US-based renewable energy software provider Power Factors is acquiring solar and battery storage monitoring firm Inaccess, taking its asset management portfolio to nearly 200GW.
Inaccess is the maker of Unity, a supervisory control and data acquisition (SCADA) system that maximises the energy production of renewables portfolios by spotting and evaluating cases of underperformance, according to the company.
Power Factors said the combination of its asset performance management solutions with Inaccess’s SCADA, power plant and battery control, and energy marketing offerings will unlock new potential revenue streams.
“The renewables business is no longer just about minimising levelised cost of energy, it is also about maximising revenue by making smart data-driven decisions in real-time, and by enabling income stacking from multiple services on existing or new operating assets,” said Christos Georgopoulos, CEO at Inaccess.
“To do this effectively requires a broad and deep technical stack along with the platform capacity and scale to serve the largest energy producers on the planet.”
With a current portfolio of more than 35GW of projects in over 60 countries, Inaccess works with renewables investors and developers, utilities, oil and gas majors, asset managers and EPCs.
Recent months have seen the company secure deals to deploy its Unity system at PV projects from independent power producer Total Eren and Shell.
For Power Factors, the transaction follows its acquisitions last year of software providers Greenbyte and 3megawatt.
“We’re investing deeply in enabling our customers to drive digitalisation efforts to better integrate large mixed renewable energy portfolios into the grid with direct market access,” said Jonas Corné, chief strategy officer at Power Factors.
Another recent deal of note in the solar software space saw energy storage software and services firm Stem Inc acquire PV asset management company AlsoEnergy for US$695 million.