Solar asset management and operations and maintenance (O&M) provider Radian Generation has released its Lens internal software platform for use by solar investors.
According to Radian Generation, the software tool centralizes technical operations, financial reporting and contract compliance tasks in a comprehensive, scalable database available from any Web-enabled device. The software has been available internally and to select clients of Radian's asset management services and will now be available as a stand-alone product.
The Lens platform begins with technical operations, automatically capturing performance data from select data acquisition platforms. Weather data is then used to calculate expected production levels for the current conditions, and trouble tickets are automatically created if production falls outside of acceptable bounds. Tickets can be managed and tracked internally or assigned to third-party O&M vendors for resolution.
A second area of emphasis is on regulatory and contractual compliance items, which covers a wide range of obligations embedded within the project. These include managing debt or equity agreements, making lease and insurance payments, applying power purchase agreement escalators, and executing contract extensions, among other functions.
Lens also handles financial reporting, including real-time views of month-to-date performance against financial forecasts and monthly reports. Results are traceable back to the raw data, providing banks and investors with confidence in the results. Radian Generation says the single registry of project assets also simplifies warranty claims and identifies potential risks from over-dependence on a few vendors.
"We want to see solar continue to accelerate, and that will only happen if risks are managed appropriately and industry-wide returns remain strong as projects age," says Chad Sachs, CEO of Radian Generation.
