Ascend Analytics announces the successful commercial operation of the first phase of an energy storage project on the CAISO grid for one of the largest Independent Power Producers (IPP)/Developers in the United States.
The first phase of the project includes equal capacity for solar and a 4-hour Battery Energy Storage System (BESS) sited in San Bernardino, California, and uses Ascend Analytics’ SmartBidder™ platform to manage operational performance and maximize revenue opportunities while managing risk between DA and RT commitments. The project is one of several assets that will use SmartBidder from this developer with a robust pipeline of 5+ GW featuring wind, solar, and energy storage projects.
Ascend Analytics SmartBidder platform was selected by the IPP to provide ISO (Independent System Operator) bid optimization services. Leveraging the SmartBidder platform, the developer defines and deploys custom bidding strategies to maximize the value of their hybrid asset. The platform enables operators to define strategies with risk tolerances based on the probability of future market conditions and forecast prices, price spreads, and spikes. The SmartBidder agents use these strategies to continuously update real-time bids according to evolving market conditions and the available state of charge.
"By tailoring its day-ahead and real-time ISO bid strategies with SmartBidder, this large owner is crafting a strategic approach that not only optimizes revenue and manages risk, but also aligns with its clean energy initiatives, helping streamline operations of projects on the CAISO grid", states Jeff Hartsough, Managing Director of Asset Operations at Ascend Analytics.
Ascend Analytics, an innovative leader at the forefront of the energy transition, offers advanced software and consulting services that capture the evolving and real-time dynamics of energy markets. The company provides its customers with optimized and comprehensive decision analysis that covers everything from long-term planning to real-time operations in the electric power supply industry.
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