Power Factors, a renewable energy-enabling software solutions provider, announced that it is acquiring Inaccess, a provider of integrated mission critical software and hardware solutions for renewable energy projects, as well as battery energy storage systems (BESS), and virtual power plants (VPP), pending regulatory approval.
According to Power Factors, the acquisition was made to create a singular offering that could provide performance-based insights into asset controls, while also enabling easier integration of BESS systems into new and existing renewable energy projects. The acquisition of Inaccess also adds SCADA, power plant and battery control, and energy marketing offerings to Power Factors’ platform. Once finalized, the deal will expand Power Factors’ customer asset management portfolio to nearly 200 GW across more than 300 customers.
“The renewables business is no longer just about minimizing levelized cost of energy, it is also about maximizing revenue by making smart data-driven decisions in real-time, and by enabling income stacking from multiple services on existing or new operating assets,” said Christos Georgopoulos, co-founder and CEO of Inaccess. “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.”
In April, utility-scale renewable developer Vesper Energy selected Power Factors’ BluePoint, a commercial asset management solution, to manage a portfolio of Vesper 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.
According to Vesper, the decision to use BluePoint is a preemptive one, as the company plans on adding a sizeable portfolio of assets, 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 as each one moves into operation.
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