

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Clir Renewables ranks no. 63 on the 2020 Startup List

Clir Renewables ranks no. 63 on the 2020 Startup List

Canadian Business unveils annual list of Canada’s Fastest-Growing Companies

Canadian Business today ranked Clir Renewables No. 63 on the Startup List, the definitive ranking of Canada’s Fastest-Growing Companies. Produced by Canadian Business, the Startup and Growth Lists rank Canadian businesses on revenue growth.

Clir Renewables made the 2020 Startup List with two-year revenue growth of 314%. Gareth Brown, CEO of Clir Renewables said, “We’re honoured to make the Startup List ranking. Making the list is a testament to the hard work, dedication, and determination of our team to produce a top-quality product and ensure clients receive the best service.”

Startup and Growth List winners are profiled in a special print issue of Canadian Business published with Maclean’s magazine and online at CanadianBusiness.com and GrowthList.ca.

“The companies on the 2020 Growth List are really exceptional. Their stories are a masterclass in how to survive when the economy throws a curveball. Despite turbulence, the 2020 Startup List companies showed resilience, spirit and, most importantly, empathy and strong leadership,” says Susan Grimbly, Growth List Editor. “As we celebrate over 30 years of Canada’s Fastest-Growing Companies program, it’s encouraging to see that the heart of Canada’s entrepreneurial community beats strong, even in tough times.”

About the Growth List
For over 30 years, the Growth List ranking of Canada’s Fastest-Growing Companies (formerly the Growth 500) has been Canada’s most respected and influential ranking of entrepreneurial achievement. Originally developed by PROFIT and now published in a special Growth List print issue of Canadian Business (packaged with the December issue of Maclean’s magazine) and online at GrowthList.ca and CanadianBusiness.com, the Growth List ranks Canadian companies on five-year revenue growth, and the Startup List ranks Canadian
new growth companies on two-year revenue growth. For more information on the ranking, visit GrowthList.ca.

About Canadian Business
Founded in 1928, Canadian Business is the longest-serving business publication in the country. It has fuelled the success of Canada’s business elite and, through the Growth List ranking, celebrates leadership, innovation, business strategy and management tactics. Learn more at CanadianBusiness.com.

Clir Renewables provides asset managers and owners with tools to maximize annual energy production and provide clarity on portfolio performance.

Clir supports Elemental’s M&A activity with in-depth analysis of wind farm performance potential

Clir supports Elemental’s M&A activity with in-depth analysis of wind farm performance potential

Clir to assess turbine health, energy yield, and opportunities for maximizing generation ahead of wind project acquisition

 

Clir Renewables, the leading provider of performance assessment software for wind energy, has supported Elemental Energy Inc., a major renewable energy developer and investor, in an M&A consideration by analyzing renewable energy assets ahead of acquisition.

 

The North American renewable energy M&A market is thriving, with a record volume of onshore wind and solar capacity bought and sold in 2019. While a large proportion of wind acquisitions have been for new installations, investors are increasingly looking to buy operational projects that have the potential to generate higher returns than historical performance would imply.

 

Clir utilized its industry leading software to assess the project that Elemental was considering for acquisition. By analyzing turbine SCADA and environmental data alongside a review of operational reports and additional information provided in the data room, Clir was able to provide Elemental with an Energy Yield Assessment and Turbine Health Assessment. Clir also identified potential opportunities to increase production. Despite a complex scope of work, Clir was able to deliver the results to the client within 7 days of receiving access to the data room.

 

Gareth Brown, CEO, Clir, said: “The majority of operational renewable energy projects on the market are underperforming and could deliver a greater rate of return for asset owners. However, identifying the true causes of underperformance from turbine data can be extremely difficult using typical methods of data analysis.

 

“Clir can assess data, quantify underperformance, and evaluate turbine health significantly faster than traditional data analysis tools to reduce risk and inform decision-making. This allowed Elemental to quickly see the true value of the project ahead of closing the acquisition.”

 

Daniel Eaton, Director of Project Development, said: “Clir’s analysis has been incredibly helpful in supporting our financial decision-making. In addition to being an early subscriber to Clir’s platform, Clir previously supported Elemental with validating OEM software upgrades by demonstrating whether expected revenue gains from turbine upgrades would offset the associated costs.

