1. Study the wind speed data. Wind speed data should be comprehensively analyzed, including historical data and model prediction data. Understand the impact of various weather phenomena on data, such as seasonality or topography.
2. Study the market demand. Understand the market demand of wind power generation and predict the future market trend. This is helpful to evaluate the risk and impact of wind power generation in the future.
3. Make an alternative plan. Make alternative plans to solve unexpected situations. For example, measures such as standby wind turbine, energy storage equipment, standby power supply and power grid connection should be formulated to cope with abnormally high or low wind speed.
4. Define the available risk management tools. Develop appropriate risk management tools for risks, including insurance, futures, options and climate derivatives. For example, climate derivatives can help wind power companies reduce financial losses in case of unexpected situations.
5. Manage and monitor risks. Monitor and manage all relevant aspects, including real-time wind speed monitoring, market environment, alternatives and risk management tool evaluation.
In a word, identifying and managing weather-related risks is very important for wind power projects. Only by fully grasping the relevant data and formulating reasonable alternatives and appropriate risk management tools can we ensure the long-term success and healthy development of the project.