Offshore staff
OSLO, Norway — TGS has invested in NASH Renewables, a startup developing software-as-a-service (SaaS) technologies for the prospecting, construction and operations of wind energy projects. The equity stake in NASH Renewables is TGS’ first venture investment into a renewable energy startup.
NASH is a new artificial intelligence (AI) software company that was established in Germany in 2022. The company is led by former Siemens Gamesa Chief Digital Officer Daniel Luecht. NASH is developing a novel concept by bringing the technology and electricity market ecosystems together. Combining various data feeds, from weather and energy markets to individual turbine fatigue loads, NASH will provide a new way of optimizing asset configuration and maximizing the energy value obtained, resulting in significantly higher investment returns in post-subsidy energy markets, the company says.
NASH’s AI software solutions will enable wind asset developers and investors to pivot their decision-making processes on optimizing output during periods of high energy demand rather than pursuing the highest possible annual production volume. The choices thus enabled unlock significantly higher value, not only for the market, grid and investors but also for decarbonizing global energy supply.
TGS has acquired a 10% equity stake in NASH Renewables, with an option to increase to 20% subject to predefined business milestones. As a result, TGS is the sole external investor holding a substantial equity stake in the company. TGS and Nash Renewables will collaborate to mature joint SaaS solutions for wind energy projects.
Within its New Energy Solutions business unit established in 2021, TGS has developed an insight platform, WindAXIOM, to help offshore wind energy developers and stakeholders evaluate the viability of potential projects by analyzing multiple resource and risk factors. Additional cross-platform functionalities can be developed with the support of NASH’s team. Further synergies can be gained by improving the predictive functions of the software platform. With its large quantities of modeled and observational data, TGS can help to enhance AI algorithms for forecasting.
Additionally, TGS recently developed and introduced additional data-driven solutions for offshore wind and fully acquired 4C Offshore Ltd (offshore wind market intelligence) and Prediktor AS (real-time data management and asset management solutions for solar PV, wind and oil and gas projects).
07.14.2022
