RES leverages international experience to save Australian solar farm $5M+ over the lifetime of the project
by RES | Nov 22, 2022 | Reading time: < 1 min
RES undertook detailed analysis to inform critical spares purchasing decisions for an 80MW+ solar farm managed by the RES Asset Management team. The analysis was to inform revised spare parts limits based on actual equipment performance and downtime.
Leveraging international experience from our global portfolio, the RES team in Australia developed a methodology to calculate anticipated failure rates and the associated lifetime. This data was used to identify the benefit of pre-purchasing additional spares to store on site, as compared to ordering additional parts as required, factoring in the cost of lost availability and revenue from potential downtime.
The analysis produced recommendations that will save the client more than $5M over the lifetime of the project. Creating further value for our global portfolio, this process can be rolled out to other projects (both wind and solar), using a site’s actual failure data to refine calculations and deliver lifetime value.
Adding your renewable asset to the RES portfolio increases long-term value for your project, with innovative cost-saving exercises from each site regularly applied across our global portfolio for the benefit of all RES-managed assets.