• 2019 July 31 16:29

    DNV GL: Digitalization will guide future renewable energy investment strategies

    Renewable energy investors and developers are increasingly turning to digital technology to build effective investment strategies, with almost half (47%) of the finance industry saying they have digitalization as a core part of their publicly stated strategy, DNV GL says in its new research.

    The survey of nearly 2000 senior stakeholders across the energy industry found that with renewables projects increasingly exposed to the full volatility of the market by the phasing out of subsidies; financiers and developers are increasingly turning to digital technologies to better inform their assessment of the value and risk associated with projects, with technologies such as big data analytics being used to provide insight into optimized forecasting of asset performance, lifetime and generation levels.

    The survey also highlighted the impact of blockchain, with 30% of finance respondents claiming that the technology is having an impact on their industry vs just 15% across all energy respondents. However, despite the hype around blockchain, 40% of finance industry respondents said they were not using the technology at all.

    A general reluctance to take advantage of new digital technologies is born out of a lack of clear revenue streams coming from the digital world with uncertainty about clear revenue which could be generated in the future. A lack of senior level buy-in, and a lack of digital mindset was also highlighted in the survey as a bigger barrier to digitalization in the finance industry compared to other sectors in the energy industry.

    While the benefits of digitalization for the finance industry are growing, the unproven nature of new technologies and how to use them, coupled with a lack of digital mindset means the finance industry leaves itself open to disruption by new market players.

    “Digital technology and digitalization are instrumental to ensure the returns that will drive continued investment in renewable energy, as market mechanisms evolve away from subsidies. But for investors to make their financing decisions with confidence, the finance industry needs to better understand both the risk and opportunity of new technologies and their long-term viability, commented Lucy Craig, Vice President of Technology and Innovation at DNV GL – Energy. “By combining an open-minded approach to new technologies and an understanding of risk, the industry can take full advantage of the opportunities that digitalization brings, for a profitable future.

    Energy Digitalization

    At DNV GL we combine our deep energy domain knowledge with cutting-edge digital technology to provide world-leading digital solutions across the power and renewables industry. We manage real-time operational data from over 24GW of solar PV, wind and storage assets through our Green Power Monitor solutions, including 25 utility scale PV plants of over 100MW each. We have analysed over 65GW of operating wind assets and our analysts review data from over 12,500 wind, solar and grid sensors each week. Smart Cable Guard, a digital system for grid reliability, detects the location of electrical cable network failures with an accuracy of greater than 99%, preventing 65% of such failures. Dutch distribution operator Alliander has recently installed 1000 Smart Cable Guard systems in its grids, aiming to become the most reliable grid in The Netherlands. We help utilities implement data-driven energy efficiency programs which have saved over 7.9TWh over the last 3 years.  

    About DNV GL

    DNV GL is a global quality assurance and risk management company. Driven by our purpose of safeguarding life, property and the environment, we enable our customers to advance the safety and sustainability of their business. We provide classification, technical assurance, software and independent expert advisory services to the maritime, oil & gas, power and renewables industries. We also provide certification and supply chain services to customers across a wide range of industries. Operating in more than 100 countries, our experts are dedicated to helping customers make the world safer, smarter and greener.

    DNV GL in the power and renewables industry

    DNV GL delivers world-renowned testing and advisory services to the energy value chain including renewables and energy management. Our expertise spans onshore and offshore wind power, solar, conventional generation, transmission and distribution, smart grids, and sustainable energy use, as well as energy markets and regulations. Our experts support customers around the globe in delivering a safe, reliable, efficient, and sustainable energy supply.




