Tasked to perform a Nordic market analysis for a European independent wind asset management service provider, it was concluded that the timing for a market entry was not ideal at this time. The study concluded that the Nordic countries is an under-served market for asset management services with a 12 GW market potential. Customer interest was also quite high for this new service. However, it was also concluded that the Nordic market is still immature and that the majority of the current owners have in-sourced the asset management services. It is believed that once the market matures and larger financial asset owners, i.e. pension funds and other investors who focus their core business on ownership, start acquiring assets at a larger scale, then the market for asset management services will also present itself, starting in Sweden and then open up the other Nordic countries as well.
The client spent less than 10,000 EUR on having Avazent conduct the study. Avazent created localized sales collateral, assembled list of target wind farm owners as well as associated decision makers, and tested the concept on behalf of the client. The client was continually updated on progress and after only three weeks, the final report was presented to the client. The investment was very limited and the market entry could be postponed to a later date when the market has matured.