Power Factors announced it will acquire Inaccess, a provider of integrated mission critical software and hardware solutions for renewable power plants, battery energy storage systems, hybrid plants and virtual power plants (VPPs). Inaccess is a technology and solutions provider to global utilities, oil and gas majors, leading renewable energy developers, investors and independent power producers.
The combination of Power Factors’ asset performance management solutions with Inaccess’ SCADA, power plant and battery control and market trading offerings will support the transition of the global renewables energy market from a subsidized and largely static environment to a dynamic, market-based environment.
Linking market and performance-based insights to assets controls will become a must-have for the future renewables market. Additionally, the accelerated adoption of utility-scale storage solutions is enabling new revenue sources for owners of renewable plants. The combination of two powerful platforms, with Power Factors’ asset performance management solutions and Inaccess’ SCADA, power plant and battery control, and energy marketing offerings, will unlock these new services, along with new potential revenue streams.
“The vision of linking plant insights to trading and real-time controls is among the most exciting area of the renewables market today. Open, smart and autonomous tightly integrated tools will be required with the ever-increasing penetration of renewables onto the grid” said Gary Meyers, CEO of Power Factors. “The combination of Power Factors and Inaccess solutions will be transformational for the renewable energy industry. We welcome our new colleagues as we join forces and collaborate to drive the renewable energy transition.”
The transaction is subject to customary closing conditions including regulatory approvals and is expected close within 30 days.
News item from Power Factors