Block ip Trap
Mar 28, 2024
Noodoe Secures Prestigious GSA Multiple Award Schedule Contract, Expanding its Reach Within Federal Agencies

Noodoe, a global leader in electric vehicle (EV) charging solutions, is proud to announce its recent achievement in obtaining a General Services Administration (GSA) Multiple Award Schedule (MAS) contract. This significant milestone, marked by the contract number 47QMCA24D0005, positions Noodoe as a key player in the federal marketplace, offering its innovative EV charging technologies to a range of government agencies.

Noodoe's EV charging technology makes managed EV charging infrastructure hands-off and reliable.

Noodoe's EV charging technology makes managed EV charging infrastructure hands-off and reliable.

Jeff Rothe, Vice President of Sales, expressed enthusiasm about this new venture: "We are honored to receive the GSA Multiple Award Schedule contract, which is a testament to our dedication to quality and innovation. This contract opens new doors for Noodoe, allowing us to play a pivotal role in supporting the government's environmental objectives. We are excited to bring our expertise in EV charging solutions to government agencies, contributing to a sustainable future for all."

The GSA MAS contract signifies a streamlined procurement process, enabling federal, state, and local government entities to access Noodoe's cutting-edge EV charging solutions efficiently and cost-effectively. This contract underscores Noodoe's commitment to supporting the U.S. government's sustainability goals and the broader transition to electric transportation.

Key Highlights:

GSA MAS Contract Award: Noodoe's inclusion in the GSA Schedule, under contract number 47QMCA24D0005, facilitates government agencies' access to state-of-the-art EV charging infrastructure.

Supporting Government Sustainability Initiatives: Noodoe's EV charging solutions align with the government's focus on sustainability and reducing carbon emissions, supporting initiatives to increase the adoption of electric vehicles within government fleets and facilities.

Enhanced Accessibility: Government agencies can now leverage Noodoe's technology through a simplified procurement process, ensuring that they benefit from competitive pricing and top-tier EV charging solutions.

Noodoe | https://www.noodoe.com/

Mar 28, 2024
Boston Solar Commercial Division Completes Solar Installation for Twin Solar Systems at Framingham, MA Apartment Complex

SinglePoint Inc (CBOE: SING) ("SinglePoint" or "the Company") subsidiary Boston Solar, a proud partner of the Boston Red Sox and a leading provider of solar energy solutions, proudly announces their transformative solar installation project at Pelham Apartments in Framingham, Massachusetts. This milestone emphasizes Boston Solar's commitment to driving sustainable energy solutions in the Massachusettscommercial sector while fortifying its position as an industry leader in solar innovation.

The Framingham, MA apartment complex project is comprised of two identical solar panel systems that span across four rooftops within the complex. Each system boasts a capacity of 30.96kW DC / 20kW AC, comprised of 86 Hanwha Q.PEAK DUO BLK-G10+, 360W solar panels and two SolarEdge 10kW inverters. The installation has recently passed inspection and the company is working with their utility company to begin the PTO process.

"As we are nearing the final stages of this project, we are excited to start bringing clean energy to the residents of community and more importantly the residents living in each building" says Michael Morlino, President of Boston Solar. This project will reduce the reliance on traditional energy sources for the complex while simultaneously contributing to a cleaner and greener future for the city of Framingham, MA." 

Boston Solar maintains its track record of executing commercial projects with precision and excellence, having served renowned clients including Fenway Park, a global manufacturer, luxury hotel chain, and a Federal Agency. Updates on ongoing projects are regularly provided, with further progress anticipated. Looking ahead to the remainder of 2024 and based upon the current pipeline and commercial contracts, Boston Solar Commercial is experiencing a notable increase in commercial projects, driving substantial revenue growth.

Boston Solar | www.bostonsolar.us

Mar 28, 2024
LF Energy Releases Annual Report, Exploring Community Progress in 2023

The vision of LF Energy is to create a technology ecosystem that enables decarbonization of the energy sector through innovation and interoperability. This includes the entire technology stack used by those producing, transmitting, distributing, and using energy over large grids, microgrids, distributed energy resources and storage, electric vehicles, and more. The LF Energy 2023 Annual Report provides detailed insight into the progress made last year in pursuit of that mission.

