Vesper Energy selects Power Factors software to manage its 1.3GW development pipeline
US renewable energy developer adopts Power Factors’ BluePoint software to track, oversee and manage the progress of its assets throughout development and into long-term operation.
San Francisco, April 6 – Vesper Energy, a leading developer, owner and operator of utility-scale renewable energy assets, is adopting BluePoint, Power Factors’ commercial asset management solution, to track the progress and milestones of its 1.3GW solar and storage development pipeline in the United States. Vesper will then continue to use BluePoint software to support financial and commercial management of its operational portfolio as these assets come online.
Vesper Energy is a highly regarded player in the renewable energy industry with an ambitious growth trajectory based on plans to develop, then operate, a sizeable portfolio of high-quality, high value assets that contribute to a sustainable, decarbonized future.
As the business seeks to foster transparency with, and deliver on its commitments to, a growing number of high-profile stakeholders, from its investors and contractors to its Power Purchase Agreement (PPA) offtakers, BluePoint will provide an essential holistic overview of the assets in Vesper’s development pipeline.
BluePoint gives Vesper a single platform through which to track asset data and contractual agreements, which will enable the team to achieve both scalability and compliance. Furthermore, having adopted the software at the start of development, the team will benefit from a full dataset on the history of each asset in the portfolio moving into operations.
The platform will also create wide-ranging efficiencies in administrative and financial management processes, allowing for automated invoicing and the management of future PPA contracts as Vesper continues to grow its operational capacity and offtaker relationships.
Robert Jansen, Director of Asset Management at Vesper Energy, commented, “Compliance and transparency are fundamental pillars of responsible asset management – both throughout the development phase and into long-term operations. Using BluePoint from day one not only helps us create efficiencies in administrative processes that benefit our stakeholders; it gives us control and ownership of all of our essential data and empowers us to make better-informed decisions as we manage contractual risks and build a high-performing clean energy portfolio.”
Kristin Rock, VP of Customer Success at Power Factors, said, “Given the complexity of today’s renewable energy market, the choice of asset management software now ranks almost as highly as the choice of equipment. This takes on increased importance for those looking to bring portfolios through development into operation, while managing a diverse array of stakeholder relationships. Vesper’s early adoption of BluePoint signals their intent to create transparency with and manage risks for their investors, setting a benchmark for sustainable pipeline and portfolio management.”