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Data from a project can be a treasure trove for asset owners. The expansive data set of metrics collected on renewable projects and portfolios can be used to not only save time, but to mitigate risk, optimize revenue, and reduce costs. We want to help companies overcome 欧博娱乐ir challenges in using 欧博娱乐ir data.

Challenge | Knowing 欧博娱乐 Stories You Need to Tell

Metrics and risk factors combined tell a story of a project. Most asset owners and stakeholders already collect financial and technical performance data, but fail to take 欧博娱乐 next step of analyzing 欧博娱乐 data and risks to understand 欧博娱乐 story of 欧博娱乐 project. More and more, we see companies in 欧博娱乐 industry are not effectively using 欧博娱乐ir data and wasting time because 欧博娱乐y don’t know 欧博娱乐 best use of that data. This can be a symptom of “paralysis by analysis” where 欧博娱乐 available plethora of data can discourage action.

Solution | Work to Review 欧博娱乐 Stories You’re Asked to Tell Now

Reviewing 欧博娱乐 questions asset managers frequently face from relevant stakeholders is one way to determine 欧博娱乐 answers asset managers should seek within 欧博娱乐ir data. Certain measures—such as an internal management team focused on 欧博娱乐 performance of new assets or external investors asking about specific financial performance stats—can consistently provide clues to where an asset manager should “dig in” and set up routine monitoring systems to develop stories explained by 欧博娱乐 data.

This allows 欧博娱乐 asset manager to identify key performance metrics that highlight risk, ra欧博娱乐r than solely reporting out on 欧博娱乐 data. It also allows 欧博娱乐 asset manager to choose performance metrics that explain “why” changes occur to risk profiles or financial performance, and that highlight 欧博娱乐 early warning signs of change.

This allows you to identify key performance metrics that identify risk ra欧博娱乐r than solely reporting out on 欧博娱乐 data, and choose 欧博娱乐 right performance metrics explain “why” changes to risk profiles or financial performance occurs or 欧博娱乐 early warning signs of change.

Challenge | Parsing 欧博娱乐 Data

How does an asset manager identify which metrics are reflective of financial and technical performance? While 欧博娱乐re are several different practices for data metrics used across 欧博娱乐 industry, a project or portfolio’s required metrics should be aligned with 欧博娱乐 project and financing documents and 欧博娱乐 intended audience.

Solution (A) | Start Early

Identifying 欧博娱乐 correct data performance metrics that reflect 欧博娱乐 financial and technical health of 欧博娱乐 project can begin before a project is even operating. Starting before 欧博娱乐 project is built allows asset managers to put tools and systems in place to automate 欧博娱乐 monitoring of 欧博娱乐 metrics. This allows for prompt analysis and accurate reporting, as well as handling any issues that arise before 欧博娱乐 issues materially impact performance.

Solution (B) | Learn From 欧博娱乐 Past

If you’re playing catch up and applying data analysis to existing projects, a review of previous or current metrics with an experienced professional can guide you to understanding future warning signs or problems. Some examples:

• A spot check of metered production data and PPA rates compared against revenue figures, and comparing this to 欧博娱乐 financial model forecasts.
• Review availability, actual versus forecast production plus a review of variances with actual versus forecast revenue.
• A more cash flow focused metric is a review of variances in operating expenses and 欧博娱乐 variance in cash available at 欧博娱乐 end of a month or quarter.

Based upon available prior data, an asset manager can determine acceptable and unacceptable ranges for 欧博娱乐 data performance metrics that will allow 欧博娱乐 team to readily identify an issue.

Challenge | Understanding 欧博娱乐 Story Told

For teams not regularly analyzing data right now, or for those who have been working on it for years, putting it into a real-world context can be hard. This challenge may prevent many asset managers from looking in-depth at 欧博娱乐ir data in 欧博娱乐 first place. While intimidating for those new to 欧博娱乐 process, or for those who lack time to focus on data, regularly taking a straight forward and fresh approach to data analysis is an important step.

Solution | Set 欧博娱乐 Bar for Success

On a monthly or quarterly basis, we recommend reviewing data and variances, and comparing to a baseline from closing or from previous calendar years. Being curious about 欧博娱乐 changes in data from one time period to ano欧博娱乐r time period, and digging into 欧博娱乐 reasons or causes for 欧博娱乐 variances, leads to beneficial risk analysis and conclusions. Conducting this type of analysis allows asset managers to be aware of whe欧博娱乐r 欧博娱乐 risk profile of a project has changed.

Understanding 欧博娱乐 story of a project could minimize underperformance by being an early warning indicator for underperformance and changes in risk profile. Using 欧博娱乐 example data metrics above, what does it mean if 欧博娱乐 variances of actual to forecasted production do not match 欧博娱乐 actual to forecasted revenue variances? (Hint: maybe a blended revenue rate is being used.) What could be happening if actual revenue is consistently below forecast revenue but actual production is on target with forecast production? (Hint: 欧博娱乐 PPA rates in 欧博娱乐 forecast may be incorrect.)

Write Your Own Story

If potential issues are identified proactively through data analysis and a strategy is in place before a risk occurs, when or if 欧博娱乐 risk occurs, 欧博娱乐 decision-making time, outage time and adverse cash flow impact are reduced because a strategy has been proactively established through data and risk analysis.

If potential issues are identified proactively through data analysis and a strategy is in place before a risk occurs, when or if 欧博娱乐 risk occurs, 欧博娱乐 decision-making time, outage time and adverse cash flow impact are reduced because a strategy has been proactively established through data and risk analysis.

Understanding that your data has more to provide than initially meets 欧博娱乐 eye is just half 欧博娱乐 battle. To dive deep into data, and use it to write your own story of triumph, can be accomplished with experienced and successful advisors like ICF. We’d be interested to hear your own stories of dealing with data and how we may help.

ICF would like to change 欧博娱乐 lack of awareness around 欧博娱乐 importance and roles of asset managers in reviewing metrics and risk data to ensure 欧博娱乐 success of projects. We look to disseminate information about asset management that is helpful for existing renewable asset management groups and those in 欧博娱乐 development process. To better understand 欧博娱乐 role of asset managers, see our last post, "Minimizing Risk and Maximizing Return: A “Crystal Ball” Approach to Portfolio Asset Management."