2023 saw tremendous growth for LF Energy, with nine new projects added to bring the total to 30. Nine new members also joined, contributor strength grew by 30%, lines of code hosted grew by 22%. The EVerest and SEAPATH projects graduated to the Early Adoption phase, in addition to hosted projects across the board seeing rapid growth in deployments. LF Energy also hosted and participated in a wide variety of events globally and produced four original research reports to spread the word about open source software and standards for the energy transition.

All this and more is discussed in the report. The LF Energy community invites you to review this report in detail, learn from our successes last year and take inspiration from them to drive towards an even more successful 2024.

Download the LF Energy 2023 Annual Report.

LF Energy | https://lfenergy.org/

Mar 28, 2024
Shell and Verdagy to Collaborate on Renewable Hydrogen Projects

Verdagy, a renewable hydrogen electrolysis company with over a decade of technology and product development experience, announced that Shell provided technical endorsement of Verdagy's eDynamic electrolyzers. This major step qualifies Verdagy as a supplier in its upcoming green hydrogen projects. Verdagy worked with the Shell team to successfully complete a rigorous "HAZOP" (safety) review along with a detailed Design and Technology Development Review of Verdagy's electrolyzers, as necessary and important steps to commercial adoption within Shell.

Verdagy 2 Megawatt Pilot Plant

Verdagy 2 Megawatt Pilot Plant

"Verdagy has developed and commercialized dynamic and cost-competitive electrolyzers for infrastructure-scale projects," said Andrew Beard, Vice President of Hydrogen, Shell. "We're excited with the outcomes of our evaluations and are enthusiastic to continue working with Verdagy in the near future."

Shell conducted Technical Feasibility and Technology Development Reviews for Verdagy's 20 megawatt (MW) eDynamic Electrolysis system, which included in-depth diligence of electrolyzer operation, performance, stability and safety.  Verdagy uses the 20 MW electrolyzer as a building block for infrastructure-scale, (100 MW and larger) renewable hydrogen installations.

"The Verdagy and Shell teams are excited by the successful completion of this year-long collaboration, and I look forward to the uptake of Verdagy's advanced electrolyzers by the industry following Shell's technology endorsement." said Marty Neese, CEO, Verdagy.

Verdagy's electrolyzers provide the lowest levelized cost of hydrogen (LCOH) by combining high current densities, the widest operating range in the industry and fast response, to enable seamless coupling with renewable power sources. Verdagy is committed to achieving the US Department of Energy's goal of $2/kg of levelized cost for renewable hydrogen by 2026; the company was recently awarded a $39.6M grant (pending negotiations) by the Department of Energy to accelerate the high-volume manufacturing of Advanced Alkaline Water Electrolysis eDynamic electrolyzers.

Verdagy | www.verdagy.com

Mar 28, 2024
EnergySage Launches Installer of the Year Awards to Recognize the Resilience of Outstanding Installers in the Clean Energy Industry

EnergySage, the leading marketplace for consumers to shop, compare, and save on clean home energy solutions, announced the launch of its first-ever Installer of the Year awards.

There are more than 500 solar, HVAC, and electrical installers in the EnergySage network, all of whom are vetted with rigorous standards, including national certifications, industry experience, and a history of high-quality service. The 2024 awards program recognizes installers in the EnergySage Marketplace who consistently exceeded these criteria last year, which included customer satisfaction ratings, years of service, alignment with EnergySage values, and more.

The 2024 EnergySage Installer of the Year award recipients are:

  • Regional winners: All Energy Solar (MA, MN, WI), Renu Energy Solutions (NC, SC), Solar Optimum (AZ, CA, FL, NV)
  • Local winners: Apollo Energy (UT), ArtGreen Solar (CA), Blossom Solar (WA), Cape Fear Solar Systems LLC (NC), Centauri Systems (MN), Creative Solar USA (GA), Energy Solutions LLC (OR), EnSMARRT (OH), Exact Solar (PA), Great Sky Solar (MA), Greenlink Energy Solutions (IL), Green Power Energy (NJ), Guardian Solar LLC (FL), HB Energy Solutions (VT), Home Team Energy (WI), JSunPV (KS), Magic Solar (ID), New York State Solar Farm (NY), Nova Solar(VA), Perihelion Solar (AR), ReNew Solar Solutions (TN), Revolution Solar (DC), Solar Side Up (CO), Solartime USA Inc (TX), Solar Topps (AZ), Strawberry Solar (MI), SunSent Solar (MO); The state listed denotes company headquarters location.

