India special: New penalty widget provides quick financial insights
Under its Green Corridor initiative, India has introduced stringent forecasting and scheduling requirements for all producers of renewable energy. Forecast deviations are subject to severe penalties which are governed by regulations specific to each state. Keeping track of the impact of such deviations is therefore critical for independent power producers (IPP) across India.
Monitor expected penalties in real-time
Rather than waiting for the official monthly deviation settlement statements, enercast users can now monitor the expected penalties in real-time directly in the enercast Portal. Using the actual forecast deliveries and the power generation SCADA data, the monetary impact of deviations is instantly calculated, both in absolute amounts and as revenue impact. A clear visualization in the new penalty widget helps users to quickly verify if the deviations are staying within the penalty-free zone (up to 15% deviation in most states) or if any corrective action might be needed.
Easily manage large multi-state portfolios
As the regulations vary by state, they can be flexibly configured by the user in the enercast Portal. The regulations are then assigned to individual assets or clusters, hence enabling users to easily manage large multi-state portfolios.
enercast approach to help users get quick insights
The new penalty widget is part of the enercast approach to help users get quick insights in terms that are relevant for their own business process rather than just looking at raw data. Minimizing penalties is a key business objective for Indian IPPs which we are addressing for our growing customer base on the subcontinent through accurate forecasting algorithms and ready-to-use solutions.
The quality of the wind and solar power generation forecast is a critical success factor for renewable energy businesses worldwide. To help our users tailor the quality evaluation to their needs, the enercast Portal offers a number of widgets for interactive forecast evaluation.
Sign up for our newsletter
Did you like our blog post and want to receive regular updates on renewable energy performance forecasting? Then the best thing to do is sign up for our newsletter right now..