Welcome to the #AssetManagementBites.
Every Monday we will be sharing with you one of the numerous recommendations, best practices and advises (“bites”) from the “Solar Asset Management Best Practice Guidelines Version 1.0”.
The document was developed by SolarPower Europe with the contribution of Alectris. The “Solar Asset Management Best Practice Guidelines Version 1.0” is a resourceful guide addressing the commercial and financial management of solar investments, balancing the risks, opportunities, costs, and performance benefits. The document aims to encourage asset managers to keep their services consistent and at the highest level.
Chapter 9: DATA MANAGEMENT AND HIGH-LEVEL MONITORING
The Asset Manager should collect and share with their clients all key data/deadlines to demonstrate compliance with the expected deliverables set out in the Asset Management contracts.
In some cases, based on a client’s requests and SLA, delays or failures associated with the fulfilment of such obligations may result in the Asset Management company having to pay penalties (consider referring to the chapter on contractual framework).
The key data/deadlines should be identified based on the client’s priorities and agreed scope of work. However, some typical areas are identified and summarised in the Table below.
Once identified, these requirements and activities must be calendarised in the Asset Management Platform. Apart from simple calendar entries, the platform should also include escalation features, for example for overdue items, to ensure that important tasks are not neglected. Such escalation should ideally involve multiple team members, depending on their role and position in the hierarchy.