"We are thrilled to launch the Installer of the Year awards to recognize the outstanding work of our installer partners," said Charlie Hadlow, Chief Operating Officer & Head of EnergySage. "Our suppliers are a critical part of what we do, and we're committed to helping them grow as they work to expand access to renewable energy across the country. There is so much passion in this industry, and I could not be happier to recognize these organizations for their excellence in consumer service."

Despite persistent inflation and changing state incentives, most notably in California, installers on the EnergySage Marketplace have remained remarkably resilient. 80% of installers surveyed nationally by EnergySage at the end of 2023 still expect business to grow over the next three years, despite 75% saying that increasing interest rates have adversely impacted their businesses.

In addition to the Installer of the Year awards, EnergySage supports contractors in other ways, such as expanding their access to high-intent potential customers, pairing each installer in the network with a dedicated Partner Success Manager, increasing search visibility, and providing unique market data and insights. These efforts help top-quality installers grow and scale their business efficiently while helping consumers shop and compare clean energy solutions with confidence.

EnergySage | https://www.energysage.com/

Mar 28, 2024
Lightshift Energy Raises $100 Million From Greenbacker Capital Management to Expand Utility Scale Battery Storage Across North America

Lightshift Energy (“Lightshift”), formerly known as Delorean Power, announced capital infusions totaling $100M from Greenbacker Capital Management LLC ("Greenbacker" or “GCM”). The company has secured $20M from a GCM-affiliated investment vehicle dedicated to making growth equity investments in sustainable infrastructure development platforms. These funds will be used to scale Lightshift’s team, accelerate sales, and grow its pipeline. In addition, Lightshift has secured $80M from a second GCM-affiliated investment vehicle that invests in sustainable infrastructure assets. This capital will support the construction and operations of Lightshift’s portfolio.

“Greenbacker’s expanded partnership with Lightshift Energy reaffirms our company’s commitment to expediting the integration of sustainable energy across the United States,” said Benjamin Baker, Head of Greenbacker’s growth equity strategy. “Lightshift is uniquely positioned to assist utilities in optimizing battery storage for their systems, meeting growing demand for grid resiliency, and integrating an increasingly complex power system with energy storage solutions.”

These commitments build upon Greenbacker’s initial strategic equity investment in the company in 2021—a $20M investment from Greenbacker Development Opportunities Fund I, LP. These recent investments come on the heels of Lightshift Energy’s recent rebrand from Delorean Power, and are earmarked for bolstering the company’s operational capacity and expanding projects to meet the burgeoning demand for integrated grid solutions.

“Utility-scale grid storage is revolutionizing electricity management, and Lightshift’s battery solutions provide both energy reliability and cost stability,” said Dan De Boer, Head of Infrastructure for Greenbacker’s sustainable infrastructure strategy. “As rural and urban utilities continue to seek cost-efficient, sustainable options that increase their communities’ energy resilience, Lightshift is a proven partner to meet those needs.”

Founded in 2019 by energy transition veterans Michael Herbert and Rory Jones, Lightshift has experienced unprecedented growth and is now among the most trusted providers of innovative energy storage solutions. Since Greenbacker’s previous financial commitment, Lightshift has added an extraordinary bench of talent and significantly expanded its pipeline. The recent investments will help Lightshift meet the fast-growing demand for its projects across public power, investor-owned utilities and large corporate consumers in the U.S.

“Rapidly increasing electricity demand and the growing appetite for renewable energy are straining our legacy energy infrastructure and creating major supply, cost and reliability challenges across the country. Our storage projects are purpose-built to address these challenges, helping our utility partners achieve major cost reductions while paving the way for reliable and sustainable growth,” said Rory Jones, Managing Partner, and co-founder of Lightshift. “Our unique approach to storage development and operations considers the full landscape of technical and economic challenges confronted by our partners and uses the flexibility of batteries for maximum impact.”

With over 20 battery projects under contract to date and a pipeline in excess of 4,000 MW, Lightshift is leading America’s integrated grid energy transition. The company’s 10.5 MW battery facility in Danville, Virginia, which has been operating since 2022, is expected to save the city of Danville more than $40 million, providing a significant boost to local ratepayers while supporting broader grid reliability. Lightshift is replicating this level of impact across its geographically diverse pipeline.

