Wind power investors face the dual challenge of ensuring seamless, safe operation while maximizing the return on their substantial investments. The intricate nature of wind power plants, particularly the ‘heart’ of the project – the turbines – necessitates specialized strategies to sustain efficiency and extend asset longevity. Vu Phong Energy Group’s insightful article, ‘Optimizing operation activity and increase value for wind power plants,’ delves into the pivotal roles of Operation & Maintenance (O&M) and Asset Management in achieving these objectives. This analysis elaborates on how these essential services are foundational for robust wind power plant operations, and how advanced approaches, including those offered through Vu Phong Energy Group’s expertise, can elevate performance, minimize downtime, and unlock maximum financial value for investors in the rapidly growing wind energy sector.
The global wind power industry is experiencing tremendous growth. In 2020, newly constructed plants added an impressive 93 GW of wind power, marking a 53% increase from the previous year. In Vietnam, wind power is also on the rise, driven by competitive costs and abundant natural resources.
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The global energy landscape is undergoing an intense restructuring, with governments promulgating supportive renewable energy policies and investment costs rapidly decreasing. These factors are primary motivators, encouraging more and more investors to participate in wind power development in Vietnam. Effective exploitation of this renewable energy source not only accelerates the energy transition towards sustainability but also promises attractive returns for investors. Crucially, Operation & Maintenance (O&M) and Asset Management are two vital services that enable wind power plants to operate efficiently, maximize their wind potential, and ultimately maximize earnings for investors. This comprehensive approach ensures successful wind power plant optimization.
O&M service – The Foundation for Safe and Efficient Plant Operation
Wind power plants demand not only significant capital investment but also complex construction, repair, and replacement, especially concerning turbines—oversized and heavy equipment considered the “heart” of any project. Therefore, professional wind power O&M is critical. It serves as the foundation for ensuring the system’s continuous operation with high efficiency, minimizing risks during operation (particularly those leading to downtime), and extending the lifespan of valuable assets like turbines.
Wind power plants require not only large capital investment but also complex construction, repair, and replacement (Internet)
Most renewable energy investment in wind projects entails engaging turbine suppliers (Original Equipment Manufacturers – OEMs) to provide O&M services. These contracts typically span 5, 10 years, or longer, depending on the agreed terms. Larger energy enterprises specializing in technical services, equipment supply, and project development often handle these operations in-house.
The specific O&M service items for wind power plants may vary by supplier, but they are generally structured around strategies such as Preventive Maintenance, Corrective Maintenance, and Reliability-Centered Maintenance (RCM). The core of effective operation and maintenance lies in the data collected from the SCADA system, transmitted via sensors strategically placed on the wind turbines. Based on this collected data, the O&M unit can accurately assess the operating status of the turbines and propose an appropriate maintenance schedule. This ensures the system operates efficiently and achieves key performance indicators (KPIs) as committed to the project investor.
However, wind power facilities often possess the potential to operate at even higher capacities, yielding greater profit. This is why investors in wind power projects frequently seek third-party service providers. These independent entities can offer specialized services like monitoring and collaborating with OEMs to increase wind farm value through advanced Asset Management services.
Asset Management – A Value-Added Solution for Wind Power Plants
Asset Management is recognized as a crucial solution to maximize output, improve performance ratios, reduce the levelized cost of energy (LCOE), and significantly increase wind farm value. This is an independent service, typically provided by a specialized third-party firm. It furnishes the wind power plant investor with actionable insights, enabling informed discussions with the OEM (or acting on behalf of the investor) to identify strategies for enhancing each turbine’s performance based on real-world data and varying operational phases, or to negotiate compensation terms effectively. To explore further strategies for value enhancement, consider learning about 3 Asset Management packages that add value to wind farms.
Vu Phong – Steag cooperates to provide Asset Management services to add value to wind power plants
Providers of wind power asset management services typically develop independent software systems to monitor and analyze SCADA system data. These programs often leverage engineers’ expertise and practical experience, applying advanced algorithms such as Machine Learning and AI to deliver specific user data. This data helps assess the “health status” and performance of each turbine in real-time. This capability facilitates intelligent maintenance planning, proposes value-driven measures to improve performance, generates ordinary and extraordinary reports, and enables very early predictions (known as predictive maintenance wind turbines).
To deliver these sophisticated services, a team of technical consultants with profound knowledge and experience in data interpretation is essential, alongside a professional procedure for checking, processing, and evaluating this data. Vu Phong Energy Group, in partnership with Steag, has developed advanced service packages that integrate intelligent software with in-depth technical advice from seasoned wind power specialists. This collaboration ensures high-quality and professional Asset Management services for clients. Vu Phong Energy Group and Steag can even fully represent the investor, collaborating with the OEM to implement intelligent maintenance optimization and serve as project advisor/contract manager, thereby helping to optimize wind power plant output.
Therefore, while O&M is a fundamental service for ensuring the safe and effective operation of wind power plants, Asset Management is the strategic solution for making maintenance smarter, more efficient, and maximizing the plant’s output capacity, thereby enhancing overall asset value. Although they are two distinct services, often provided by different organizations, O&M and Asset Management are both critical solutions for helping wind power facilities function effectively and deliver maximum financial value to investors.
Next reading: Wind power plants can increase electricity output by up to 5% through effective asset management
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