 

“Armed with this insight, we have been able to make informed decisions about whether or not to trial new technology and understand the expected impact of generation. Having become familiar with Clir’s ability to quickly manage large datasets and conduct complex analysis, it was a natural progression to use their expertise during the tight constraints of an M&A transaction.

 

“We are looking forward to seeing the extent to which Clir can support us in ensuring assets we consider acquiring are worth the investment – not just in terms of revenue gain, but considering turbine faults, technical issues, and other risks that may affect wind farm performance and financial returns.”

 

 

About Elemental Energy

Elemental is a developer, investor and operator of renewable energy projects, with interests in operating and development stage wind, solar, and hydro projects throughout North America. We are committed to projects that generate long term financial returns, environmental benefits for the planet, and positive social impacts for the communities in which we work.

For more information, visit www.elementalenergy.ca

 

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Clir targets ‘culture of innovation’ across global renewable energy markets with new senior hire

Clir targets ‘culture of innovation’ across global renewable energy markets with new senior hire

Clir Renewables appoints Tim Reitsma as Director of People and Culture as the firm outlines plans for growth in solar and Asian markets

 

Clir Renewables, the leading provider of performance assessment software for renewable energy, today announces the appointment of Tim Reitsma as Director of People and Culture. Formerly of FLIR Systems, SPARK Creations & Company, and co-founder of the People Managing People podcast, Tim will lead on ensuring Clir’s strong internal culture of innovation and diversity is reinforced and replicated as the firm expands into new technical and regional markets.

 

Clir’s platform uses artificial intelligence to analyze wind turbine and solar panel data in the context of the surrounding environment and the wider portfolio of assets. Tim joins Clir during a year of rapid growth and development, with the firm having increased the capacity of onshore and offshore wind assets analyzed by its platform to 7GW since the start of the year, expanded its technical offering to include solar PV optimization, and reinforced its presence in the Latin American and Spanish markets with a number of senior hires. Alongside ongoing growth in existing markets, the company has now set its sights on optimizing wind and solar assets in a number of new markets across the globe.

 

Throughout this growth, Clir has remained dedicated to fostering a diverse and inclusive, as well as confident and innovative, workforce. Earlier this year, the firm committed to the Equal by 30 campaign to promote gender equality within the organization in terms of recruitment, wages, and leadership. At present, 40% of Clir’s leadership roles are currently held by women.

 

Commenting on his appointment, Tim said: “I am excited to help Clir leverage a wealth of expertise and enthusiasm within the team to drive both personal and business growth. From my experience, beyond a great product and processes, a company’s people are key to success. Only by investing in the development of the team can a company sustain momentum.

 

“Clir has a great workplace culture, with the company putting in time and effort into developing a team of passionate industry and technical experts who truly believe in driving forward the energy transition. I look forward to taking this to the next level as the business grows on an international scale.”

 

Gareth Brown, Chief Executive Officer of Clir, said: “Tim has some excellent experience in building, maintaining, and inspiring diverse teams and safeguarding inclusive working cultures. We see these values as integral to the future growth of Clir domestically and overseas.

 

“We believe that by properly investing in our team, everybody – our business and our customers – benefits. With Tim onboard, we will continue to create an environment where every one of our team members can thrive and work together to drive digital innovation in the renewable energy industry. We look forward to welcoming him to the business.”

 

Interested in joining the Clir Renewables team?

Clir Renewables expands market presence in Spain with new senior appointment

Clir Renewables expands market presence in Spain with new senior appointment

Clir amps up outreach for market-leading asset performance optimization offering to the high potential Spanish wind and solar market

 

Clir Renewables, provider of industry leading performance assessment software for renewable energy, has announced the appointment of Javier Pérez Alonso, formerly of LM Wind Power (GE Renewables), Shell and Centrica as Senior Business Development Manager. Based in Madrid, Javier will lead the expansion of Clir’s wind and solar optimization platform in the Spanish market.

 

Javier brings over a decade of experience in the renewables industry to his new role at Clir. During his nine years at LM Wind Power, Javier led customer relations and key account management for Acciona and Alstom global projects and the O&M and servicing side of the business across Southern Europe, including the deployment of the world’s largest turbine blade offshore in 2011.

 

The Spanish wind and solar sectors have grown significantly in recent years in response to the nation’s ambition for 100% renewable energy supply for national electricity by 2050. As such, the industry must ensure new and already operational assets are generating to their full potential in order to keep clean energy targets within reach.

