Solar digital solutions startup Terabase Energy signed a definitive agreement to acquire PlantPredict, a predictive solar energy modeling tool designed to develop energy estimates for utility-scale PV applications, from First Solar, a solar technology company.
The terms of the agreement were not disclosed.
PlantPredict, developed by First Solar for utility-scale PV modeling, reduces delivery uncertainty by producing field-verified energy forecasts, according to the company.
“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.
Matt Campbell added: “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 transaction’s closing, which will take place in October 2021. This is Terabase’s second acquisition in 2021, 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.
Nick Strevel added: “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.”
Terabase Energy provides software solutions and services to reduce solar costs and accelerate large-scale solar deployment. More than 400 EPC firms, developers, and independent power producers in 28 countries use the company’s software platform.
According to a recently released Mercom solar report, in 1H 2021, there were 54 solar corporate M&A transactions compared to 25 transactions in 1H 2020.
Image credit: Alcazar Energy