Utility-scale renewable developer Vesper Energy said it selected BluePoint, Power Factors’ commercial asset management solution to manage projects located across the United States. Once all of the projects have been completed and energized, Vesper will then use the software to support financial and commercial management of its operational portfolio.
Power Factors’ BluePoint is an asset management software solution that helps stakeholders manage daily tasks and maximize efficiency at their assets, through controls that include managing project contracts and tasks, setting regulatory and contractual compliances, recording information about the assets, producing automated reports, and invoicing for power purchase agreements, among others.
According to Vesper, the decision to use BluePoint is a preemptive one, as the company shares that its growth trajectory projects a sizeable portfolio of high value assets from stakeholders which Vesper is looking to foster transparency with, and by adopting the software at the start of development, the Vesper team will benefit from a full dataset on the history of each asset in the portfolio moving into operations.
“Compliance and transparency are fundamental pillars of responsible asset management – both throughout the development phase and into long-term operations,” said Robert Jansen, director of asset management at Vesper Energy. “Using BluePoint from day one not only helps us create efficiencies in administrative processes that benefit our stakeholders; it gives us control and ownership of all of our essential data and empowers us to make better-informed decisions as we manage contractual risks and build a high-performing clean energy portfolio.”
In June 2021, Vesper Energy expanded an existing $100 million letter of credit facility to $140 million, a move which was made to allow the company speed development of its 3.5 GW of solar and 2.5 GWh of energy storage pipeline.
Since its start in 2015, Vesper Energy has commercialized more than 680 MW of utility-scale solar projects in the U.S. It plans to start work on two facilities in Ohio and Pennsylvania in early 2022, and has a larger construction program planned for 2023.
Vesper Energy earlier said that its Deer Creek Solar + Storage project signed a 20-year PPA for 50 MW of solar energy and 200 MWh battery storage with Desert Community Energy, a community choice aggregator in Palm Springs, California.
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