WindarPhotonics AnnualReport 2018 All - Flipbook - Page 12
WindEYE™- The Retrofit Market
WindEYE™ provides energy increases to IPP’s already
commisioned wind projects
Windar Photonics’ WindEYE™LiDAR solution can increase annual energy
production by 1-4% by ensuring that the wind turbine is always facing the
correct way for extracting energy from the wind efficiently.
In terms of the size of the market, there are currently c. 220,000 wind
turbines (more than 1.49MW) installed across the world. The Company
serves this market segment through distribution partners, and is well
positioned to retrofit a minimum of 2% of the total addressable retrofit
market per annum, within the foreseeable future.
During the period, Windar Photonics signed a global distribution agreement
with Vestas Wind Systems and this is expected to support this target.
Vestas is the largest maintenance provider in the industry with 78GW or 14%
of the global cumulative installed wind capacity under service. This means
that Vestas will now be selling and marketing Windar’s WindEYETM system as
a retrofit solution to the wind industry. This was a milestone deal during the
period, particularly given that it connects Windar to a service network of
more than 10,000 people in 63 countries.
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Windar Photonics - Annual Report and Accounts 2018