Time-based availability alone gives asset owners false security
Ultimately, a successful project is all about how much power you deliver to the grid, not how much time of the year your turbines can potentially operate.
Asset owners who focus on turbine availability don't pay enough attention to the turbine performance or interaction with the Balance of Plant and the grid. So, what good is a turbine that produces 'on paper' if the substation is not working?
With new markets drivers such as falling prices, the cost of capital and margins to mention a few, the time has come to use smarter performance indicators, that measure power to the grid.
Examples of these include:
- Production or revenue availability
- Meantime to repair
- Meantime between failures
- Lead time for spare part delivery
- Remote fix rate
- Summarized cost/MWh
- Average power price/MWh.
Some might think that this is stating the obvious but it's all about what makes the most sense for your business case. It's about finding the perfect balance between value, cost and risk combined with a solid understanding of the investment strategy, both long-term and short-term.
7It took almost 50 years to reach a global accumulated capacity of wind energy of 500GW+ and within 10 years from now, that number is expected to exceed 1,000 GW.
This scale of business opens up for new synergies, partnerships, solutions and services to improve asset owners' business cases in ways that were previously unattainable.
To talk more about asset management opportunities, get in touch with us.