RIL Acquisition of SenseHawk; Why solar asset management is a big business avenue
Reliance has recently acquired a US based solar asset management company stake of 79.4% SenseHawk for $32 million. The acquisition process will be completed by the end of this year. by the end of this year. While Reliance group is already developing its solar assets and has the data capability, the acquisition of SenseHawk is going to be a big business potential for Reliance group’s solar services offering using its networking capabilities.
Though it is said about solar plants they are maintenance free and as long as sun is shining, the solar panels will keep producing electricity. However, the large-scale solar deployment requires not only operational performance but also financial performance monitoring of the solar assets. A good asset management platform provides the asset owner with information about the operational, technical and financial risks, including the regulatory compliances. The asset manager has to monitor hundreds of solar plants and has to take care of all these four aspects of asse management. A good asset management software needs to provide the asset-centric information which includes the monitoring the losses, opportunities for improving efficiency, database management, and finally, every information needs to be put in the form of LCOE. Apart from the SenseHawk, the other major players in solar asset management include the BluePoint (United States), Arbox (Israel), ACTIS (United Kingdom), Heliolytics (Canada), Lyra Solar (United States), Schneider Electric (France), PVComplete (United States), Pylon (United States) and BlueSol (Brazil).