Yokogawa Electric Corporation and US-based Power Factors, LLC, announce a global reseller agreement under which Yokogawa will market Power Factors’ industry-leading Drive software platform of asset performance management (APM) solutions for renewable power facilities.
Designed for solar, wind, and energy storage assets, Power Factors’ cloud-based Drive platform for APM delivers the tools and insights needed to optimize the levelized cost of energy (LCOE*) and address the complex integration of large, diverse fleets of renewable energy assets. The platform empowers owners and operators to overcome their biggest challenges, from dealing with aging control technology and disparate systems to the management of data quality, asset performance, and regulatory compliance.
Yokogawa’s renewable energy product portfolio includes edge devices, control platforms, a range of other services including system design, and advanced solutions for the optimization of energy storage devices. In an industry with multiple original equipment manufacturers (OEMs), asset types, and interfaces, the combination of Power Factors’ flagship APM platform with Yokogawa’s industrial automation systems and global service network gives owners and operators the ability to deploy a standardized hardware infrastructure and software interface across their different plants for more efficient management and analysis.
Dave Roberts, senior vice president at Power Factors, said, “We are excited to partner with Yokogawa to deliver our industry-proven Drive platform globally. The suite of solutions enables owners and operators of disparate renewable energy assets to maximize their production and revenue opportunities in ever-changing markets. Merchant, hybrid, hedging, and ancillary services offtake opportunities require complex control and optimization capabilities. Through this agreement, we will combine best-in-class asset performance management with best-in-class instrumentation, automation, and control from Yokogawa.”
Koji Nakaoka, Yokogawa vice president and head of the Global Sales and Industrial Marketing Headquarters, commented, “We have high expectations for the synergies that this agreement with Power Factors will generate, both in terms of technology and market development. Yokogawa has served major power and energy companies worldwide for many decades, and, as the world transitions to renewable energy, we will continue to offer industry-leading solutions to our customers.”
The powerful combination of Yokogawa’s expertise in field sensors, data acquisition, and control, with Power Factors’ advanced analytics and APM software will support leading renewables companies as they meet the challenges of efficiently expanding and optimizing renewable energy sources. With a shared understanding that meaningful insights start with trustworthy data, Power Factors and Yokogawa have partnered to support the growth of the renewable energy industry and contribute to a cleaner, more sustainable future.
* Levelized cost of energy represents the average revenue per unit of electricity generated that would be required to recover the costs of building and operating a generating plant during an assumed financial life and duty cycle.