SAN FRANCISCO, July 14, 2015 /PRNewswire/ -- Amplify
Energy, Inc., a provider of engineering services to solar project
owners, buyers, and developers, today at the Intersolar North
America show announced that it has commenced business operations at
its headquarters in South San
Francisco, CA. The new business has been independently
spun off from Yingli Green Energy Americas, Inc. ("Yingli"), a
partially-owned subsidiary of Yingli Green Energy Holding Company
(NYSE: YGE). Yingli is an investor in Amplify Energy, among
others.
Amplify Energy helps solar project owners, buyers, and
developers to appraise PV project value and optimize production. By
using sophisticated performance engineering and its proprietary
PVSAT™ software, the Amplify Energy team goes beyond simple
monitoring or maintenance to thoroughly analyze production and
weather data. The team determines the extent to which performance
is meeting expectations, and quantifies its impact on future
revenue potential. In addition to performance analysis, the company
offers inspection and testing, and consulting services. Amplify
Energy is uniquely positioned to assist customers by providing
services at the project site or at its headquarters, which serves
as a state-of-the-art 3rd party test laboratory complete with
indoor and outdoor test facilities.
"We started Amplify Energy to address the gap between expected
and actual performance," said Brian
Grenko, Chief Executive Officer of Amplify Energy, and
former VP of Technology for Yingli Americas. "As the
installed fleet of megawatt-scale PV systems in the U.S. has grown
from under 3GW to over 13GW since the end of 2012, so has our
understanding of how these systems perform. The reality is
that, over time, installed systems have typically performed
differently than originally modeled. System owners often lack the
quality data and analysis tools needed to capture unrealized
production revenue when monitoring system performance, which can
amount to millions of dollars of lost savings per year per
site."
"The competencies of Amplify Energy are based on years of
research and development efforts at Yingli's former PV Testing
Laboratory," commented Robert
Petrina, Managing Director of Yingli Green Energy Americas.
"By gaining an advanced understanding of how PV systems operate in
the field, the team is well positioned for success. We thank Brian
for his years of service at Yingli."
For more information on the company, please visit
www.amplifyenergy.com.
About Amplify Energy
At Amplify Energy, we evaluate and improve the quality and
performance of solar power generation facilities in order to
maximize financial returns for system owners, buyers, and
developers. Based in South San
Francisco, CA, we provide customized and independent
engineering services, including a full suite of on-site and
laboratory testing. Our proprietary PVSAT™ characterization
software employs state-of-the-art methodology to analyze the data
we acquire in order to compare actual production against modeled
expectations, while identifying root causes for
underperformance. For more information, please visit
amplifyenergy.com.
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SOURCE Amplify Energy