DNV expands solar forecasting expertise with the acquisition of solar data specialist Solcast

DNV has acquired global solar irradiance data and forecasting provider Solcast to further expand DNV’s offering to solar energy customers with digital and data-driven services that help maximize the value of solar power plants globally.

Remi Eriksen, Group President and CEO of DNV
James Luffman, CEO of Solcast
Ditlev Engel, CEO, Energy Systems at DNV

DNV’s Energy Transition Outlook (ETO) forecasts that by 2050 electricity production will more than double and 30% of all electricity will come from solar PV, hence the fast growing need in the energy market for reliable data analytics and trusted monitoring systems.  

Data company Solcast, based in Sydney, Australia with offices in Asia, Europe and the Americas develops the data and tools needed to plan, construct, operate and manage photovoltaic systems. Solar forecasting enables solar power producers to deliver reliable and resilient electricity to grids across fast-growing markets. The integration of solar forecasting with energy storage brings a unique opportunity allowing customers to plan and later dispatch energy on demand to get the most value out of each solar power plant.

Real-time access to high quality, accurate short-term forecasts enable customers to easily evaluate power plant operations, evaluate losses, and improve plant performance that leads to improved plant and portfolio management, ultimately reducing costs and maximizing system and portfolio productivity. Solcast uses the latest in global weather satellite imagery, machine learning, computer vision, and historical and forecast data to accurately produce more than 600 million new forecasts every hour in a cloud-based environment and provide real-time access to forecast data with a 5-15-minute resolution via an application programming interface (API). 

“As a digital native company with strong domain expertise Solcast fits DNV’s strategy to support our customers with trusted data-driven services,” said Remi Eriksen, Group President and CEO of DNV. “DNV’s Energy Transition Outlook forecasts that solar PV will grow 20-fold by 2050 and this acquisition will help us meet the sharp increase in demand for reliable data analytics and trusted monitoring systems. Digital products, such as those provided by Solcast, are key to unlocking the potential of solar, particularly if we are to meet the goals of the Paris Agreement.”

"We are thrilled to be joining DNV," said James Luffman, CEO of Solcast. "Their status as a global and trusted voice, will help us enable energy developers and operators to navigate the complexity and change of the energy transition. This partnership will bring the world's leading solar irradiance and forecasting API to an even larger global audience, whilst maintaining the same level of service that our customers expect." 

“DNV is investing in Solcast, and providing expertise and other resources. The result is a huge boost to our effectiveness and impact,” said Luffman. 

“I extend a warm welcome to the Solcast team. We are excited to combine Solcast’s forecast, real-time, and historical data and expertise with DNV’s analytics, advisory, monitoring, asset management, and domain knowledge. By joining forces, we take an important step toward even more digital services and data delivery to enable customers to efficiently develop and operate their rapidly growing portfolios in all stages of their solar plants life cycle,” said Ditlev Engel, CEO, Energy Systems at DNV.

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About DNV

DNV is an independent assurance and risk management provider, operating in more than 100 countries. Through its broad experience and deep expertise DNV advances safety and sustainable performance, sets industry standards, and inspires and invents solutions.

Whether assessing a new ship design, qualifying technology for a floating wind farm, analyzing sensor data from a gas pipeline or certifying a food company's supply chain, DNV enables its customers and their stakeholders to manage technological and regulatory complexity with confidence.

Driven by its purpose, to safeguard life, property, and the environment, DNV helps its customers seize opportunities and tackle the risks arising from global transformations. DNV is a trusted voice for many of the world’s most successful and forward-thinking companies.

In the energy industry 

DNV provides assurance to the entire energy value chain through its advisory, monitoring, verification, and certification services. As the world's leading resource of independent energy experts and technical advisors, the assurance provider helps industries and governments to navigate the many complex, interrelated transitions taking place globally and regionally, in the energy industry. DNV is committed to realizing the goals of the Paris Agreement and supports customers to transition faster to a deeply decarbonized energy system.

About Solcast

Solcast is a leading provider of solar irradiance data and forecasting technology, dedicated to bringing accurate data to the market and helping enable the energy industry to deliver the resilient power grids it will take to build a solar-powered future.