 

Craig McCall, Chief Revenue Officer, Clir, said: “We are delighted to be bringing Javier on board to drive Clir’s outreach in the Spanish market. With Javier’s vast experience on side, we stand to achieve our goal of supporting asset owners across the country in seeing the potential of their installed capacity fully realized – both in terms of energy production and return on investment.”

 

Clir’s platform analyzes wind and solar asset data in the context of each asset’s environment, inclusive of resource and geospatial impact. This allows asset owners to identify and tackle underperformance that is often lost in the “noise” created by multiple inconsistent data streams and fluctuation in resource. The true understanding of asset performance that Clir’s analysis generates supports project owners in understanding whether their individual assets, projects, and wider portfolios are performing to their potential and the actions necessary to optimize them.

 

Craig continued: “An in-depth understanding of asset performance allows owners to not only improve production but also monitor asset health, enhance their own domain expertise and also reduce risk by reforecasting a project’s energy yield, monitoring providers contractual performance and validating the impact of any upgrades on a given project.”

 

Javier commented on his appointment: “Spain has the resource potential to be a world leader for both solar and wind power, but to hit the target of 100% renewable generation by 2050, and the milestone of 20% by the end of this year, the industry needs to draw as much power for as long as possible from their operating projects. Optimizing Spain’s existing installed capacity is a clear next step to ensuring clean energy can provide a consistent – and increasing – share of the energy mix.

 

“I look forward to supporting wind and solar project owners and operators across Spain in getting the most out of their assets through the unparalleled insights Clir’s market-leading platform can provide.”

 

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Clir Renewables secures C$1.7m debt facility with Silicon Valley Bank

Clir Renewables secures C$1.7m debt facility with Silicon Valley Bank

Clir invests in expanding reach of innovative renewable energy optimization software in new markets, targets a 5% increase in global clean energy output

 

Clir Renewables, the leading provider of performance assessment software for renewable energy, has secured a C$1.7m loan with Silicon Valley Bank, the bank of the world’s most innovative companies and their investors.

 

The debt facility will enable Clir to drive further expansion and development of its software.

 

As investment into global renewable energy assets increases, there is a commensurate demand for a better understanding of clean technology performance and revenue management.  Clir’s AI-driven platform generates a complete picture of individual asset and portfolio performance by digitizing each turbine or solar PV cell and its specific environmental context. By analyzing asset data in this context, Clir’s platform can pinpoint whether underperformance is owing to low resource, interference from the surrounding environment, or an issue with the technology itself. Owners can then apply the insights Clir’s analysis generates to increase annual energy production by up to 5%.

 

This type of technical innovation has a key role to play in establishing the clean, sustainable, and efficient energy system required to meet global power needs whilst decarbonizing.

 

The agreement with Silicon Valley Bank, therefore, is crucial not only for Clir in continuing to evolve its technology, but ultimately in helping to provide a route for investors to better understand the opportunities in renewable energy investment.

 

Gareth Brown, Chief Executive Officer, Clir, said: “Renewable energy is clearly the only way forward as we look to meet our future energy needs, but the majority of wind and solar projects are performing far below their potential. Clir’s focus is on addressing this shortfall, and, to do so, we must shake out assumptions around the causes of underperformance holding the industry back.

 

“Clir’s AI-mediated software provides owners with the in-depth analysis they need to identify and fix consistent underperformance hidden in the “noise” of asset data and, ultimately, predict future energy yield more accurately. This doesn’t just result in better financial terms and returns for existing projects but will help drive an increase in investment in renewable energy at a global scale.”

 

2020 has already proved a milestone year for Clir, which has now onboarded more than 6GW of wind – including 1GW from offshore projects. The business has expanded into Latin American markets following strong results across Europe and North America and is now investing in expanding its global expertise across wind and solar technologies.

 

Graeme Millen, Director of Energy and Resource Innovation at Silicon Valley Bank in Canada, commented: “Silicon Valley Bank is thrilled to be working with Clir Renewables as they scale their clean energy asset optimization technology. The continued expansion of zero emission energy generation will be enabled and reinforced by innovative technology like Clir’s.”

 

About Silicon Valley Bank

For more than 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast.

SVB provides targeted financial services and expertise through its offices in innovation centres around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators.

 

Learn more at www.svb.com/Canada