Paschal Phelan - CEO of the Phelan Energy Group has today announced the appointment of Covali - an independent Irish software analytics group - to provide business and data analytics for its solar projects in South Africa and around the world.
The Phelan Energy Group is currently delivering the Solar Capital De Aar Northern Cape project which will generate enough electricity to power approximately 35 000 South African homes every year, with the intention of delivering the first 75MW of solar energy generated electricity into Eskom’s power grid. The company’s 94.5MW first phase project is the largest solar farm in South Africa and with the completion of the second phase in 2016, totaling a combined 200MW, will make this the largest in the Southern Hemisphere.
''The volume of data generated by this project is phenomenal and the ability to respond to identify and react to underlying trends in this data is key to driving operational efficiencies'', said Paschal Phelan - CEO of the Phelan Energy Group, ''and we are pleased to appoint Covali for this important project. The application of analytic technologies will also be considered in areas such as asset management, outage restoration, and theft and consumer segmentation.
Covali is a well known provider of Data Analytics and Business Intelligence solutions to a wide variety of industry types particularly in large data volume sectors such as Insurance and Health and it is now applying this experience to the solar industry.
Covali will deliver project analytics and risk intelligence through the deployment of an analytics platform for all performing solar assets with the Group. This will provide essential foundation for research efficiency and investment due diligence.
''The shift toward analytics is part of a broader trend around the use of digital technologies (including mobility, cloud, social media) which has potential to drive differentiated capabilities and significant O&M reductions'' said Noel Shannon, managing Director of the Covali Group.
Our information services provide data gap solutions and eliminate the time-consuming learning curve required to assess solar project risk.
Covali provides project analysis and produces data models that can help with equity at risk questions with actual vs. expected energy performance analysis. We can determine if a new system is likely to underperform or outperform expectations, allowing either more aggressive bidding on a project or mitigating portfolio performance risk. Topics covered include
PV System Performance
- Energy yields, system reliability
- Relative performance: Comparative portfolio performance relative to industry
- Panel performance comparative analysis
- Inverter performance comparative analysis
- Custom project/portfolio asset analysis
Covali offers a custom data modeling platform for institutional investors and industry participants seeking system-specific or portfolio-specific performance analysis, and also provides comprehensive collateral risk analysis on current and future solar deals under offer.
- Cash Flow Assumptions - Value-At-Risk calculation
- Credit Underwriting analysis
- Panel Performance Risk - Panel quality
- Inverter Performance Risk - Inverter reliability
About the Solar Capital De Aar Northern Cape project
Apart from its acquisition of the 2,300 hectare farm on the outskirts of De Aar, Solar Capital has purchased a 2 000 sqm factory on a 4 hectare industrial site in the center of the town as well as having purchased, acquired and upgraded the local 45 bedroom Hotel De Aar. These acquisitions have been made to ensure that job creation and social development take place and that Solar Capital enriches the community of De Aar
About the Covali Group
Covali is an independent Business ntelligence and Data Analytics company specialising in the provision of custom built dashboards and database solutions for analysing data and delivering the results through an intuitive and easy to use visual interface. Recent projects have included delivering patient analysis for the NHS and risk analysis in the Insurance market.