Market intelligence to add value to energy storage
Storage provider Fluence and renewable trading platform provider Pexapark are partnering to combine market intelligence and energy storage insights.
Under the deal, Pexapark’s suite of analytical tools and services for energy management and trading will be made available to Fluence customers through its IQ digital ecosystem.
The aim is to provide customers with data-driven market intelligence to maximise the value of energy storage investments and optimise further deployments.
“We are growing [an] ecosystem including third party technology solutions, alongside our products, services and digital applications for renewables and storage,” says Manuel Perez Dubuc, CEO of Fluence.
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“Our partnership with Pexapark will encourage greater investment in and deployment of clean energy generation and battery-based energy storage projects on the grid. Together, we will use our digital solutions to advance the global clean energy transition.”
The growth in energy storage and renewables, coupled with increased market volatility and regulatory changes, are presenting new challenges for market participants in the electricity sector.
Asset developers and owners are expected to benefit from pricing and analytics for storage and co-located facilities, advice on best power purchase agreement (PPA) structuring for specific types of generation and storage assets and advisory on trading and hedging strategies.
Michael Waldner, CEO and co-founder, Pexapark adds: “As the renewable energy sector continues to evolve it is critical that industry players are armed with the data, knowledge and software to maximise their returns and manage their risks. Given the current market trends, participants can take advantage of increased revenue potential, assuming they have access to the most advanced technological solutions and accurate market intelligence.”
The partnership will see Pexapark’s market knowledge and data paired with Fluence’s fleet of 3.6GW of battery-based energy storage solutions deployed or contracted to ensure they are optimally participating in wholesale electricity markets.
