- PRESS RELEASE -
Software will enable California’s largest investor-owned utility to maximize the value of a flexible energy storage resource to provide safe, clean, reliable and affordable electricity to the California grid.
San Francisco, California – February 17, 2021 – Fluence, the leading global energy storage technology, software and services provider, today announced that its AI-powered Trading Platform has been selected to provide optimization and market bidding services for Pacific Gas and Electric Company’s 182.5 MW, 730 MWh battery energy storage system in Moss Landing, Calif.
Using artificial intelligence, advanced price forecasting, portfolio optimization and market bidding algorithms, the software will ensure the system is responding optimally to market and reliability needs in the California Independent System Operator (CAISO) wholesale market. By providing asset and portfolio managers with updated price forecasts and optimized bids every hour, PG&E will maximize the value of the asset for PG&E customers, improve grid reliability and efficiency, and support California’s transition to a more sustainable and resilient electric grid.
“PG&E was one of the first utilities to appreciate the need for a sophisticated AI-enabled bidding technology to optimize its energy storage assets,” said Seyed Madaeni, chief digital officer of Fluence. “This technology-agnostic software provides PG&E with a single tool that can optimize not only the Moss Landing project, but potentially entire portfolios of generation and storage resources to enhance affordability of resources. We are excited to work with PG&E to use advanced technology to improve the efficiency and reliability of the CAISO market and lower costs for California consumers.”
The Fluence Digital team – formerly AMS, which was acquired by Fluence in 2020 – is the leading developer of AI-enabled optimized bidding software for grid-scale storage and generation assets. The Trading Platform, which can be used to optimize a variety of energy resources in the CAISO market and in the Australian National Electricity Market (NEM), can increase revenue and operational efficiency for battery-based energy storage by 40-50 percent and revenue for standalone renewable energy assets by over 10 percent via optimized wholesale market bidding. It is currently used by energy asset owners to optimize approximately 15 percent of all wind and solar energy assets bidding into the NEM – approximately 1.7 GW – with a further 0.7 GW under contract. PG&E is Fluence’s first announced Trading Platform customer in the California ISO (CAISO).
The Fluence Digital team has tested the software’s integration with PG&E’s bidding and scheduling systems for the 4 MW Yerba Buena and 2 MW Vaca Dixon energy storage installations. PG&E plans to begin using the software at Moss Landing when the project comes online later this year.
Fluence, a Siemens and AES company, is the global market leader in energy storage technology, software and services, combining the agility of a technology company with the expertise, vision and financial backing of two well-established and respected industry giants. Building on the pioneering work of AES Energy Storage and Siemens energy storage, the company's goal is to create a more sustainable future by transforming the way we power our world. Providing design, delivery and integration, Fluence offers proven energy storage technology solutions that address the diverse needs and challenges of customers in a rapidly transforming energy landscape. The company currently has approximately 2.4 gigawatts of projects deployed or awarded across 24 countries and territories worldwide. Fluence topped the Guidehouse's utility-scale energy storage leaderboard in 2020 and its sixth-generation Tech Stack won Commercial Technology of the Year at the 22nd annual S&P Global Platts Global Energy Awards. In 2019, it was named one of Fast Company's Most Innovative Companies.
To learn more about Fluence, please visit: fluenceenergy.com
Director of Communications, Fluence
1 (703) 721-8818