Lightshift Energy | www.lightshift.com

Greenbacker Capital Management | https://greenbackercapital.com

Mar 28, 2024
Voltera Welcomes Marie Robinson to Its Board of Directors

Voltera, a leading developer, owner, and operator of charging and refueling infrastructure for zero-emission vehicle (ZEV) fleets, is pleased to announce the appointment of Marie Robinson to its Board of Directors, effective immediately.

Marie Robinson brings extensive experience in supply chain, logistics, and operational excellence from her distinguished career, most recently serving as EVP and Chief Supply Chain Officer for Sysco. In this role, she led global supply chain operations across 353 distribution centers, managing over 20,000 associates with P&L accountability, and played a crucial role in the electrification of Sysco's truck fleet as part of their corporate social responsibility strategy. Her expertise in driving operational efficiency and scaling infrastructure solutions will be invaluable to Voltera as the company continues to expand its portfolio of zero-emission vehicle refueling facilities across the United States.

"Marie's deep understanding of the logistics and supply chain challenges faced by fleets transitioning to zero-emission vehicles is a perfect match for Voltera's mission," said Matt Horton, CEO of Voltera. "Her strategic vision, proven track record, and significant contributions to supply chain transformation and sustainability initiatives will be instrumental in guiding Voltera's growth and enhancing our capabilities to support the electrification of transportation at scale."

Robinson's appointment comes at a time when Voltera is accelerating its efforts to deploy critical charging infrastructure necessary for the widespread adoption of zero-emission vehicles. With her guidance, Voltera aims to further its commitment to providing turnkey solutions that address the complex needs of fleet operators and contribute to the decarbonization of the transportation sector.

Voltera | volterapower.com

EQT | www.eqtgroup.com

Alternative Energies May 15, 2023

Mobilizing to Win

The United States is slow to anger, but relentlessly seeks victory once it enters a struggle, throwing all its resources into the conflict. “When we go to war, we should have a purpose that our people understand and support,” as former Secretary ....

Alternative Energies Jun 26, 2023
8 min read
Investing in the Future: Mobilizing capital and partnerships for a sustainable energy transition

Unleashing trillions of dollars for a resilient energy future is within our grasp — if we can successfully navigate investment risk and project uncertainties.

The money is there — so where are the projects?

A cleaner and more secure energy future will depend on tapping trillions of dollars of capital. The need to mobilize money and markets to enable the energy transition was one of the key findings of one of the largest studies ever conducted among the global energy sector C-suite. This will mean finding ways to reduce the barriers and uncertainties that prevent money from flowing into the projects and technologies that will transform the energy system. It will also mean fostering greater collaboration and alignment among key players in the energy space.

stocksInterestingly, the study found that insufficient access to finance was not considered the primary cause of the current global energy crisis. In fact, capital was seen to be available — but not being unlocked. Why is that? The answer lies in the differing risk profiles of energy transition investments around the world. These risks manifest in multiple ways, including uncertainties relating to project planning, public education, stakeholder engagement, permitting, approvals, policy at national and local levels, funding and incentives, technology availability, and supply chains.

These risks need to be addressed to create more appealing investment opportunities for both public and private sector funders. This will require smart policy and regulatory frameworks that drive returns from long-term investment into energy infrastructure. It will also require investors to recognize that resilient energy infrastructure is more than an ESG play — it is a smart investment in the context of doing business in the 21st century.

Make de-risking investment profiles a number one priority

According to the study, 80 percent of respondents believe the lack of capital being deployed to accelerate the transition is the primary barrier to building the infrastructure required to improve energy security. At the same time, investors are looking for opportunities to invest in infrastructure that meets ESG and sustainability criteria. This suggests an imbalance between the supply and demand of capital for energy transition projects.

How can we close the gap?

One way is to link investors directly to energy companies. Not only would this enable true collaboration and non-traditional partnerships, but it would change the way project financing is conceived and structured — ultimately aiding in potentially satisfying the risk appetite of latent but hugely influential investors, such as pension funds. The current mismatch of investor appetite and investable projects reveals a need for improving risk profiles, as well as a mindset shift towards how we bring investment and developer stakeholders together for mutual benefit. The circular dilemma remains: one sector is looking for capital to undertake projects within their skill to deploy, while another sector wonders where the investable projects are.

