Vestas and Utopus Insights to pilot energy forecasting solutions for renewable power plants in Australia

MELBOURNE, Australia, March 18, 2019 – With the increasing amount of renewable energy in the
system, grid operators must address the challenge of balancing supply and
demand from intermittent energy generation. One way of meeting this challenge
is to use advanced forecasting tools to provide predictability in renewable
energy generation in order to keep the grid stable.

In support of Vestas’ efforts to provide forward-looking
renewable energy solutions, the Australian
Renewable Energy Agency (ARENA) announced today that Vestas was awarded funding
to develop a new short-term wind energy forecasting solution for Australia. The
funding is part of ARENA’s Advancing Renewables Program.

The solution will allow ARENA to more
accurately forecast energy generation from wind power plants, reduce wind
generators’ dispatch uncertainty, and improve system stability by better anticipating
supply from renewable sources through accurate weather forecasting. Such forecasting
solutions can also benefit power plant operators’ bottom line by reducing financial
penalties for inaccurate forecasts and increase revenue opportunities through making smarter,
data-driven decisions about selling energy into spot markets in countries like
Australia. Being able to better predict energy generation is a
valuable tool in assessing the minute-to-minute value of energy and thus how to
achieve maximum revenue for energy when selling into spot markets.

From both the system and power
plant view, this forecasting solution is both an important stepping stone to a
world where wind and solar energy become the dominant sources of electricity,
and a part of Vestas’ efforts to provide a broad array of renewable energy
solutions that provide benefits to energy systems as well as to customers.

The solution will be developed by Vestas
together with its wholly-owned energy analytics solution provider, Utopus
Insights. The solution will improve upon the Australian Wind Energy Forecasting
System’s (AWEFS) 5-minute forecast and will be deployed and piloted at Infigen
Energy’s Lake Bonney 2 and 3 Wind Farms, two co-located wind farms in South
Australia.

“An
important challenge in wind and solar power is predicting fluctuations in
generation to ensure system stability by balancing the energy supply and demand
in the market,”

explained Peter Cowling, Head of Vestas Australia and New
Zealand.

The Australian Energy Market Operator
(AEMO) is responsible for forecasting electricity generation from wind and
solar farms across Australia. Incorrect supply forecasts or inability of generators
to meet targets can result in power system instability and higher operating
costs. Wind and solar farms are penalised for failing to meet required output
levels, and conversely can be required to curtail generation to match overly
conservative forecasts.

“We
hope to offer a much more advanced forecasting solution that can reduce
generator dispatch uncertainty, lower the operational cost of balancing energy
supply and demand, and limit energy price volatility and regulatory complexity,
 said Cowling. “Our solution will help
deliver sufficient and reliable energy to the market.”

The solution will apply advanced data
science techniques including deep learning to high-resolution wind turbine
SCADA data, granular short-term hyper-local weather forecasts and
meteorological data to deliver greater accuracy in energy forecasts. The
solution will utilise Utopus Insights’ proprietary weather forecasting, coupling
physical and statistical models with an industry-best 1 km² precision. This is a
significant improvement on traditional global weather forecasts, which operate
at coarser temporal resolution and 16 km² spatial resolution.

“While
it’s true that renewable energy is intermittent, with the right digital
intelligence, it is no longer unpredictable. Our solution unlocks the value of renewable
energy as a predictable and reliable source of power,”

said Chandu
Visweswariah, Founding President and CEO at Utopus Insights. “Between our deep experience in energy
analytics, proprietary hyper-local weather modelling, and Vestas’ massive
amount of turbine data, we are using the power of partnership to usher in a new
era of energy digitalisation.”

“From
an energy market standpoint, Australia is leading the world in many ways;
creating an industry-leading product for that market is essential and
differentiating. This product will help with improving the accuracy of power
output forecasts in real time, making renewable energy more competitive against
conventional energy sources and enabling customers to make smarter and more
profitable decisions about the energy they generate,”

said Balakrishnan G.
Iyer, Co-founder and Chief Growth Officer at Utopus Insights.

After the 12-month development and trial
phase, Vestas will share its learnings from the pilot with the energy industry,
focusing on project challenges, learnings, forecast performance and
self-forecast benefits for renewable generators and the broader market.

For
media inquiries, please contact:

Sonu Munshi

Director of Communications, Utopus Insights

sonu.munshi@utopusinsights.com

Tel: +1 480-241-2482


Rebecca Zhang

Marketing manager, Vestas

rezwe@vestas.com

Tel: +61 472842499


The views expressed herein
are not necessarily the views of the Australian Government, and the Australian
Government does not accept responsibility for any information or advice
contained herein.


About
Vestas

Vestas is the energy industry’s global partner on sustainable
energy solutions. We design, manufacture, install, and service wind turbines
across the globe, and with 101 GW of wind turbines in 80 countries, we have
installed more wind power than anyone else. Through our industry-leading smart data capabilities and 86 GW of wind turbines
under service, we use data to interpret, forecast, and exploit wind resources
and deliver best-in-class wind power solutions. Together with our customers,
Vestas’ more than 24,600 employees are bringing the world sustainable energy
solutions to power a bright future. Learn more about Vestas
by visiting our website at www.vestas.com
and following us on our social media channels:

· www.twitter.com/vestas

· www.linkedin.com/company/vestas

· www.facebook.com/vestas

· www.instagram.com/vestas

· www.youtube.com/vestas


About Utopus Insights

Utopus Insights, Inc. is a New
York-based energy analytics provider with deep expertise in the energy
industry. Headquartered in New York, with a regional office in Bengaluru,
India, we deliver customized SaaS solutions that help customers gain digital
awareness and asset foresights to lower costs and unlock untapped revenue. With
a portfolio of 100+ issued or applied patents, we combine domain expertise with
advanced data science and meteorology to offer a suite of innovative digital
products. We have a highly experienced team with data science, power
engineering, software development, and meteorology expertise. Our products accelerate
the global transformation to a clean and reliable grid powered by renewables.
Learn more at
utopusinsights.com
and follow us on social media:

· www.twitter.com/utopusinsights

· www.linkedin.com/company/utopusinsights

· www.facebook.com/utopusinsights

· www.instagram.com/utopusinsights

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