Wood Mackenzie boosts its energy transition data analytics by adding Vestas as a Lens Power(R) Development Partner

Lens® decision intelligence platform pinpoints strategic investment opportunities in utility-scale renewable generation

LONDON, HOUSTON, and SINGAPORE, May 12, 2021 /PRNewswire/ -- At a time when countries and organisations around the world pledge greener economies and net-zero ambitions, the electrification of the global energy system is accelerating at an unprecedented pace. Wood Mackenzie - a leading provider of commercial intelligence for the world's natural resources sector - is developing Lens Power®, a completely new capability for the market which will enable asset-specific valuations at the touch of a button.

With its analytics-ready power and renewables data, Lens Power® will empower organisations to maximize investment opportunities in clean energy and be on the forefront of the energy transition.

Today, Wood Mackenzie welcomes Vestas – a leader in sustainable energy solutions – as a Development Partner for the Lens decision intelligence platform. Vestas joins a growing list of companies across utility, financial, manufacturing, and oil and gas industries partnering with Wood Mackenzie on this future offering.

Wood Mackenzie's Lens® platform has helped organisations across the globe transform how they manage their investment in upstream oil and gas. Now, scaling across the natural resources value chain, Wood Mackenzie is collaborating with early adopter clients to design a power solution that provides a holistic understanding of what's happening in the world of energy, allowing organisations to quickly and confidently digest vast amounts of power data in an integrated, easy-to-use platform.

Ian Roberts, Wood Mackenzie Chief Digital and Product Officer, said: "At Wood Mackenzie, our customer-centric approach to product design is at the heart of what we do. We strive to develop solutions that match our clients' workflows, so they can make confident, data-driven decisions. We are delighted to partner with Vestas, the world's leading wind OEM* and a company with over 40 years of expertise in wind turbine technology. We are excited about the insight into decision making they will bring as leaders in sustainable energy solutions which we can apply to Lens Power."

Nick Fridberg, Senior Director of Global Intelligence & Corporate Strategy at Vestas commented: "An important part of our job is to discover and process market information and turn it into actionable insights that enable stakeholders across our organisation to make better and faster decisions. We welcome the opportunity to work together so we can strengthen our ability to support Vestas' strategy execution and development. Being able to influence the design and concept of Lens Power and gain early access to new, innovative tools in the market will help us sharpen our competitive edge and achieve our vision to become the global leader in sustainable energy solutions."

Wood Mackenzie serves clients across many industries looking to adapt to a low-carbon future. Powering the energy transition is a technology-based switch from fossil fuels to renewables, supported by an almost ubiquitous societal push towards a sustainable future. Ben Kellison, Director of Energy Transition Research for Wood Mackenzie said, "There is a massive, ongoing electrification of the global energy system; where electricity is less than 20% of the energy mix today, it will more than double over the coming decades, with renewables at the forefront of this growth."

EDITOR'S NOTES

*According to Wood Mackenzie's Global wind turbine OEMs 2020 market shares report, Vestas tops the global ranking.

About Wood Mackenzie Lens®

Wood Mackenzie's Lens® platform is the industry standard in critical decision-support, harnessing the power of big data to provide answers to complex questions, enabling customers to manage their operations, processes, and capital swiftly and efficiently, wherever they are. Stay informed of Lens Power solutions at http://go.woodmac.com/lens-power.

About Wood Mackenzie

Wood Mackenzie, a Verisk Analytics business, is a trusted source of commercial intelligence for the world's natural resources sector. We empower clients to make better strategic decisions, providing objective analysis and advice on assets, companies and markets. For more information, visit: www.woodmac.com or follow us on Twitter @WoodMackenzie.

WOOD MACKENZIE is a trademark of Wood Mackenzie Limited and is the subject of trademark registrations and/or applications in the European Community, the USA and other countries around the world.

About Vestas

Vestas is the energy industry's global partner on sustainable energy solutions. We design, manufacture, install, and service onshore and offshore wind turbines across the globe, and with more than 132 GW of wind turbines in 82 countries, we have installed more wind power than anyone else. Through our industry-leading smart data capabilities and unparalleled more than 117 GW of wind turbines under service, we use data to interpret, forecast, and exploit wind resources and deliver best-in-class wind power solutions. Together with our customers, Vestas' more than 29,000 employees are bringing the world sustainable energy solutions to power a bright future.