This conflict is being played out around the world; promising project announcements are made, only to be followed by slow progress (or no action at all). This inertia results when risks are compounded and poorly understood. To encourage collaboration between project developers and investors with an ESG focus, more attractive investment opportunities can be created by pulling several levers: public and private investment strategies, green bonds and other sustainable finance instruments, and innovative financing models such as impact investing.

sunset

Expedite permitting to speed the adoption of new technologies

Another effective strategy to de-risk investment profiles is found in leveraging new technologies and approaches that reduce costs, increase efficiency, and enhance the reliability of energy supply. Research shows that 62 percent of respondents indicated a moderate or significant increase in investment in new and transitional technologies respectively, highlighting the growing interest in innovative solutions to drive the energy transition forward.

Hydrogen, carbon capture and storage, large-scale energy storage, and smart grids are some of the emerging technologies identified by survey respondents as having the greatest potential to transform the energy system and create new investment opportunities. However, these technologies face challenges such as long lag times between conception and implementation. 

If the regulatory environment makes sense, then policy uncertainty is reduced, and the all-important permitting pathways are well understood and can be navigated. Currently, the lack of clear, timely, and fit-for-purpose permitting is a major roadblock to the energy transition. To truly unleash the potential of transitional technologies requires the acceleration of regulatory systems that better respond to the nuance and complexity of such technologies (rather than the current one-size-fits all approach). In addition, permitting processes must also be expedited to dramatically decrease the period between innovation, commercialization, and implementation. One of the key elements of faster permitting is effective consultation with stakeholders and engagement with communities where these projects will be housed for decades. This is a highly complex area that requires both technical and communication skills.

The power of collaboration, consistency, and systems thinking

The report also reveals the need for greater collaboration among companies in the energy space to build a more resilient system. The report shows that, in achieving net zero, there is a near-equal split between those increasing investment (47 percent of respondents), and those decreasing investment (39 percent of respondents). This illustrates the complexity and diversity of the system around the world. A more resilient system will require all its components – goals and actions – to be aligned towards a common outcome.

Another way to de-risk the energy transition is to establish consistent, transparent, and supportive policy frameworks that encourage investment and drive technological innovation. The energy transition depends on policy to guide its direction and speed by affecting how investors feel and how the markets behave. However, inconsistent or inadequate policy can also be a source of uncertainty and instability. For example, shifting political priorities, conflicting international standards, and the lack of market-based mechanisms can hinder the deployment of sustainable technologies, resulting in a reluctance to commit resources to long-term projects.

electric little car

Variations in country-to-country deployment creates disparities in energy transition progress. For instance, the 2022 Inflation Reduction Act in the US has posed challenges for the rest of the world, by potentially channeling energy transition investment away from other markets and into the US. This highlights the need for a globally unified approach to energy policy that balances various national interests while addressing a global problem.

To facilitate the energy transition, it is imperative to establish stable, cohesive, and forward-looking policies that align with global goals and standards. By harmonizing international standards, and providing clear and consistent signals, governments and policymakers can generate investor confidence, helping to foster a robust energy ecosystem that propels the sector forward.

Furthermore, substantive and far-reaching discussions at international events like the United Nations Conference of the Parties (COP), are essential to facilitate this global alignment. These events provide an opportunity to de-risk the energy transition through consistent policy that enables countries to work together, ensuring that the global community can tackle the challenges and opportunities of the energy transition as a united front.

Keeping net-zero ambitions on track

Despite the challenges faced by the energy sector, the latest research reveals a key positive: 91 percent of energy leaders surveyed are working towards achieving net zero. This demonstrates a strong commitment to the transition and clear recognition of its importance. It also emphasizes the need to accelerate our efforts, streamline processes, and reduce barriers to realizing net-zero ambitions — and further underscores the need to de-risk energy transition investment by removing uncertainties.

The solution is collaborating and harmonizing our goals with the main players in the energy sector across the private and public sectors, while establishing consistent, transparent, and supportive policy frameworks that encourage investment and drive technological innovation.

These tasks, while daunting, are achievable. They require vision, leadership, and action from all stakeholders involved. By adopting a new mindset about how we participate in the energy system and what our obligations are, we can stimulate the rapid progress needed on the road to net zero.

