DNV GL’s independent review reveals wind farm assets managed by RES perform 1% better than industry standard
BRISTOL, United Kingdom – 7 June 2019 – DNV GL, the world’s largest independent energy advisory and certification body, has carried out an independent review with Global renewable energy company, RES which demonstrates that the average 40 MW wind farm could see savings that equate to an additional GBP 1 million revenue per year, by making asset operations more efficient.
RES commissioned DNV GL to review a portfolio of 22 wind farms in the UK and France to benchmark performance against industry standard. The results show that RES’ asset management processes and capabilities in the UK and France have resulted in 1% higher availability than the industry standard, the equivalent of an additional GBP 1 million revenue annually. The project represents a major milestone for the global onshore wind industry, particularly in the UK where subsidies for new onshore wind development have seen significant cuts in support, with subsidies from the government totalling a 56 per cent reduction in 2018, compared with 2017.
DNV GL’s Energy Transition Outlook report forecasts that roughly 29% of all global electricity production will come from wind energy by 2050. To make this happen, the pace of development needs to continue to be ambitious and production from existing projects needs to be optimized using accurate data-driven techniques.
Darren Cook, Head of Asset Management, from RES said: “We commissioned the DNV GL report not just to see how we benchmark against the competition, but to understand how we can make more improvements and deliver even lower cost energy to our customers and, ultimately, to the consumer. Everyone at RES has an eye on how we can make assets perform more efficiently for our many customers. It’s pleasing to see that this focus on delivering above expectation and innovation is having significant positive impact for our customers.”
Keir Harman, Renewables Operations Director from DNV GL said: “Our review and findings of RES’ portfolio are a sign of confidence for investors and an endorsement of RES being able to deliver a lower cost of energy for its customers. In fact, our independent review actively demonstrates that RES-managed projects in the UK, Ireland and France are performing measurably higher than the industry standard.
Prajeev Rasiah, Executive Vice President, Northern Europe, Middle East and Africa, DNV GL - Energy, added: “The renewable energy landscape is evolving, going through dramatic growth but also becoming more complex. Long-term price certainty which was previously supported by subsidies is no longer an option. The way projects are structured and how returns on investment are forecast is increasingly critical to help operators gain competitive advantage. Our independent review demonstrates that the performance of wind farms benefits from investment and innovation in operations.”
The 22 wind farms assessed in the UK and France provide a subset of the entire fleet asset managed by RES selected for their use of modern Vestas 2 MW platform and Senvion MM turbines. The evaluation includes assessment of wind farm availability and performance metrics.
RES is the world’s largest independent renewable energy company active in onshore and offshore wind, solar, energy storage and transmission and distribution. At the forefront of the industry for over 35 years, RES has delivered more than 16 GW of renewable energy projects across the globe and supports an operational asset portfolio exceeding 3.5 GW worldwide for a large client base. Understanding the unique needs of corporate clients, RES has secured 1 GW of power purchase agreements (PPAs) enabling access to energy at the lowest cost. RES employs more than 2,000 people and is active in 10 countries.
About DNV GL
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