Windar Photonics' (LON:WPHO) patented low-cost, nacelle-mounted wind measurement system increases wind turbine efficiency and reduces operational wear. This is attractive to independent power producers (IPPs) and wind turbine OEMs as the constant change in power tariffs and government subsidies means there is increased emphasis on minimising the total cost of energy through increasing productivity per turbine and extending turbine life. Windar already has over 250 pilot installations worldwide. We reinstate our estimates, with deliveries now reaching c 5k units in FY20, rather than FY19 previously. The announcement in December of a transformational contract for 300 LiDAR for volume installation on wind parks in China gives greater confidence that the industry is finally beginning to adopt Windar’s proposition of integrating LiDAR into individual wind turbines.
Increasing energy efficiency via turbine alignment
Windar’s LiDAR systems are designed to be cost-efficient, allowing Windar to offer them at c 80% lower prices than other LiDAR manufactures. This means the LiDAR can be mounted on top of individual turbines where they measure forward-looking wind direction. The information enables dynamic control of the direction and pitch of the turbine, resulting in increased power output and reduced damage from strong winds. The low cost compared to other systems enables payback times that are sufficiently attractive to drive commercial uptake of the system.
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