AREA (Analytics for renewable energy Auctions) is a new and innovative platform that changes the way renewable energy is procured in developing countries.
It was conceived to support governments throughout the entire procurement cycle.
We offer a complete suite of modules covering the full cycle of renewable energy procurement programs (REPPs), from initial data gathering to monitoring of projects in operation.
AREA, the RELP Platform, is a must have for governments that want deeper insights and to streamline the process of attracting investments at scale.
AREA is extremely flexible. Its suite of models can be used by different stakeholders in different ways:
- It can work in a stand-alone mode with a selection of its modules for specific insights.
- And/or in an integrated mode through dedicated workflows depending on specific needs, allowing each actor to interact with the platform by providing their own inputs and perspectives.
We designed a state-of-the-art Agent-Based Model to estimate winning prices from a given bidder’s scenario, allowing for energy deployment optimization.
AREA auction simulation vs real mean winning bid prices. Solar PV in Germany, 2015-2022. * **
* Bundesministerium für wirtschaft und klimaschutz, Germany. Bundesnetzagentur. Ausschreibungen für EE- und KWK-Anlagen, 2022 url: https://www.bundesnetzagentur.de/DE/Fachthemen/ElektrizitaetundGas/Ausschreibungen/start.html
** N Saintier, M Kind, JP Pinasco, Learning, Mean Field Approximations, and Phase Transitions in Auction Models. In Dynamic Games and Applications, doi:10.1007/s13235-023-00508-9
The platform offers a detailed overview of key infrastructure, economic and financial features of the energy sector.
A complete set of tools has been developed to analyze risks in detail, and to apply the best combination of policy and financial de-risking instruments for proper mitigation.
We have built a proprietary set of models to simulate different scenarios to determine the cost of energy, suitable auction design, and auction-bid-round configuration to serve the most important government and public interest objectives.
From a program structuring perspective, the platform is meant to streamline market and risk assessment, REPP design, and implementation, including the preparation of customized legal agreements.
AREA offers policymakers the possibility of managing the entire tender process online via the eTendering module, which runs inside the blockchain ecosystem for ultimate transparency and to assure equal rights to all bidders, as well as security and time optimization throughout the entire process from the call for tenders to the selection and awarding of projects and the execution of final agreements. The platform has also been designed to support and streamline the monitoring phase after projects are awarded.
During project construction and operation, it offers measurements to control the most relevant metrics and KPIs, and provides retrofeed to our database. As an option, any guarantee offered by the International Trust for Renewable Energy (the iTrust) can be executed and monitored via smart contracts inside the platform, securing compliance with the Revolving Energy Payment Guarantee and the Early Termination Payment Agreements.
AREA is an innovative and reliable one-stop platform for governments in developing countries to catalyze private-sector investments at scale, in an efficient and cost-effective way.