2021 January 28

18:06 CMA CGM applies PSS for cargo from the Mediterranean & Black Sea ports to the Far East
17:45 FESCO’s vessel departed to Antarctica to supply India's research stations
17:20 Port of Kiel cargo volume down 1.2 % to 6.92 million tons in 2020
17:16 Samskip implements UTURN as their next step in digitisation of container transport
17:14 MABUX releases Bunker Weekly Outlook, Jan 28, 2021
17:01 Damen delivers two FCS 2710 vessels to Hung Hua Construction
16:54 Bunker prices are slightly up in the Far East ports of Russia (graph)
16:35 Cargo traffic on Saimaa Canal in 2020 grew by 11.5% YoY
16:23 Samsung Heavy Industries and Hyundai Heavy Industries choose Svanehøj deepwell pumps for new VLECs
15:23 Valenciaport exceeds 5.4 million containers and 80 million tonnes handled in 2020
14:36 Diesel-electric icebreaker Victor Chernomyrdin starts providing assistance in the Gulf of Finland
14:22 Panama Canal helps save the planet more than 13 mln tons of CO2 in 2020
13:22 Keppel enters into second framework deed with Borr Drilling to defer scheduled delivery of rigs
13:01 Oboronlogistics delivered another batch of construction equipment to Tartus
12:42 Wan Hai Lines confirms orders for 12 new vessels
12:15 Maersk expands cold chain options for fresh fruit from the Black Sea and the Mediterranean to Central Russia
11:53 ABP Humber announce completion of £50 million investment in Humber Container Terminal
11:33 Damen launches FCS 7011
11:30 Port of Southampton marks largest shipment of salt in four years
11:04 BPA: Ports survey reflects mood of tentative optimism for 2021
10:54 Wärtsilä wins major order to provide 36 dual-fuel engines for six new LNG carrier vessels
10:25 KMP lays down six buoy tenders of Project 3050.1А
10:04 MABUX: Bunker market this morning, Jan 28, 2021
09:58 CMA CGM to operate and manage the Port of Alexandria’s future terminal
09:53 Crude oil prices decrease amid demand concerns
09:37 Baltic Dry Index as of January 27
09:22 Draft law on obligations of seaports’ investors approved by State Duma of Russia at first reading
08:26 Port of Newport and CEMEX celebrate new agreement in support of construction industry
07:26 MAN Energy Solutions wins order to power ultra-large Hapag-Lloyd containerships
06:31 Hamburg Port Consulting implements IT integration for automated customs clearance for Cuxport

2021 January 27

18:41 BIMCO adopts new tug, barge and “floating hotel” contracts
18:12 ABS to class first Jones Act wind farm SOV
18:00 ICS published the latest Flag State Performance Table
17:41 Optimarin follows strong 2020 with fight for Norway’s Smartest Business title
17:16 Port of Savannah moves more than 4.6M TEUs in 2020
16:58 Corvette and tanker of RF Navy’s Baltic Fleet call at Limassol port
16:37 Port Of Tanjung Pelepas container volumes up 8% to 9.8 mln TEUs in 2020
16:25 Rosmorport's icebreakers started piloting vessels in Vanino seaport
16:02 New shoreside power system reduces carbon emissions at the Port of Gothenburg
15:41 NORMA Cyber to provide cyber security services to Norwegian shipping
15:04 Star Bulk Carriers announces delivery of three capesize vessels
14:54 TransContainer launched coal transportation in containers
14:29 Port of Rotterdam Authority joins BIM Basis Infra
14:00 RF Government approves draft agreement on exports of Belorussian oil products via seaports of Russia
13:27 24 vessel traffic systems of FSUE “Rosmorport” ensured navigation safety in 2020
12:56 Middle East Transport & Logistics Virtual Expo and Summit (METRANSLOG) to be held as a virtual event on March 8-9
11:45 Bunker prices are stable at the Port of Saint-Petersburg, Russia (graph)
11:42 Damen delivers RSD Tug 2513 to Tug Malta
11:13 FSUE Hydrographic Company outlines its dredging plans for 2021
10:39 Arctic infrastructure development through shipbuilding technologies to be discussed at PortNews’ Congress on March 10-11
10:10 Sibanthracite Group and VostokCoal Management Company sold Port Vera
09:48 MABUX: Bunker market this morning, Jan 27, 2021
09:46 Crude oil prices rise on reduction of US reserves
09:27 Kawasaki Heavy Industries delivers the bulk carrier IZUMI
09:12 Baltic Dry Index as of January 26
08:37 Van Oord presents Climate Risk Overview
07:19 DFDS acquires HSF Logistics

2021 January 26

18:31 DFDS invests in 35,000 sqm warehouse
17:47 ABS, NTU, Singapore, and ASTI joint study to explore the potential for ammonia as a marine fuel in Singapore
17:38 Marine Recruiting Agency trained 10% more people in 2020