Clairvest portfolio co. NovaSource launches NovaVision

Executive Summary

• NovaSource Power Services, a portfolio company of Clairvest Group Inc., has launched NovaVision, an AI-powered total asset optimization platform designed for utility-scale solar and energy storage portfolios.
• The platform utilizes predictive analytics, anomaly detection, and guided resolution tools to proactively identify issues, streamline decision-making, and optimize asset performance across large, complex sites.
• NovaSource claims that its integrated solutions and total asset optimization approach result in managed assets delivering, on average, 25% more energy per MW than typical utility-scale fleets.

Key Details

• Platform Name: NovaVision.
• Core Functionality: Unified AI-enabled platform for total asset optimization, featuring predictive models, performance monitoring, anomaly detection, and guided resolution.
• Performance Metrics: NovaSource-managed assets deliver, on average, 25% more energy per MW than typical utility-scale fleets.
• Operational Efficiency: The platform’s 360-degree site visibility capability reduces administrative reporting time by more than an hour per technician per day.
• Technical Features:
  • Customizable predictive models leveraging historical and real-time data to anticipate issues before impacting energy yield.
  • AI-powered anomaly and failure detection scanning patterns across the entire asset fleet to identify faults earlier and prioritize root causes.
  • Actionable insight database ranking operational risks and recommending guided resolutions.
  • Guided resolution tools connecting insights with field operations to reduce mean time to resolution and maximize system uptime.
• Flagship Solutions:
  • Site Visibility: Remote monitoring providing 24/7/365 oversight, enhancing situational awareness and workflow tracking.
  • Analytic Engine: Detects inverter performance issues early through thermal anomaly tracking to minimize downtime and extend asset life.
• Company Scale: NovaSource manages over 30 gigawatts of solar power plants across most U.S. states and key global markets, including battery energy storage systems.
• Ownership: NovaSource is a portfolio company of Clairvest Group Inc. and OMERS Private Equity.

Notable Quotes

• "Our new platform transforms real-time data into actionable and fleet-wide insights," said Akshay Sagar, chief executive officer and president of NovaSource. "NovaVision's predictive analytics and guided workflows empower asset owners to recover lost value and deliver results above industry benchmark."
• "In combination with our 24-seven-365 operations and performance engineering capabilities, NovaVision gives our customers a distinct advantage: earlier issue detection, clearer priorities and guided action that converts insights into measurable progress toward full budget realization," said Frank Kelly, senior vice-president of engineering solutions at NovaSource.