 

Dr. Tej Gidda (Ph.D., M.Sc., BSc Eng) is an educator and engineer with over 20 years of experience in the energy and environmental fields. As GHD Global Leader – Future Energy, Tej is passionate about moving society along the path towards a future of secure, reliable, and affordable low-carbon energy. His focus is on helping public and private sector clients set and deliver on decarbonization goals in order to achieve long-lasting positive change for customers, communities, and the climate. Tej enjoys fostering the next generation of clean energy champions as an Adjunct Professor at the University of Waterloo Department of Civil and Environmental Engineering.

GHD | www.ghd.com

Dr. Tej Gidda

Wind Sep 15, 2023
6 min read
Lessons Learned: The first case of heavy maintenance on floating wind

The Kincardine floating wind farm, located off the east coast of Scotland, was a landmark development: the first commercial-scale project of its kind in the UK sector. Therefore, it has been closely watched by the industry throughout its installation. With two of the turbines now having gone through heavy maintenance, it has also provided valuable lessons into the O&M processes of floating wind projects. 

In late May, the second floating wind turbine from the five-turbine development arrived in the port of Massvlakte, Rotterdam, for maintenance. An Anchor Handling Tug Supply (AHTS)

vessel was used to deliver the KIN-02 turbine two weeks after a Platform Supply Vessel (PSV) and AHTS had worked to disconnect the turbine from the wind farm site. The towing vessel became the third vessel used in the operation.

This is not the first turbine disconnected from the site and towed for maintenance. In the summer of 2022, KIN-03 became the world’s first-ever floating wind turbine that required heavy maintenance (i.e. being disconnected and towed for repair). It was also towed from Scotland to Massvlakte. 

Each of these operations has provided valuable lessons for the ever-watchful industry in how to navigate the complexities of heavy maintenance in floating wind as the market segment grows. 

floating yellow

The heavy maintenance process

When one of Kincardine’s five floating 9.5 MW turbines (KIN-03) suffered a technical failure in May 2022, a major technical component needed to be replaced. The heavy maintenance strategy selected by the developer and the offshore contractors consisted in disconnecting and towing the turbine and its floater to Rotterdam for maintenance, followed by a return tow and re-connection. All of the infrastructure, such as crane and tower access, remained at the quay following the construction phase. (Note, the following analysis only covers KIN-03, as details of the second turbine operation are not yet available). 

Comparing the net vessel days for both the maintenance and the installation campaigns at this project highlights how using a dedicated marine spread can positively impact operations. 

For this first-ever operation, a total of 17.2 net vessel days were required during turbine reconnection—only a slight increase on the 14.6 net vessel days that were required for the first hook-up operation performed during the initial installation in 2021. However, it exceeds the average of eight net vessel days during installation. The marine spread used in the heavy maintenance operation differed from that used during installation. Due to this, it did not benefit from the learning curve and experience gained throughout the initial installation, which ultimately led to the lower average vessel days.

The array cable re-connection operation encountered a similar effect. The process was performed by one AHTS that spent 10 net vessel days on the operation. This compares to the installation campaign, where the array cable second-end pull-in lasted a maximum of 23.7 hours using a cable layer.

Overall, the turbine shutdown duration can be broken up as 14 days at the quay for maintenance, 52 days from turbine disconnection to turbine reconnection, and 94 days from disconnection to the end of post-reconnection activities. 

offshore

What developers should keep in mind for heavy maintenance operations

This analysis has uncovered two main lessons developers should consider when planning a floating wind project: the need to identify an appropriate O&M port, and to guarantee that a secure fleet is available. ‍

  • Identification of the O&M port

Floating wind O&M operations require a port with both sufficient room and a deep-water quay. The port must also be equipped with a heavy crane with sufficient tip height to accommodate large floaters and reach turbine elevation. Distance to the wind farm should also be taken into account, as shorter distances will reduce towing time and, therefore, minimize transit and non-productive turbine time. 

