Goldman Sachs goes with AlsoEnergy for control and monitoring of its solar portfolio
Portfolio aggregation is a growing trend in the renewable energy industry. Years of growth and consolidation have yielded larger, more diverse fleets for almost all industry players. As the industry matures, companies are looking for ways to streamline management of complex portfolios to drive down costs, improve performance, and increase profitability.
Goldman Sachs Renewable Power (GSRP) selected the PowerTrack Platform from AlsoEnergy to provide a single, comprehensive control and monitoring solution for their growing fleet of solar PV installations. Goldman Sachs Renewable Power, which is managed by the Renewable Power Group of Goldman Sachs Asset Management’s Credit Alternatives team, is focused on owning and operating renewable power assets. To date GSRP has completed acquisitions of more than 950 megawatts (MWdc) of solar energy projects. AlsoEnergy monitors over 30 gigawatts (GW) of power production at more than 200,000 sites worldwide.
Portfolio aggregation reduces costs by streamlining workflows and optimizing resource allocation. Standardizing on one enterprise-level application can improve data management and record keeping, enabling more insightful reporting and understanding of operations to establish best practices. Aggregation also promotes better synchronization between field workers, operations centers, and the central office.
PowerTrack is a comprehensive integrated platform to manage energy portfolios, providing a single software system to administer SCADA functionality, asset management, performance analytics and diagnostics, report generation, and O&M labor and inventory. The PowerTrack Platform may be integrated with client office systems including third party software for CMMS, ERP, and CRM.
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