Risk assessment of the impact of climate change on renewable generation

  • 07 AFFORDABLE AND CLEAN ENERGY
  • 09 INDUSTRY, INNOVATION AND INFRAESTRUCTURE
  • 13 CLIMATE ACTION

Risk assessment of the impact of climate change on renewable generation

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January 22

OPEN CALL

I’MNOVATION 2024 is here! Check out the open challenges and sign up.

February 25

END OF INSCRIPTIONS

Haven’t applied yet, run! The deadline for applications is February 25th.

April 18

SELECTION DAY

The finalist startups will pitch to a committee that will decide the winner. This startup will develop a pilot in a real environment for 6 months with us.

November 21

DEMO DAY

Each team will present the results obtained to the decision committee that will evaluate the continuity and scaling of the program.

SOLUTIONS
Energy
DURATION
6 MONTHS
LOCATION
BUDGET
50 000 €
TIME TO FINISH REGISTRATION

Climate change poses a global challenge, with surface temperatures reaching unprecedented levels year after year. In the Paris Agreement (2015), countries committed to trying to limit the temperature increase to 1.5 ℃ above pre-industrial levels. However, even if they fulfill their promises to reduce emissions, the UN still estimates an increase of around 2.7 ℃ by the end of the 21st century. The accumulation of greenhouse gas (GHG) emissions is directly linked to the use of fossil fuels in all sectors of the economy, particularly in electricity generation, transportation, and industry. Simultaneously, these sectors will be severely impacted by the effects of climate change, as consumption patterns across various sectors may be altered, affecting the supply and demand for electricity.

Renewable energies are often cited as one of the most promising solutions that the sector can offer to reduce GHGs. These rely on resources directly influenced by climatic variables and, therefore, will also be affected by the impacts of climate change throughout their lifecycle.

ACCIONA Energía is the world’s largest global energy company exclusively operating in renewable technologies. The company has facilities using wind, photovoltaic, hydroelectric, biomass, and Concentrated Solar Power (CSP) technologies. The impact of climate change on the availability of renewable resources in the medium and long term is being studied, which will directly affect the profitability of investments. It is equally important to understand the repercussions that climate change can have at the asset level, affecting their efficiency and lifespan.

In the case of wind power generation, climate change could lead to a reduction in the performance of wind turbines due to thermal losses, changes in resource availability, changes in operational behavior, and a shift in air density. All these factors would decrease the number of hours the wind farm operates at peak performance, reducing the amount of electricity generated in both existing and new installations. As for photovoltaic energy, over time, there could be a decrease in the performance of photovoltaic panels due to rising average temperatures. This would result in a reduction in electricity generation throughout the asset’s lifecycle, affecting the profitability of investments.

ACCIONA Energía is looking for solutions that enable the measurement and quantification of the impact of climate change on the profitability of its operational assets. Additionally, the company aims to use this climate intelligence for business development in new geographical markets. Therefore, the solution should enable ACCIONA Energía to assess at the plant and component levels, the effects of climate change to anticipate operational risks in its various plants worldwide. This includes planning and mitigating risks for future installations.

The solution proposed should:

  • Provide information on the probability and incidence of extreme weather events at selected locations.
  • Offer information on the climatic impact on resource availability in the chosen geographies (seasonal, annual, and multi-year forecasts).
  • Provide information on the climatic impact at the park and different elements within it at selected plants for the pilot project (seasonal, annual, and multi-year forecasts). ACCIONA Energía’s project team will identify variables potentially affecting each element, and the solution should measure the probability of occurrence, frequency, and calculate the impact of risk in financial terms for the company.
  • Facilitate the generation of different scenarios with various probability levels to estimate different levels of economic impact for the analyzed asset portfolio.
  • Enable the calculation of the financial impact associated with identified climate risks at different levels of analysis.
  • The solution’s ability to facilitate report generation for compliance with European regulations or international reporting obligations will also be valued.
  • Allow for easy scaling to different plants and geographical locations where ACCIONA Energía

At the beginning of the pilot, the selection of plants and locations, as well as the technologies to be monitored throughout the pilot, will be provided (this point will be reviewed with the selected partner to properly define its scope).

Preguntas frecuentes

Yes. This Open Innovation Program is designed for the co-creation and co-development with startups, spinoffs and scaleups. Although we wouldn’t expect to work with mature companies, ACCIONA understands that developing a new product is hard and pivoting to find the Market-Fit needs from time and work, so we will analyse case by case.

Yes. As companies grow, they develop commercial agreements. Corporate open innovation programs are one of them, although ACCIONA wouldn’t accept to develop a project if the startup is working on a project with the same scope with a competitor.

At the beginning of the project, the ownership of the IP is from each part. Only after the ending of the project, ACCIONA and your company would negotiate over the results of the product or service developed if ACCIONA has had a relevant participation.

Usually, ACCIONA will publish that a pilot has been developed with your company at the end of the project. If you need to share some kind of information of the project, privately or publicly, please contact us.

No. Open Innovation program doesn’t take any equity. Only at the end of the project, ACCIONA would analyse if an investment has a fit in the company strategy and if the startup has an investment round open.

No. Sometimes startups captable is complex. We would accept that one of the founders signs if he/she has power of attorney.