Inaccess and Power Factors are combining to form a comprehensive digital tools company needed to effectively manage large portfolios of renewables with Power Factors’ asset performance management solutions and Inaccess’ SCADA, power plant and battery control, and market trading offerings.
“The vision of linking plant insights to trading and real-time controls is among the most exciting area of the renewables market today. Open, smart and autonomous tightly integrated tools will be required with the ever-increasing penetration of renewables onto the grid,” states Gary Meyers, CEO of Power Factors. “The combination of Power Factors and Inaccess solutions will be transformational for the renewable energy industry. We welcome our new colleagues as we join forces and collaborate to drive the renewable energy transition.”
Power Factors will increase its customer asset management portfolio by nearly 200 GW after the transaction closes. It will serve more than 300 customers around the world.
“The renewables business is no longer just about minimizing levelized cost of energy, but also about maximizing revenue by making smart data-driven decisions in real-time and enabling income stacking from multiple services on existing or new operating assets,” says Christos Georgopoulos, co-founder and CEO of Inaccess. “Such goals require a broad and deep technical stack along with the platform capacity and scale that serves 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.”
“We’re investing deeply in enabling our customers to drive digitalization efforts to better integrate large mixed renewable energy portfolios into the grid with direct market access,” adds Jonas Corné, chief strategy officer at Power Factors. We are excited about what the integration of Power Factors and the remarkable team of Inaccess will mean to our customers and the renewable energy industry globally.”