Published: 21 Jun 2021, 16:21
The Foresight Group’s full portfolio of sustainable infrastructure, including its UK solar assets, is being digitalised in a new agreement with Sennen.
This process began twelve months ago with the digitalisation of Foresight’s sustainable energy assets, with Sennen’s technology allowing Foresight to analyse performance and report on it quickly and easily by bringing data on all the company’s various projects both in the UK and globally into one place.
Alongside handling project data, the system also helps to manage day-to-day operations. Sennen made reference to Foresight’s supply chain, stating its technology can be used by all contractors, reducing the volume of data exchange and keeping assets running safely and efficiently.
Foresight is also using Sennen’s acquisition module, which allows asset managers to link data on new acquisitions so that it flows directly into the wider asset management system.
The partnership between Foresight and Sennen is now being expanded to digitalise Foresight’s other assets, including forestry assets, social projects and sustainable transport infrastructure, with its full portfolio worth around £6.1 billion.
Sennen is continuing to adapt and develop the system for Foresight, with new features such as work scheduling and risk management currently in development.
Currently, Foresight is pursuing a 700MW pipeline with Island Green Power as well as a 200MW pipeline with Elgin Energy, having made its first UK battery storage acquisition alongside JLEN earlier this year.
It released its latest set of financial results in May, showing that in Q1 2021 its net asset value fell to £558.7 million from £582.20 million in Q4 2020 largely due to medium and long-term power price forecasts remaining revised down as a result of the COVID-19 pandemic.
Ricardo Piñeiro, partner at Foresight, said: “Delivering robust technology that automates asset management and reporting is absolutely fundamental to achieving our ambitious goals to achieve rapid but sustainable growth.”