With the emerging focus on environmental, social, and governance (ESG) and carbon neutrality, the energy industry is at the crossroads of a critical transformation. The onset of electrification, and improvements in energy storage have all contributed to a rise in utility-scale renewable development activity. Both clean-energy companies and integrated-energy companies are looking to add greener assets to their portfolios.
The energy transition will continue to increase in importance as investors prioritize environmental, social and governance (ESG) factors. Governments worldwide are providing financial incentives in further support of large-scale wind and solar developments.
The global Covid-19 pandemic disrupted renewables projects in 2020, but more recently the pace of development has resumed. New financing models are bringing some flexibility to developers in project development. Renewables is becoming an attractive energy source as prices drop and storage capacity improves their reliability. Solar plus storage is a prime example, with falling costs and greater storage capacity making the intermittent nature of solar (and wind) less of an obstacle to widespread reliance on renewables.
A small number of large developers dominate the large-scale development market, but there are thousands of small developers, particularly at the residential level. These have driven an increase not only in the number of developers of renewable assets, but also in the number of projects being managed by each developer. Renewable Developers typically have multiple projects across geographic regions and asset types at any given time. Entire project phases or certain tasks can be handled by internal employees or outsourced to various third parties such as brokers, agents, and construction and project management companies. Projects can further be bought and sold at any time during the development cycle to other developers, electric companies, or operators.
While individual project sizes vary, for many, the bulk of key project information is being managed through excel spreadsheets and scanned paper documents or in-house solutions that currently require an inefficient use of resources causing project delays, increased costs, or even project cancellations. Further, increases in volume and the potential to acquire and dispose of assets at various phases cannot easily be accommodated without a more robust software solution.
Each project has many stakeholders that require effective communication and document exchange methods and tracking. Often, interactions between the various parties and owners are scattered by phone, in-person, via a delivery service, or by email. Communications are inconsistently tracked and there can be delays in information gathered in the field. Finally, throughout the project life cycle, a key priority is ensuring that all financial and non-financial obligations, key tasks and dates, parcel owners are tracked, managed, and reported consistently across projects and assets.
Tracking the development process from land acquisition to construction is convoluted and leaves a large margin of error. The process takes several years which could be made more efficient with a proper solution, resulting in cost savings for the developer. Developers are measuring the ROI for investing in a software solution in terms of cost reductions, streamlined workflows, ability to manage more than one project in the development phase at one time, and enhanced collaboration with all stakeholders (internal and external).
At some threshold, it is not possible to scale without software and the value of implementing an enterprise-solution outweighs the benefit of adding more resources to your team.
We offer end-to-end tools that solve your most challenging problems:
Land Parcel Management
- Real-time visibility into project health and parcel status throughout the development process, enabling task assignment, and stakeholder collaboration inside and outside of your company.
- Fast-acting workflows for payment approvals, royalty payment calculations and rental escalations that work together.
- Easily track and stay ahead of your tasks at different stages of the project, ensuring compliance, renewals, and reviews.
- Accelerate productivity and efficiency with intelligent classification and search capabilities for all of your documents.
- Stay connected securely online.
- Simplify the tedious acquisition and siting process including import tools for parcel data.
- GIS tools provide a spatial view of project and parcel status.
Looking to transition to Renewable Energy? It’s easier than you think! Let us show you how we can tailor a program for your company.