Asset management firm Clir Renewables has been selected by renewable energy investor Cubico Sustainable Investments to manage a portfolio of more than 500MW in Latin America.
Clir will monitor, optimise and report the performance of Cubico’s three wind energy projects in Brazil and Uruguay.
Machine learning will be used to analyse multiple data streams, including near real-time and historical SCADA data from the turbine and grid, geospatial and weather records to pinpoint whether underperformance is due to low resource, environmental interference, or fixable technical errors.
The insights to be gained from the project will be used by Cubico to make informed decisions for optimal management and operation of its wind energy assets. For instance, to model future revenue streams and to identify opportunities to negotiate existing terms on debt financing, or insurance.
With the Latin American renewables market growing as countries seek to achieve 2030 targets to produce 70% of electricity from clean sources by 2030, project developers and owners are facing many challenges when assessing the performance of their projects, from grid integration to the enormous scale and variation of data from disparate projects, according to a statement.
Didier Frávega, director, Latin America, Clir, said: “Latin America is a key market for renewables, and by breaking down the data of existing assets, our platform will provide Cubico with comprehensive analysis of their investments in the region, accessible anywhere in the world.”
Charlie Plumley, performance manager, Cubico, adds: “At Cubico we are keen to apply innovative solutions and are fully invested in ensuring our projects are proactively managed to provide market-leading results.
“With this in-depth understanding of asset performance accessible to all stakeholders, we will be able to more accurately predict future energy yield, validate decision-making, drive improvements, and ultimately create additional value for Cubico.”
Real-time monitoring of wind and solar assets is critical across Latin America as the region increases projects deployment to diversify the energy mix. While hydropower currently dominates Uruguay and Brazil’s energy mix, wind and solar projects are expected to see widespread rollout.