Modern managers of renewable energy portfolios handle unique challenges. Ever since the turnaround of the renewables industry about a decade ago, more facilities have emerged globally. The "Renewable Energy Policy Network for the 21st Century” captures the scene vividly. From 2019 to 2020, the renewable energy industry installed up to 261GW.
This indicates significant growth, but asset managers face a real test. At the company level, doubling your portfolio capacity can turn into a management nightmare. Challenges notwithstanding, there is a way of taking advantage of increased portfolio capacity.
More Portfolio Capacity, New Challenges
The increased amount of data that organizations produce, higher storage capacity, and tough compliance regulations have prompted managers to be more effective in recent times. This pressure is not likely to die soon- generated information will be 10-times more by 2025.
An increase in portfolio capacity exposes the manager to the challenge of identifying the emerging data sources and making sense of this data. Reliable conclusions and consequent decisions can only draw from an in-depth view and analysis of the data.
For limited portfolio capacity, data may still be manageable with prevailing tools and workforce. However, increased portfolio presents new challenges related to information aggregation and portfolio analysis.
The internationalization of assets is also a contributor to the increased complexity of management. Doubling your portfolio capacity may mean going beyond the borders. Every country tends to have its specific investment factors, taxes included. For the asset manager, such a situation demands the management of extra data. Unluckily, there are new and larger risks if the portfolio capacity increases- these can easily hamper profitability.
Competitive Edge in Your Renewables Business
Increased portfolio capacity can mean more money in your pocket, but usually on the condition of the following:
- Application of efficient automation, software, and tools
- Increasing the team with the portfolio capacity
In the current competitive landscape, automation and software are the surest ways of significantly optimizing your portfolio.
With the ongoing liberalization of the energy market, renewables are at the center of reducing feed-in tariffs. Revenues are also falling. Portfolio managers must ensure a smooth flow of revenues at all costs. Apart from satisfying investors, the managers must keep operations ongoing.
In a situation of increased portfolio capacity, revenue tracking is as important as the analysis of targets. When your methods are working efficiently, you have a competitive advantage. If you are constantly dealing with errors, then you are losing valuable time. Your goal as a renewable energy asset manager should be to analyze and optimize your portfolio.
Companies have different ways of achieving this. However, QBI Solutions believes that the more time a portfolio manager spends on optimization, the higher the business returns. Have you checked out how QBI Solutions could reduce your management burden in the case of doubled capacity?
QBI Software for Seamless Transition
Doubling your portfolio capacity presents an opportunity for improved business operations. Consider the following dynamics:
Your doubled portfolio capacity is now more complex. The asset manager can no longer rely on manual processes because they are overwhelming. Management style must now change to adopt a scalable method.
QBI can help in the automation of essential tasks so that they can be more accessible and centralized. The complex tasks can be streamlined with the same or even less personnel and cost. Our asset management software helps you to double your capacity portfolio management to meet the growth requirements without necessarily adding extra resources.
When the portfolio capacity doubles, it is easy to miss incidents or obligations, unless you have a streamlined procedure in place. It can only be mess-free if there is not only transparency but also centralization and correct documentation.
Get on the QBI Solutions platform to streamline tasks and workflows across your renewable energy teams. The system is capable of addressing progressing activities. You can comfortably double your portfolio capacity and still enjoy seamless assignments, approvals, and reporting to all stakeholders.
The increase in portfolio capacity means you now have scattered data within different monitoring systems and repositories. Keeping track of all the emails and other data can become challenging.
QBI software centralizes all the data and analyses it. With a centralized platform, no size of portfolio capacity is difficult to manage. Our platform is also capable of tracking documents so that you do not miss permits, insurance, maintenance, contracts, and so forth.
Mishandled Regulatory and Contractual Obligations
As you now have an expanded portfolio capacity, the level of contractual and regulatory requirements has increased. Missed obligations can sometimes lead to penalties, yet this is a higher likelihood with your new engagements. While a focus on business growth is the desire of every RE asset manager, these obligations may consume unnecessary time.
Why not automate these processes and put these worries to rest? You can focus on ensuring your doubled portfolio capacity is on a path to even higher growth. Even if there were employee turnaround, you will always have an audit trail of everything that transpires.
Handling Recurrent Reports
Management can also be tricky because more stakeholders are waiting for ongoing and periodical reports. As an estimate, your organization can spend up to 50 hours monthly preparing these reports manually. With monitoring systems in place, the QBI platform retrieves real-time data and creates all the analytics, KPIs, and reports. All this is possible with a few clicks of the button.
The decision by any investor to double portfolio capacity is typically because of the need for profitability. Indeed, this report captures the pressure on asset managers to grow profits. Asset management software is a timely answer to organizational chaos created by expansion.
QBI offers an end-to-end process optimization and information integration platform that allows our clients to manage their assets and operate optimally in all stages of the project: development, construction, asset management, and M&A. It is designed by, and for, renewable energy professionals, and is flexible and configurable by country, state or region, and technology, regardless of the energy source. Your projects, associated tasks, documentation, dashboards and other project-related information are centralized and digitized.
Additionally, we can connect to any peripheral information system, thus optimizing the use of your infrastructure and assets, reducing operational costs, driving energy efficiency initiatives and improving the financial return on your investment. If you want to join the more than 17 GW of Controlled Capacity managed through QBI, then we have all the information you need on our website.