Digital Solar Solutions Startup Terabase Energy Announced It Has Signed a Definitive Acquisition Agreement PlantPredict, a predictive solar modeling tool, from First Solar.
PlantPredict is an advanced predictive solar modeling tool developed by First Solar for utility-scale PV applications. Easy to use, with advanced modeling options, PlantPredict reduces energy delivery uncertainty by rigorously generating field-verified energy forecasts. PlantPredict has been used by thousands of users around the world for the past 10 years and has been validated by third-party independent engineering firms and peer-reviewed studies. The system has been used to fund many gigawatts of solar power plants, demonstrating the accuracy and affordability of the performance modeling.
Terabase is developing a digital, automated and smart device ecosystem to bring solar energy prices below $0.01 per kWh by 2025. The proprietary system is used by more than 400 EPC companies, developers and independent power producers in 28 countries.
“It makes strategic sense for Terabase to add an industry-leading, cost-effective, cloud-based performance tool like PlantPredict to our growing suite of engineering solutions,” said Matt Campbell, CEO of Terabase. “The future of performance modeling is closer integration with software-based design, cost estimation and financial modeling and it is important for Terabase to have its own cloud-based performance modeling solution. PlantPredict is a perfect complement to other solutions we offer and are developing.”
The First Solar PlantPredict team will join Terabase following the closing of the transaction, which is expected to close in October 2021. This is Terabase’s second acquisition of the year, following the deal to integrate operational technology provider REPlantSolutions earlier this year.
“As we maintain our focus on our advanced module technology, it was important for us to find the right company to integrate PlantPredict into a broader digital energy product portfolio, while continuing to raise the bar for solar energy modeling,” said Nick Strevel, VP of product development at First Solar. “PlantPredict users have long enjoyed fast, highly accurate and cost-effective predictions and, looking to the future, can expect to benefit from the platform’s integration into other Terabase offerings.”
News item from Terabase Energy