During the heavy maintenance period for KIN-03 and KIN-02, the selected quay (which had also been utilized in the initial installation phase of the wind farm project), was already busy as a marshalling area for other North Sea projects. This complicated the schedule significantly, as the availability of the quay and its facilities had to be navigated alongside these other projects. This highlights the importance of abundant quay availability both for installation (long-term planning) and maintenance that may be needed on short notice. ‍

  • A secure fleet

At the time of the first turbine’s maintenance program (June 2022), the North Sea AHTS market was in an exceptional situation: the largest bollard pull AHTS units contracted at over $200,000 a day, the highest rate in over a decade. 

During this time, the spot market was close to selling out due to medium-term commitments, alongside the demand for high bollard pull vessels for the installation phase at a Norwegian floating wind farm project. The Norwegian project required the use of four AHTS above a 200t bollard pull. With spot rates ranging from $63,000 to $210,000 for the vessels contracted for Kincardine’s maintenance, the total cost of the marine spread used in the first repair campaign was more than $4 million.

Developers should therefore consider the need to structure maintenance contracts with AHTS companies, either through frame agreements or long-term charters, to decrease their exposure to spot market day rates as the market tightens in the future.

yellow and blue

While these lessons are relevant for floating wind developers now, new players are looking towards alternative heavy O&M maintenance options for the future. Two crane concepts are especially relevant in this instance. The first method is for a crane to be included in the turbine nacelle to be able to directly lift the component which requires repair from the floater, as is currently seen on onshore turbines. This method is already employed in onshore turbines and could be applicable for offshore. The second method is self-elevating cranes with several such solutions already in development.

The heavy maintenance operations conducted on floating turbines at the Kincardine wind farm have provided invaluable insights for industry players, especially developers. The complex process of disconnecting and towing turbines for repairs highlights the need for meticulous planning and exploration of alternative maintenance strategies, some of which are already in the pipeline. As the industry evolves, careful consideration of ports, and securing fleet contracts, will be crucial in driving efficient and cost-effective O&M practices for the floating wind market. 

 

Sarah McLean is Market Research Analyst at Spinergie, a maritime technology company specializing in emission, vessel performance, and operation optimization.

Spinergie | www.spinergie.com

Sarah Mclean

Alternative Energies Jul 15, 2023
7 min read
Choosing the Right Partner Mitigates Project Risk

According to the Energy Information Administration (EIA), developers plan to add 54.5 gigawatts (GW) of new utility-scale electric generating capacity to the U.S. power grid in 2023. More than half of this capacity will be solar. Wind power and battery storage are expected to account for roughly 11 percent and 17 percent, respectively.

A large percentage of new installations are being developed in areas that are prone to extreme weather events and natural disasters (e.g., Texas and California), including high wind, tornadoes, hail, flooding, earthquakes, wildfires, etc. With the frequency and severity of many of these events increasing, project developers, asset owners, and tax equity partners are under growing pressure to better understand and mitigate risk.

chart

Figure 1. The history of billion-dollar disasters in the United States each year from 1980 to 2022 (source: NOAA)

In terms of loss prevention, a Catastrophe (CAT) Modeling Study is the first step to understanding the exposure and potential financial loss from natural hazards or extreme weather events. CAT studies form the foundation for wider risk management strategies, and have significant implications for insurance costs and coverage. 

Despite their importance, developers often view these studies as little more than a formality required for project financing. As a result, they are often conducted late in the development cycle, typically after a site has been selected. However, a strong case can be made for engaging early with an independent third party to perform a more rigorous site-specific technical assessment. Doing so can provide several advantages over traditional assessments conducted by insurance brokerage affiliates, who may not possess the specialty expertise or technical understanding needed to properly apply models or interpret the results they generate. One notable advantage of early-stage catastrophe studies is to help ensure that the range of insurance costs, which can vary from year to year with market forces, are adequately incorporated into the project financial projections. 

The evolving threat of natural disasters

Over the past decade, the financial impact of natural hazard events globally has been almost three trillion dollars. In the U.S. alone, the 10-year average annual cost of natural disaster events exceeding $1 billion increased more than fourfold between the 1980s ($18.4 billion) and the 2010s ($84.5 billion).

forest fire

Investors, insurers, and financiers of renewable projects have taken notice of this trend, and are subsequently adapting their behavior and standards accordingly. In the solar market, for example, insurance premiums increased roughly four-fold from 2019 to 2021. The impetus for this increase can largely be traced back to a severe storm in Texas in 2019, which resulted in an $80 million loss on 13,000 solar panels that were damaged by hail.  

