Enverus, a company specialized in energy-focused software-as-a-service products, has announced that it has acquired RatedPower, a Spanish startup that helps you plan, design and optimize solar power plants. Terms of the deal remain undisclosed.
Enverus works with all sorts of customers in the energy ecosystem focused both on renewables and oil and gas. In particular, the company has partnered with 98% of U.S. energy producers and 35,000 suppliers to offer real-time access to analytics. With these insights, energy-focused companies can benchmark cost and revenue more easily before committing to a new project.
Customers include not only power, utilities and infrastructure companies, but also financial institutions working on energy projects. They can use Enverus to allocate capital based on production and distribution optimization.
With RatedPower, Enverus is doubling down on renewable energy development as RatedPower focuses on utility-scale solar photovoltaic plants exclusively.
“Much like our start decades ago, RatedPower is a trailblazer in digitalization, automation and efficiency, but in the rapidly growing solar market. Our common denominator is truth in data, strategic planning and optimizing efficiencies,” Enverus CEO Jeff Hughes said in a statement. “As of today, we have taken a major leap forward in adding to our solar planning capabilities enabling us to strategically advise customers where and how to design their plants to maximize production.”
Engineers use RatedPower’s software platform — pvDesign — to study, analyze and design new projects for photovoltaic plants. Overall, RatedPower has been used to develop more than 43 GW in solar power projects across 20,000 projects in 160 countries.
For instance, RatedPower can scan many different layout configurations and tell you which one will maximize the profitability and value of this solar plant project based on topography, meteorological data, horizon profile, and so on.
“We were born with the vision of digitalizing the renewable energy industry and making solar the world’s main energy source to accelerate the energy transition,” RatedPower CEO Andrea Barber said in a statement. “Our mission aligns perfectly with Enverus and our combined strengths will place us in a privileged position to reach that vision while powering the new, global energy economy.”