As Australia’s economy aims to achieve net-zero emissions by 2050 as part of the country’s Long-Term Emissions Reduction Plan, its energy sector will need to continue to decarbonise. With the decommissioning of coal-fired power plants and the loss of that power from the electricity grid as well as increasing energy demand, the transition of Australia’s energy mix towards renewables such as wind and solar energy will need to accelerate.
Experienced renewable energy developers will drive this acceleration with small- and large-scale infrastructure projects, both onshore by utilising and repurposing Australia’s large available land mass, and offshore close to coastal areas of high energy demand.
Irish offshore renewable energy consultancy company Exceedence has developed a new software platform, exfin, to support project developers, consultancies and investors/funds to reduce time to commercialisation and increase profitability when embarking on renewable projects.
Exfin is a technical financial modelling solution which accompanies a renewable energy project from pre-feasibility to decommissioning, whether it be offshore wind, wave, tidal or floating solar. It enables users to view detailed metrics such as IRR, NPV, ROI, Capacity factor, and LCOE on a single dashboard to assist in preparing the best project for PPA, CFD, bid and auction success.
A key consideration in these projects is cost, whether it is to explore how commercially viable a project is, or how to accurately predict and optimise projects. Exfin enables users to build their renewable project accurately and uses hundreds of analytical levers to investigate every possible scenario and optimise the project. This enables companies to:
- Generate the project’s cashflow in seconds
- Support design and business decisions with robust, transparent KPI analysis
- Identify key cost drivers and create actionable insights
- Determine cost reduction pathways
- Maximise the use of your resource
- Compare unlimited versions of your projects
Early-stage technical financial modelling is a critical element for all due diligence activities. Exfin enables the user to quickly stress test if a project will be commercially viable or not. Multiple projects or iterations of a project can be analysed on a ‘what if’ basis and informed decisions can be made about the best project or version of a project to pursue.
Having a tool to do this early intervention at prospection phase makes sure that time is not lost developing poor projects and keeps the focus on those with the most potential.
The user can then continue to build out the best projects adding more and more granular data as they go making the projects more robust and ultimately reducing project risk. Having such risk profiles well documented in a standardised platform makes it easier to gain stakeholder support. For example, access to Exfin in data room environments is already proving hugely popular as a means of securing project investments. Exfin has been designed to support the full project lifecycle which ensures project management continuity throughout.
Exfin is currently being used by both technology and project developers within leading energy organisations. In the EU flagship Green Deal project, Exfin is the key decision tool developing multiuse offshore parks with partners such as EDPR, RWE Enel, Simply Blue Group and others.
For more information on exfin or for a demo of the tool, please contact:
Georgina Foley – Chief Commercial Officer, Exceedence
