Global certification company DNV has acquired South American-based energy price forecaster Antuko.
Ditlev Engel, chief executive of Energy Systems at DNV, said his organisation and Antuko had been collaborating “for some time, particularly when there is a need for power forecasting or any kind of financial approach to energy generation and its commercialization strategy”.
“The combination of our services in this area is an excellent strategic fit and Antuko joining the DNV family gives us the opportunity to offer better services to our customers.”
Antuko chief Olivier Potart added that the deal will enable his company to gain access to a much larger global network and to expand its services.
Antuko has its headquarters in Chile and provides quantitative analysis, risk assessment and market Intelligence, transactional advisory to energy market players.
With the energy sector anticipated to witness a lot of changes through to 2050 owing to changing business models, the digital transformation, enactment of climate mitigation policies, increased industrialization and urbanization, and the increasing penetration of renewable energy, power price forecasting will be vital to enable informed energy investments.
DNV predicts electricity demand to more than double by 2050 and the share of electricity in the global energy mix to increase from 19% in 2018 to 41% in 2050.
In the manufacturing sector, electricity demand is expected to increase by 46%, in buildings by 100% and in the transport sector by 26 times.
As such, accurate forecasting will be vital to help stakeholders plan and execute business strategies and energy investments in line with market changes to optimize operations and customer services, as well as align operations with sustainability goals and local and international climate mitigation policies. DNV hopes to make use of Antuko’s experience to offer such services.
Since its launch in 2010, Antuko has been providing renewable energy developers with data and intelligence on how to penetrate the market.
The company expanded its operations into Mexico in 2015, Spain in 2016, and Portugal in 2016. Today, the firm has worked on more than 300 consulting projects, helped with the financing and development of more than 4GW of renewable energy projects, and provided advisory services for more than 20 merger and acquisition transactions.
Santiago Blanco of DNV said the integration of Antuko´s capabilities into DNV’s portfolio “offers a one-stop-shop for energy projects. We are providing a holistic approach, covering both the technical dimension of the project, including the amount of energy a project and portfolio could generate based on technology, and also the market revenues that they could obtain, as well as ways to optimize a customer’s commercial strategy.”