Inaccess is a trusted technology and solutions provider to global utilities, leading renewable energy developers, investors, and independent power producers. The combination of Power Factors’ leading asset performance management solutions with Inaccess’ SCADA, power plant and battery control, and market trading offerings is aimed at supporting the transition of the global renewables energy market from a subsidised and largely static environment to a dynamic, market-based environment.
Linking market and performance-based insights to assets controls will become a ‘must-have’ for the future renewables market. Additionally, the accelerated adoption of utility-scale storage solutions is enabling new revenue sources for owners of renewable plants. The combination of two powerful platforms, with Power Factors’ leading asset performance management solutions and Inaccess’ best-in-class SCADA, power plant and battery control, and energy marketing offerings, will unlock these new services, along with new potential revenue streams.
“The vision of linking plant insights to trading and real-time controls is among the most exciting area of the renewables market today” said Gary Meyers, CEO of Power Factors. “Open, smart, and autonomous tightly integrated tools will be required with the ever-increasing penetration of renewables onto the grid” said “The combination of Power Factors and Inaccess solutions will be transformational for the renewable energy industry. We welcome our new colleagues as we join forces and collaborate to drive the renewable energy transition.”
Christos Georgopoulos, co-founder and CEO of Inaccess, added that the renewables business is no longer just about minimising levelised cost of energy (LCOE), 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. 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.
“Achieving global scale is one of the many reasons we are excited to join forces with Power Factors” Mr Georgopoulos said.
When the transaction is closed, Power Factors will expand its customer asset management portfolio to nearly 200 Gigawatts, serving more than 300 customers worldwide, positioning Power Factors as one of the world’s largest renewable energy software companies.
The transaction is subject to customary closing conditions including regulatory approvals and is expected close within 30 days.
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