US ‘Solar Module Super League’ (SMSL) member First Solar has sold a predictive energy modelling tool called PlantPredict to solar digital solutions start-up Terabase Energy for an undisclosed amount.
PlantPredict is a predictive solar energy modelling tool that First Solar developed for utility-scale PV systems. It reduces energy delivery uncertainty by generating field-verified energy predictions and has been used by thousands of global users over the past decade. The system has also been used in the financial modelling of solar power plants.
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Meanwhile, Terabase is developing a digital, automation, and smart device system to drive down solar power prices below $0.01/kWh by 2025. It is currently used by more than 400 engineering, procurement, and construction (EPC) firms, developers, and independent power producers (IPPs) in 28 countries.
“The future of performance modelling is tighter integration with software-based design, cost estimating and financial modelling and it’s important for Terabase to have its own cloud-based performance modelling solution,” said Matt Campbell, Terabase CEO.
The transaction is expected to take place in October this year, when the PlantPredict team will join Terabase, which has offices in California, US and Melbourne, Australia.
Earlier this year, Terabase acquired operational technology provider REPlantSolutions.