Financial forecasting and accurate budgeting are key for wind farm owners. With the wealth of data available in the market, it is arguably easier than ever to have sight of typical industry benchmarks for similar sites. That said, the challenge remains in knowing how to accurately manage operating costs and resources against a site’s performance. Benchmarking against industry standards is all well and good but is meaningless if there is uncertainty about the site’s actual performance.
Understanding the reasons why things may not have gone to financial plan can be an expensive exercise in itself. Knowing why projects have deviated from budget is a complex task, when considered alongside downtime, curtailment and variable wind resource - all of which obscure comparisons against actual performance. This can make spotting and diagnosing performance problems very challenging, and this challenge is faced by all wind farm owners and operators, regardless of wind farm size.
Introducing Performance Tracker
To address this challenge, K2 Management’s expert teams have developed Performance Tracker, enabling key stakeholders to transform their sites’ performance analysis. Using advanced simulation methods, Performance Tracker is uniquely able to determine what a wind farm should have produced in a given month according to independent climate data and project configuration. This includes the impact of variable wind resource, wakes and curtailment, without the need for SCADA data analysis.
For wind farm owners and operators, there is always a need to save time and money. With simple integration, Performance Tracker can be easily added to an operator’s monthly report distribution list to start reconciling site production, wind resource, and losses against budget expectations. Performance Tracker generates clear monthly reports, offering a concise view of actual performance to date, allowing wind farm owners and operators to easily identify any discrepancies, revealing a key starting point for required remediation.
Accurately tracking performance with ease
Performance Tracker is a seamless and accurate asset monitoring service that simplifies operations and supports maximising performance without the need to immediately resort to costly, time-consuming, analysis efforts.
With clear reports, and the reassurance of having K2 Management experts on hand to independently check on your investment and recommend areas of improvement, the service is beneficial for identifying underlying performance changes. This enables the effective targeting of resources, helping to address issues before they escalate.
A partner in financial stability
As all wind experts can appreciate, real insight into asset performance requires actual wind conditions to be accounted for. When equipped with this information, stakeholders can not only compare performance with budget but, more importantly, rule out common causes for falling financially off-track, providing a quick and cost-effective way to find a solution.
Written by Will Jowitt, Principal Specialist & Operational Wind Lead, Analysis Services. Click here to download our brochure:
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