Fluence reports that the recent 1.1GW agreement with AES is one of the largest single procurements of AI-powered bidding software for renewables and storage assets by an independent power producer in the US.
Fluence announced an agreement with The AES Corporation, a Fortune 500 global energy company, to implement the AI-powered Fluence IQ Bidding Application to maximize the value of a 1.1GW portfolio of solar and energy storage projects in the Western US.
In October of last year, Fluence acquired AMS’ software and digital intelligence platform for renewables and energy storage. The platform is designed to improve revenue of energy storage assets in wholesale markets. AMS’ technology 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.
The way the Fluence IQ Bidding Application works is it recommends bids into daily and hourly auctions for energy and grid services, anticipating opportunities using advanced forecasting to take advantage of favorable pricing, while minimizing exposure to unfavorable pricing.
Fluence said its AI software supports over 6GW of contracted or operating assets globally. “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,” said Seyed Madaeni, Fluence SVP and chief digital officer.
“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 in a safe and reliable way,” said Leo Moreno, AES clean energy president.
The Fluence IQ Bidding Application is available in two markets: the California Independent System Operator (CAISO) market and the Australian National Electricity Market (NEM). In Australia it is used by energy asset owners in Australia to optimize approximately 20% of all grid-scale wind and solar energy assets bidding into the NEM.
Fluence reports that as of September 30, 2021, it has more than 3.6GW of energy storage deployed or contracted in 30 markets globally, and more than 4.7 GW of wind, solar, and storage assets optimized or contracted in Australia and California.