The event awakened the industry to the hazards severe storms present, particularly when it comes to large-scale solar arrays. Since then, the impact of convective weather on existing and planned installations has been more thoroughly evaluated during the underwriting process. However, far less attention has been given to the potential for other natural disasters; events like floods and earthquakes have not yet resulted in large losses and/or claims on renewable projects (including wind farms). The extraordinary and widespread effect of the recent Canadian wildfires may alter this behavior moving forward.

A thorough assessment, starting with a CAT study, is key to quantifying the probability of their occurrence — and estimating potential losses — so that appropriate measures can be taken to mitigate risk. 

All models are not created equal

Industrywide, certain misconceptions persist around the use of CAT models to estimate losses from an extreme weather event or natural disaster. 

submerged cars

Often, the perception is that risk assessors only need a handful of model inputs to arrive at an accurate figure, with the geographic location being the most important variable. While it’s true that many practitioners running models will pre-specify certain project characteristics regardless of the asset’s design (for example, the use of steel moment frames without trackers for all solar arrays in a given region or state), failure to account for even minor details can lead to loss estimates that are off by multiple orders of magnitude. 

The evaluation process has recently become even more complex with the addition of battery energy storage. Relative to standalone solar and wind farms, very little real-world experience and data on the impact of extreme weather events has been accrued on these large-scale storage installations. Such projects require an even greater level of granularity to help ensure that all risks are identified and addressed. 

Even when the most advanced modeling software tools are used (which allow for thousands of lines of inputs), there is still a great deal that is subject to interpretation. If the practitioner does not possess the expertise or technical ability needed to understand the model, the margin for error can increase substantially. Ultimately, this can lead to overpaying for insurance. Worse, you may end up with a policy with insufficient coverage. In both cases, the profitability of the asset is impacted. 

Supplementing CAT studies

In certain instances, it may be necessary to supplement CAT models with an even more detailed analysis of the individual property, equipment, policies, and procedures. In this way, an unbundled risk assessment can be developed that is tailored to the project. Supplemental information (site-specific wind speed studies and hydrological studies, structural assessment, flood maps, etc.) can be considered to adjust vulnerability models.

This provides an added layer of assurance that goes beyond the pre-defined asset descriptions in the software used by traditional studies or assessments. By leveraging expert elicitations, onsite investigations, and rigorous engineering-based methods, it is possible to discretely evaluate asset-specific components as part of the typical financial loss estimate study: this includes Normal Expected Loss (NEL), also known as Scenario Expected Loss (SEL); Probable Maximum Loss (PML), also known as Scenario Upper Loss (SUL); and Probabilistic Loss (PL). 

Understanding the specific vulnerabilities and consequences can afford project stakeholders unique insights into quantifying and prioritizing risks, as well as identifying proper mitigation recommendations. 

Every project is unique

The increasing frequency and severity of natural disasters and extreme weather events globally is placing an added burden on the renewable industry, especially when it comes to project risk assessment and mitigation. Insurers have signaled that insurance may no longer be the main basis for transferring risk; traditional risk management, as well as site and technology selection, must be considered by developers, purchasers, and financiers. 

As one of the first steps in understanding exposure and the potential capital loss from a given event, CAT studies are becoming an increasingly important piece of the risk management puzzle. Developers should treat them as such by engaging early in the project lifecycle with an independent third-party practitioner with the specialty knowledge, tools, and expertise to properly interpret models and quantify risk. 

Hazards and potential losses can vary significantly depending on the project design and the specific location. Every asset should be evaluated rigorously and thoroughly to minimize the margin for error, and maximize profitability over its life.

 

Chris LeBoeuf Chris LeBoeuf is Global Head of the Extreme Loads and Structural Risk division of ABS Group, based in San Antonio, Texas. He leads a team of more than 60 engineers and scientists in the US, UK, and Singapore, specializing in management of risks to structures and equipment related to extreme loading events, including wind, flood, seismic and blast. Chris has more than 20 years of professional experience as an engineering consultant, and is a recognized expert in the study of blast effects and blast analysis, as well as design of buildings. He holds a Bachelor of Science in Civil Engineering from The University of Texas at San Antonio, and is a registered Professional Engineer in 12 states.

ABS Group | www.abs-group.com

 

 

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