Fluence Mosaic Intelligent Bidding Software for Energy Storage Systems Expands into Electric Reliability Council of Texas Wholesale Power Market
Fluence Mosaic AI-powered bidding software has launched in ERCOT, starting with over 350 MW / 350 MWh of energy storage projects anticipated to come online and use Mosaic bid recommendations in 2023
ARLINGTON, Va., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (“Fluence”) (NASDAQ: FLNC), a leading global provider of energy storage products and services, and cloud-based software for renewables and storage, today announced that ™, an intelligent bidding software for grid-scale energy storage and renewable assets, has launched in the Electric Reliability Council of Texas (ERCOT) wholesale power market, starting with over 350 MW of battery-based energy storage assets scheduled to commence operations with Mosaic in 2023. Through state-of-the-art machine learning, Mosaic allows scheduling entities to navigate increasingly complex electricity markets so energy storage assets can maximize revenue in wholesale power markets. The announcement reflects Mosaic’s first project in ERCOT with the bid optimization software tailored specifically to the market rules and products within the complex Texas energy market.
As part of a framework agreement with a large energy company for all its new energy storage assets in ERCOT, Mosaic will optimize energy and ancillary services bids and offers in ERCOT’s electricity market, starting with two assets anticipated to come online in 2023. Mosaic leverages artificial intelligence to automate development of advanced price forecasts and optimal hourly and intra-hour (up to five minute) bids. This helps asset owners and traders navigate ERCOT’s complex electricity market and enables energy storage systems to react quickly and efficiently to grid needs and optimize revenue from market participation. Mosaic for ERCOT currently supports energy storage systems from any technology provider.
Also available in the California ISO (CAISO) market and the Australian National Electricity Market (NEM), Mosaic incorporates detailed market rules and real-time data to enable asset owners and traders to maximize participation in wholesale electricity markets and capitalize on the full value of their assets. The software is currently optimizing more than 5 GW of clean energy assets globally, with a total of over 9 GW deployed or awarded.
“We are excited to expand the footprint of our Mosaic Software-as-a-Service product into the ERCOT market and appreciate the trust that our customers have placed in Fluence to optimize and automate bidding for these storage assets,” said Krishna Vanka, Fluence Senior Vice President and Chief Digital Officer. “First released in the NEM, next in CAISO, and now in ERCOT, we look forward to Mosaic’s continued expansion into some of the world’s most dynamic and complex deregulated electricity markets.”
Fluence currently offers two Software-as-a-Service products as part of the Fluence IQ™ Digital Platform: Mosaic and ™, with a combined portfolio of more than 18 GW of assets contracted or under management globally. Nispera is an AI-powered asset performance management software that enables wind, solar, hydro, and storage asset owners and managers to uncover hidden performance issues, minimize downtime, and maximize energy production. Nispera can support assets of any technology provider and in any location globally.
About Fluence
Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services, and cloud-based software for renewables and storage. With a presence in over 40 markets globally, Fluence provides an ecosystem of offerings to drive the clean energy transition, including modular, scalable energy storage products, comprehensive service offerings, and the Fluence IQ Platform, which delivers AI-enabled SaaS products for managing and optimizing renewables and storage from any provider. The Company is transforming the way we power our world by helping customers create more resilient and sustainable electric grids.
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