Fluence has signed an agreement with The AES Corp. 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 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 favorable pricing while minimizing exposure to unfavorable pricing.
“We are proud to support AES in maximizing the value of their clean energy assets with our automated bidding software,” says Seyed Madaeni, Fluence’s SVP and chief digital officer. “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. 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.”
Fluence is a developer of AI-enabled bid optimization software for grid-scale storage and renewable generation assets. Fluence’s data scientists, market experts and software engineers apply machine learning and artificial intelligence technologies to the challenges of optimization in energy markets, designing tools that enable customers to articulate bidding strategies and balance operational considerations.
“At AES, we are focused on accelerating a carbon-free energy future and helping our customers achieve their clean energy commitments,” states Leo Moreno, AES Clean Energy’s president. “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. 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.”
The Fluence IQ Bidding Application is available in two markets: the California Independent System Operator (CAISO) market and the Australian National Electricity Market (NEM). The platform is currently used by energy asset owners in Australia to optimize approximately 20% of all grid-scale wind and solar energy assets bidding into the NEM. Bidding Application customers can increase the revenue they earn in these markets by 40% to 50% for battery-based energy storage and 10% for standalone renewable energy assets.