Provider of predictive data analytics and engineering expertise to the global wind industry Onyx InSight has opened a new office in Madrid in support of wind farm owners and operators across the Mediterranean (MED) while also providing a strategic conduit to Latin America (LATAM).
Wind farm in Spain.
“Governments across the Mediterranean and Latin America are accelerating their net-zero commitments” said José Morais, Regional Manager for MED and LATAM at Onyx InSight. “But raising capital to support further growth in wind energy requires a strong business case to investors. We are delighted to continue our investment, offering our innovative advanced sensing, software and engineering solutions to the wind sector in MED and LATAM and further afield. We can now provide on-the-ground support helping wind farm owners and operators by monitoring their assets and delivering actionable insights to streamline their operations and maintenance strategies to reduce those costs.”
Established markets across the Mediterranean, such as Spain, have accounted for 10 percent of added capacity across Europe in 2020 with 1.4 GW installed. These markets must continue to add new assets while tackling an increasingly ageing wind fleet. By 2025, AEE forecasts that over 32 GW of installed capacity in Spain will be over 15 years old, making locally-based, versatile service providers with a flexible offering vital to enable effective life-extension and repowering strategies.
Since many leading Independent Power Producers in Mediterranean markets also operate within Latin America, Onyx InSight will use their Madrid hub to support momentum in high-potential markets such as Brazil, Chile, Argentina, and Mexico. Despite the pandemic, these four markets installed over 4.5 GW last year. Wind farm owners and operators in these rapidly expanding but highly-competitive markets are set to benefit from improved access to globally proven predictive maintenance services, helping them increase asset profitability.
These market conditions in MED and LATAM have driven wind farm owners and operators to scrutinise operations and maintenance budgets further in the race to deliver clean energy affordably. Demand for data analytics and engineering to gain vital insights on asset health has increased across the region, as high-quality predictive maintenance can reduce costs by up to 30 percent.
A new base of operations in Madrid will expand the range of engineering-led data analytics services available to the wind sector across the Mediterranean and Latin America, priming those markets for intense global competition. Crucially, a combined suite of hardware, software and consultancy products can be deployed to provide a forensic picture of turbine health to drive profitable operational and strategic decision-making.
Bruce Hall, CEO at Onyx InSight, said that the expansion in Spain and across Southern Europe mirrors the continued growth and value of the wind industry in the region and that the Spanish market is not only significant in its own right but also as home to renewable energy supermajors. The new office will enable the company to bring its next-generation services and solutions to wind markets both established and emerging in order to make wind energy more competitive.