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Company portrait: Aleasoft Energy Forecasting

AleaSoft Energy Forecasting, March 6, 2024. Company portrait of AleaSoft Energy Forecasting published by José Pedrosa in pv magazine.

AleaSoft Energy Forecasting, is a company specialized in energy consumption and production forecasting services, relying on Artificial Intelligence to meet the different needs of the energy sector.

It was founded in Barcelona in 1999, the same year in which the Innova Program of the Polytechnic University of Catalonia (UPC) was created, with the aim of harnessing the knowledge and technology of the university and facilitating the creation of technology companies. Antonio Delgado Rigal, CEO of AleaSoft, explained to pv magazine that “AleaSoft was one of the first companies created from this program and the first with the UPC as a shareholder”.

AleaSoft currently has 25 professionals divided between one office in Madrid and two in Barcelona. One third of them have a PhD degree.

According to the company, the Alea methodology, on which AleaSoft’s forecasts and services are based, is a proprietary methodology, the result of a series of university studies and European projects carried out by UPC research groups. The Alea methodology combines Artificial Intelligence, specifically recurrent neural networks, with Box‑Jenkins methodology and classical statistical techniques. Delgado said that “Artificial Intelligence is currently in vogue, but AleaSoft has been using it since the beginning, 25 years ago”.

AleaSoft - Metdodologia Alea

Moreover, he added that the company’s structure is divided into six specialized divisions, designed to offer specific solutions to meet the complex and changing needs of the energy market.

AleaBlue: Short‑ and Mid‑Term Forecasts. This historic division of the company focuses on providing detailed analysis and demand and price forecasts in the short- and mid‑term energy markets. Delgado said that “it is essential for market traders, investors and regulators seeking to understand immediate fluctuations and prepare for market changes on the near to medium horizon”.

AleaGreen: Long‑Term and Renewable Energy Forecasts. Specialized in the analysis of long‑term price curves and forecasts of renewable energy production (solar energy, wind energy, hydroelectric energy, and other sources), AleaGreen plays a critical role for project developers, investors and energy planners who aim to long‑term sustainability and profitability in their investments and operations.

AleaSoft - AleaGreen long term energy price forecasting MIBELLong term price forecast of the Iberian MIBEL electricity market carried out at the end of October 2010 by AleaSoft.
Source: AleaSoft Energy Forecasting.

AleaHub: PPA and Renewable Assets Marketplace. Acting as a marketplace integrator, AleaHub facilitates the connection between buyers and sellers of renewable energy, providing a platform for the exchange of PPA and renewable assets/projects. Delgado said that “this division is invaluable for companies looking to secure or sell renewable energy and for investors looking for new opportunities in the sector”.

Storage, Batteries & Hybridization. According to AleaSoft, this division provides solutions focused on energy storage, especially through batteries, and the hybridization of renewable technologies with storage systems. Its objective is to optimize the operation of these projects to maximize their performance, and it is aimed at grid operators, project developers and entities interested in improving the efficiency and profitability of their storage systems.

Information for the Energy Sector. Through Alea Energy Database, this division provides an online data platform that brings together critical information on energy markets, accompanied by advanced analytical tools. In addition, it offers customized reports to deepen specific topics, adapting to the needs of consultants, analysts and energy managers who require reliable data for their analysis and strategic decisions.

Consulting. Combining AleaSoft’s forecasting capabilities with market and regulatory strategic consulting, this division supports companies in making informed decisions and optimizing renewable energy projects. According to the company, it is ideal for entities seeking to successfully navigate the complex energy market environment, from the planning phase to operation and expansion.

According to the company, its forecasting services reach most European markets, with the Spanish market being the largest by volume. They have also provided forecasts for some markets in Asia, Latin America and the United States.

Antonio Delgado Rigal detailed the company’s marketing strategy: “At AleaSoft, we carry out a comprehensive marketing strategy, in which we try to reach our potential customers through different channels. We put special emphasis on content marketing as a tool to position our brand, while providing valuable information on current events in the energy markets”.

Since 2020, the company has been holding monthly webinars on European energy markets, analyzing the evolution of the markets, the financing of renewable energy projects, PPA, energy storage and, in general, current issues in the sector, inviting speakers from important companies and associations in the sector. Delgado asserted that “the historical average of connected users in Spanish and English is close to 450 and in 2024 it has exceeded 500, a symbol that the interest in these webinars is increasing. In addition, every week we publish news on the evolution of European energy markets or an in‑depth analysis of a current issue in the sector”.

He added that the company has a Newsletter where it sends a weekly summary of the last week’s news to its almost 5000 Spanish and English subscribers.

Challenges and forecasts

According to Dr. Delgado Rigal, AleaSoft’s greatest challenge is to facilitate the global energy transition through cutting‑edge market intelligence services that enable its clients to make informed and effective decisions in the field of renewable energy and sustainability.

The company’s CEO added that the energy transition is bringing a revolution in electricity systems, in the way energy is produced and consumed, with solar and wind renewable energies dominating, introducing more variability, with the development of new players such as self‑consumption, batteries, green hydrogen, electric vehicles, smart cities, as well as other vectors that will be essential to achieve the decarbonization of economies.

In this context, AleaSoft assured that it wants to be the strategic ally of the energy industry, providing specialized consulting, advanced forecasting and analysis, as well as critical data that drives efficiency, innovation and sustainable growth in all facets of the energy market, from the financing of renewable energy projects and PPA to the daily operation of renewable energy, batteries and all actors that will be protagonists in the global green transition.

AleaSoft’s vision is to be a global company that contributes to the implementation of renewable energies and to achieve total decarbonization by 2050, “so in 2024 and 2025 we aim to expand our forecasting services to cover all continents and meet the needs that will arise during the energy transition”, concluded Antonio Delgado Rigal.

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