BERKELEY, Calif. and
TEMPE, Ariz., Aug. 25, 2021 /PRNewswire/ -- Solar digital
solutions startup Terabase Energy today announced that it has
signed a definitive agreement to acquire PlantPredict, a predictive
solar energy modeling tool, from First Solar, Inc. (NASDAQ: FSLR),
a leading American solar technology company. The terms of the
agreement were not disclosed.
PlantPredict is a sophisticated predictive solar energy modeling
tool that was developed by First Solar for utility-scale PV
applications. Easy to use, with advanced modeling options,
PlantPredict reduces energy delivery uncertainty by generating
rigorously field-verified energy predictions. PlantPredict has been
used by thousands of users around the world over the past 10 years
and has been validated by third-party independent engineering firms
and peer-reviewed studies. The system has been used in the
financing of many gigawatts (GW) of solar power plants,
demonstrating the accuracy and bankability of its performance
modeling.
Terabase is developing a digital, automation, and smart device
ecosystem to drive down solar power prices below $0.01 per kWh by 2025. Its proprietary system is
used by more than 400 engineering, procurement, and construction
(EPC) firms, developers, and independent power producers in 28
countries.
"Adding an industry-leading, bankable, cloud-based performance
tool like PlantPredict to our expanding suite of technical
solutions makes strategic sense for Terabase," said Matt Campbell, Terabase CEO. "The future of
performance modeling is tighter integration with software-based
design, cost estimating and financial modeling and it's important
for Terabase to have its own cloud-based performance modeling
solution. PlantPredict is a perfect complement to other solutions
we offer and have under development."
The First Solar PlantPredict team will join Terabase following
the closing of the transaction, which is expected to take place in
October 2021. This is Terabase's
second acquisition of the year, following its deal to integrate
operational technology provider REPlantSolutions earlier this
year.
"As we maintain our focus on our advanced module technology, it
was important for us to find the right company to integrate
PlantPredict into a broader digital energy product portfolio while
continuing to raise the bar for solar energy modeling," said
Nick Strevel, vice president,
Product Development, First Solar. "PlantPredict users have
long enjoyed rapid, highly accurate, and bankable predictions and,
looking to the future, can expect to benefit from the platform's
integration into other Terabase offerings."
About Terabase Energy
Terabase Energy is a digital solutions company whose products
and services reduce costs and accelerate deployment in large scale
solar. The company's proprietary software is used by more than 400
engineering, procurement and construction firms, developers, and
independent power producers in 28 countries. For more information,
visit www.terabase.energy.
About First Solar, Inc.
First Solar is a leading American solar technology company and
global provider of responsibly-produced eco-efficient
solar modules advancing the fight against climate change. Developed
at R&D labs in California and
Ohio, the company's advanced thin
film photovoltaic (PV) modules represent the next generation of
solar technologies, providing a competitive, high-performance,
lower-carbon alternative to conventional crystalline silicon PV
panels. From raw material sourcing and manufacturing through
end-of-life module recycling, First Solar's approach to technology
embodies sustainability and a responsibility towards people and the
planet. For more information, please visit www.firstsolar.com.
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SOURCE Terabase Energy