Verisk Analytics, a data analytics specialist, just acquired MAKE, a research and advisory firm focused on wind power. MAKE will become part of Wood Mackenzie, a Verisk Analytics business that provides research and advisory services to the power and natural resources sector. Financial terms of the deal were not disclosed.
The addition of wind market intelligence to the Wood Mackenzie team comes at a time when the industry is seeing a boom in offshore wind and steady growth in onshore wind, as well as the ability to offer some of the lowest (perhaps the lowest) levelized costs of energy in 2017.
“Wood Mackenzie is building a pre-eminent position to offer our clients the latest thinking in the renewables sector,” said Neal Anderson, president of Wood Mackenzie. “MAKE’s expertise in wind and solar power complements both Greentech Media’s expertise and our own existing practice.”
Wood Mackenzie acquired Greentech Media in July 2016 for its solar, energy storage and grid expertise. MAKE's wind practice joins GTM under the Wood Mackenzie banner to address all of the sources of new electrical generation and the transformation of the global electricity industry.
Wind is now producing 5.5 percent of U.S. electricity, according to the American Wind Energy Association. "Grid operators for the major grids like ERCOT, SPP and MISO have been able to successfully integrate wind at significant levels without compromising reliability or delivery of electricity to their customers," notes the report.
Greentech Media established itself as a solar industry intelligence leader as it extensively covered the fiftyfold growth of the global market over the last 10 years. As solar accelerated and came to represent a material contribution to the grid, GTM added a grid edge and energy storage market research practice. The combination of GTM's coverage with MAKE's deep wind expertise and international reach means Wood Mackenzie is positioned to chart and guide the global energy transition toward decarbonization and decentralization.
"The folks at MAKE are kindred spirits and clearly think of the wind market in the same way we look at solar, grid edge and energy storage -- devoting significant analytical resources to build a deep understanding of both the technological and market forces shaping this critical renewable energy market," said Scott Clavenna, CEO of Greentech Media. "We’re all very much looking forward to working with MAKE to create an unrivaled global power and renewables analysis business."
MAKE, with locations in Denmark, China and the U.S., offers reports, access to MAKE’s proprietary databases and forecasts, analyst presentations, direct analyst access and bespoke consulting projects.
"In nearly every corner of the world, wind is becoming a dominant force in new capacity additions. Continued improvements in cost, capacity factor and wind farm design make it an exciting area to cover. We'll be serving up a lot more wind content to readers in the coming months," said Stephen Lacey, GTM's editor-in-chief.