SolarPower Europe has launched Version 2.0 of the Asset Management Best Practice Guidelines. Building on a successful Version 1.0 published in December 2019, this update incorporates even more industry experience, delivering a forward-looking vision for the solar Asset Management segment.
While Operation and Maintenance (O&M) service providers take care of the solar power plant on a technical level, Asset Managers are responsible for the commercial and financial management of a solar investment, and the supervision and control of technical activities. They manage a company or portfolio rather than a power plant, often across different geographies, dealing with a variety of regulatory frameworks and business models. Asset management is also defined as the coordinated activities of an organisation to generate value from its assets (ISO 55000).
With the professionalisation and globalisation of solar investors and investment portfolios, service quality expectations have risen steadily, putting increasing requirements on Asset Managers who are expected to continuously improve the return on investment via various processes, including revenue optimisation, cost reduction, financial restructuring, contractual renegotiation, and technology adaptation. To achieve this, Asset Managers are expected to transition from simple tools, such as self-made spreadsheets, to advanced digital Asset Management Platforms, which enable efficient and effective management of wide and diverse solar portfolios.
SolarPower Europe published Version 1.0 of the Asset Management Best Practice Guidelines to support the solar industry in achieving these goals. Version 2.0 aims to build on the success of the first edition by incorporating even more industry experience from two dozen leading solar experts, including Asset Managers as well as O&M providers, asset owners, technical advisors, digital solutions providers and more. Over the course of the past year, existing chapters of the first version have been extensively discussed, enhanced, and refined in the Lifecycle Quality Workstream. Version 2.0 features a new, dedicated chapter on risk management in the operational phase, and a useful skills matrix for Asset Managers in the annex. Reflecting the latest market and technology trends, we have added several new sections in the existing chapters covering topics such as lifecycle best practices, value-added services, revamping & repowering, management of unsubsidised projects, challenges in multi- jurisdictional and global portfolios, data format and aggregation, and digital twins.
Picture (C) Solar First, Inc