enverusa company specializing in energy-focused software-as-a-service products, announced it is acquiring Rated power, a Spanish startup that helps you plan, design and optimize solar power plants. The terms of the deal remain secret.
Enverus works with all kinds of customers in the energy ecosystem focused on both renewable energy sources and oil and gas. Notably, the company partners with 98% of U.S. energy producers and 35,000 suppliers to provide real-time access to analytics. With these insights, energy-focused companies can more easily benchmark costs and revenues before committing to a new project.
Clients include energy, utilities and infrastructure companies, as well as financial institutions working on energy projects. They can use Enverus to allocate capital based on production and distribution optimization.
With RatedPower, Enverus is doubling its renewable energy development as RatedPower focuses solely on utility-scale photovoltaic solar power plants.
“Like our start decades ago, RatedPower is a pioneer in digitization, automation and efficiency, but in the fast-growing solar market. Our common denominator is truth in data, strategic planning and optimizing efficiency,” said Jeff Hughes, CEO of Enverus, in a statement. “As of today, we have taken a major leap forward by expanding our solar planning capabilities, enabling us to strategically advise customers on where and how to design their plants to maximize production.”
Engineers use RatedPower’s software platform — pvDesign — to study, analyze and design new projects for photovoltaic installations. In total, RatedPower has been used to develop more than 43 GW in solar energy projects in 20,000 projects in 160 countries.
For example, RatedPower can scan many different layout configurations and tell you which one will maximize the profitability and value of this solar installation project based on topography, meteorological data, horizon profile, etc.
“We were born with the vision to digitize the renewable energy industry and make solar the world’s leading energy source to accelerate the energy transition,” said Andrea Barber, CEO of RatedPower, in a statement. “Our mission aligns perfectly with Enverus and our combined forces will put us in a privileged position to achieve that vision while driving the new global energy economy.”
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