Exceedence, Simply Blue Group and NORCE partner in FASTWIND project funded by the European Space Agency (ESA)

FASTWIND (Financial Analysis using Satellite Technology for Offshore Wind Energy) will use satellite data from ESA's satellite network to conduct wind resource measurement and energy yield analysis.

Software developer Exceedence, Simply Blue Group, a leading blue economy developer, and NORCE Norwegian Research Centre, have joined forces following a successful bid for a European Space Agency (ESA) grant to support a project called FASTWIND (Financial Analysis using Satellite Technology for Offshore Wind Energy) which aims to use satellite data from ESA's satellite network to conduct wind resource measurement and energy yield analysis.

FASTWIND is a cloud-based technology and financial tool for the offshore wind sector. It is driven by wind resource information derived from synthetic aperture radar data from the Sentinel-1 satellites. FASTWIND will develop a cloud-based system that integrates Exceedence's techno-economics analysis software, Exfin, and NORCE's processing chain for synthetic aperture radar (SAR) data that produces satellite wind products for resource mapping. The development will involve building new data management services, an enhanced analysis and optimisation engine, and a new user interface within the existing Exfin architecture.

Speaking about the project, Ray Alcorn, Founder & CEO, Exceedence, said "FASTWIND will allow offshore wind developers to make data-driven decisions using a financial digital twin of their projects drawing from satellite-based earth data. Potential applications range from optimising site selection to improving bankability and maximising the financial performance of operational projects based on forecasting. There is a strong commercial opportunity for this solution currently in the fixed-bottom offshore wind sector which will translate seamlessly to the floating offshore wind sector. We have a unique proposition which will directly connect satellite wind data through a techno-financial package ultimately yielding better placed, optimised and lower cost wind projects."

Hugh Kelly, Co-Founder & Group Managing Director, Simply Blue Group said "We are very pleased to partner with Exceedence and NORCE on this exciting project. We believe the ability to map our inputs onto the ESA data will help drive real innovation in the development of FASTWIND, which in turn will drive huge advancements in how we both maximise our existing sites and select and model future sites, all with the aim of furthering blue economy projects and advancing the renewable energy agenda."

Speaking about the collaboration, Rune Storvold, SVP Observing Systems at NORCE said "We are very happy to be a part of this collaboration that will showcase the great potential of satellite data as an information source for offshore wind development. Met-ocean observations from satellite complement the model data traditionally used, and we believe that their cost-saving effect in both planning and operation of offshore wind farms will receive more and more attention."

Cork based Exceedence Ltd. is a software developer company specialising in the renewable energy sector. The senior team at Exceedence possess deep knowledge and expertise in the specialist areas of renewable energy, finance, ICT, and policy. Exceedence provides techno-financial modelling and analysis that supports design optimisation, identifies cost reduction pathways, and drives LCOE (Levelised Cost of Electricity) reductions via project innovation. Exceedence has built experience through its involvement in 10 key EU projects and in their advisory role to 90+ clients from the developer community.

Simply Blue Group, headquartered in Cork, is a leading developer of pioneering blue economy projects - offshore wind, sustainable fuels, marine energy, carbon dioxide removal and low-impact aquaculture - all in harmony with the oceans. The company has a pipeline of over 10GW of offshore wind projects across the globe. Simply Blue Group will help to shape the FASTWIND tool by providing input parameters from its existing sites around the globe.

NORCE is an independent research institute based in Norway, which conducts research, development and innovation in collaboration with the public and private sectors, with extensive experience in energy, health, climate, environment, society and technology.

This project is being co-funded by the European Space Agency under ARTES 4.0 Business Applications - Space Solutions.