Terabase Energy acquires PlantPredict from First Solar
The solar digital solutions startup Terabase Energy has signed a definitive agreement to acquire PlantPredict from First Solar. The terms of the agreement were not disclosed.
First Solar developed PlantPredict, a sophisticated predictive solar energy modeling tool, for utility-scale PV applications. The tool is easy to use with advanced modeling options and reduces uncertainty of energy delivery with field-verified energy predictions. PlantPredict has been validated by third-party independent engineering firms and peer-reviewed studies and used by thousands of clients around the world over the past decade. Many GW of solar power plants have been financed with the help of this system, demonstrating its accuracy and bankability.
“Adding an industry-leading, bankable, cloud-based performance tool like PlantPredict to our expanding suite of technical solutions makes strategic sense for Terabase,” said Matt Campbell, Terabase CEO. “The future of performance modeling is tighter integration with software-based design, cost estimating and financial modeling and it’s important for Terabase to have its own cloud-based performance modeling solution. PlantPredict is a perfect complement to other solutions we offer and have under development.”
“As we maintain our focus on our advanced module technology, it was important for us to find the right company to integrate PlantPredict into a broader digital energy product portfolio while continuing to raise the bar for solar energy modeling,” said Nick Strevel, vice president, Product Development, First Solar. “PlantPredict users have long enjoyed rapid, highly accurate, and bankable predictions and, looking to the future, can expect to benefit from the platform’s integration into other Terabase offerings.”
Terabase is currently developing a digital, automation, and smart device ecosystem to reduce solar power prices below $0.01 per kWh by 2025. Its proprietary system is used by more than 400 EPC firms, developers, and independent power producers in 28 countries.
The First Solar PlantPredict team will join Terabase following the closing of the transaction, expected to take place in October 2021. This is Terabase’s second acquisition of the year, following its deal to integrate operational technology provider REPlantSolutions earlier this year.
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