Fluence, AES Corp inks pact for 1.1 GW energy market optimization in the western US
Fluence has announced an agreement with The AES Corporation to employ the AI-powered Fluence IQ Bidding Application to maximize the value of a 1.1 GW portfolio of solar and energy storage projects in the Western United States.
The agreement exemplifies one of the largest single procurements of AI-powered bidding software for renewables and storage assets by an independent power producer in the United States. The software will optimize revenues earned by solar and battery assets through participation in wholesale markets
The Fluence IQ Bidding Application recommends bids into daily and hourly auctions for energy and grid services, anticipating opportunities using advanced forecasting to take advantage of favourable pricing while minimizing exposure to unfavourable pricing.
"We are proud to support AES in maximizing the value of their clean energy assets with our automated bidding software. Storage, solar, and wind owners and operators around the world trust Fluence IQ to manage the complexities of electricity market participation. Today our software supports over 6 GW of contracted or operating assets globally," said Seyed Madaeni, Fluence SVP, and Chief Digital Officer.
"Our software-as-a-service model enables us to rapidly integrate with customers' assets, scale across geographies and technology types, and ensure superior performance as markets change."
"At AES, we are focused on accelerating a carbon-free energy future and helping our customers achieve their clean energy commitments. The Fluence IQ Bidding Application will allow us to best meet our customers' needs with innovative solutions by optimizing assets in real-time based on market price forecasts," said Leo Moreno, AES Clean Energy President.
"By implementing and utilizing cutting-edge automated bidding software for our projects, we will be able to improve grid reliability and efficiency while also supporting our customers' green energy transitions safely and reliably.