Fluence, the Energy storage specialist, Pexapark, a renewable energy market software and advisory firm, has entered into a strategic partnership, towards developing wider renewable energy and energy storage software services.
The partnership delivers customers access to Pexapark’s suite of analytical tools and services through the Fluence IQ digital ecosystem, including market intelligence about renewable energy power purchase agreements (PPAs) and energy portfolio risk management optimization solutions, reported EnergyStorage.
Combining with Fluence’s fleet of 3.6 GW of battery-based energy storage solutions will accelerate the Pexapark incorporation of energy storage analytics into its software products. The company also noted that it has supported more than 20 GW of renewable power purchase agreement (PPA) transactions.
We are all aware that software is becoming a key differentiator for energy storage technology companies. According to most companies, data-driven market intelligence is a must-have for electricity market participants.
In fact, software platforms can connect energy assets to energy markets through enabling optimization and real-time bidding. This move can actually help drive digitization in the market.
Syed Madaeni, AMS’ CEO-turned-Fluence chief digital officer, noted that acquisition will help increase return on investment on energy storage assets from 10% to 30% for customers.
Back in time, Fluence was founded as a JV between Siemens and AES in 2018 and IPOed on the NASDAQ late last year at a valuation of US$4.7bn. The company acquired energy storage software and AI pioneer Advanced Microgrid Solutions (AMS) in October 2020 and rebranded its offerings as Fluence Digital and Trading Platform.