Aeolus satellite launched by European Space Agency in 2008 is the first satellite mission to achieve uniformly distributed wind measurement from space. Since the mission is still in its infancy, data quality within the planetary boundary layer is yet to be studied, and its applications for wind energy and high-impact weather forecast are still poorly understood. Given that, this PhD project aims to explore the potential of the Aeolus satellite product for innovative applications particularly for the wind energy industry. The focus of this project is mainly on data quality evaluation through triple collocation and numerical simulation with data assimilation for wind resource assessment as well as operational weather forecast.