Exceedence’s case studies
Project Developers of offshore Wind & Wave energy – GRSI
The ocean energy sector has been plagued with technical and financial failures over the last number of years, given the sectors infancy it is vital that engineering innovation is assessed not only in a performance manner but also financially to ensure a sustainable sector is created. For the obvious reasons, GRS/I were very interested in using the Exceedence financial software. The software was tailored for a wide range of projects from early stage project development to refined detail financial review.
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” It’s clear that the software has massive potential to help commercialise wave and tidal renewable energy in a sustainable manner. ”
Wave energy technologies Developers – Sea Power
Wood and Exceedence undertook a case study which considered a hinged wavefollowing attenuator designed by Sea Power Ltd. OptiWave is a financial and engineering optimisation platform for wave energy systems which is designed to efficiently and accurately inform developers of key performance metrics.
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” Optiwave is a vital step in unlocking the complexities of technical and financial modelling. It allows developers and funders to focus their budgets to develop projects based on a transparent and robust metric – such as a cost per MWh. ”
” The integrated nature of the engineering and financial models, in addition to the online database of wave resource information, are major plus points for us ”
Micro offshore Wind technologies Developers – DareTech
DARE Technology have created the HiGEN 5 – 20kW wind turbine for marine vessels that can be used in combination with hybrid systems whilst in port. Exceedence FINANCE was used to calculate the LCOE of the Hi-GEN 5kW, at four different sites in the North Sea, using the power curve for the Hi-GEN 5kW. The variables were availability, and CAPEX.
” Exceedence have independently verified our technology using Exceedence FINANCE, giving us the convincing arguments, we were looking for. ”
” Exceedence FINANCE brings to us a new level of user friendliness to handling vast amount of hourly resource data to quickly match our device to a location. ”
Financial benchmarking against other tools
Through a recent SEAI project Exceedence Ltd. engaged EY to build a generic financial model. Exceedence Ltd. provided the initial input to run the model, and simultaneously built a model using the same input in the Exceedence Finance software. The objective was to identify areas of commonality and differences between the two financial models, which has been used by Exceedence to independently verify the software’s output. Where both companies used the same methodology the two models produced identical results.
“EY purpose built a model to identify commonalities and differences with Exceedence’s proprietary software. The outputs were used by Exceedence to provide independent verification of the software’s output.”