This press release was originally posted by AMS, which was acquired by Fluence in October 2020.
- PRESS RELEASE -
Edify Energy and AMS complete deployment of AI software on a 438 MWp portfolio of utility-scale solar farms in Queensland and Victoria, Australia.
Sydney, Australia and San Francisco, California -- December 17, 2019 -- On July 10th, a wind farm equipped with Artificial Intelligence software successfully navigated a wave of negative wholesale energy prices in Australia, demonstrating the power of AI to enhance the performance of clean energy assets. Tilt Renewables’ 100 MW Snowtown 1 Wind Farm was enabled with AI software in July and self-executed a “precision trading” strategy that has already clearly increased total revenue from the windfarm by precisely bidding its way through a wave of extreme volatility and negative prices in South Australia. “We couldn’t be more excited with the bidding system’s performance at Snowtown right out of the gate,” said Deion Campbell, Chief Executive of Tilt Renewables. “AI software gives us an edge to manage risk and improve margins in energy markets that are becoming more challenging with high penetrations of renewable generation. Being an early adopter of innovation like this demonstrates Tilt Renewables’ leading approach to renewable asset
management and we look forward to applying this technology to other assets shortly.”
The AI software used by Tilt Renewables’ wind farm was developed by AMS (now Fluence), a San Francisco based start-up founded by veterans of California’s clean energy industry. AMS’s chief executive officer, Susan Kennedy, started the company with the backing of A-List investors, including former California Governor Arnold Schwarzenegger, whose groundbreaking policies to reduce carbon emissions sparked billions of dollars of investment in solar, wind, battery storage and other clean energy technologies. AMS’s optimized bidding software is technology agnostic, and substantially increases the revenues of storage, wind, solar and
other generation assets in wholesale electricity markets.
“This time, artificial intelligence is being used to save the planet,” Schwarzenegger said. “If we’re going to address climate change, we need to build renewable energy on a massive scale. Electric grids around the world can’t handle renewable energy on a massive scale without AI.” “Every region of the globe is experiencing the challenges of integrating solar, wind, and electric vehicles into electric grids that were designed for coal and gas,” Kennedy said. “As renewable penetration grows, market volatility will increase. Assets need to be smart, fast and able to accurately predict the forces impacting the electric grid.”
About AMS' Acquisition by Fluence
Fluence, a Siemens and AES company, has acquired the digital intelligence platform of AMS, the leading provider of AI-enabled optimized bidding software for utility-scale storage and generation assets. The combination of the two companies’ technologies will help utilities, developers, and commercial and industrial customers optimize energy storage and flexible assets to deliver additional revenue, improve grid reliability and efficiency, and support the global transition to more sustainable and resilient power systems. The AMS Trading Platform uses artificial intelligence, advanced price forecasting, portfolio optimization and market bidding to ensure energy storage and flexible generation assets are responding optimally to price signals sent by the market.
About Edify Energy
Edify Energy is Australia’s leading integrated renewable energy development & storage investment company. A unique Independent Power Producer, Edify scopes out renewable energy opportunities, raises capital and works with partners to ensure high quality solar and storage projects are structured, financed, brought into operation and managed. Edify’s holistic approach to Asset Management ensures renewable energy farms are governed to maximise output and achieve stakeholder objectives. To date Edify Energy has successfully overseen the development, structuring, financing and delivery of 773 MWp of utility scale solar projects and a 25 MW / 50 MWh battery energy storage system. These projects will produce enough electricity to power over 280,000 Australian homes, representing nearly 3% of all homes in Australia. Edify Energy is funding and supporting the development of a large portfolio of renewable energy and storage projects and is committed to producing clean green electricity solutions for Australian electricity consumers. For more information visit www.edifyenergy.com.