Open Energi and Erova Energy have joined forces in a new partnership, targeting the optimisation of up to 500MW of assets.
On 12 March, Current News reported that the pair will launch the Dynamic Demand 2.0 Trader, offering fully automated algorithmic optimisation and route-to-market services in what is claimed to be the first partnership of its kind. According to the companies, the flexibility of both battery storage and gas peaker plants will be maximised by accessing traded revenues through the wholesale market and Balancing Mechanism. Within the first 18 months of the partnership, the firms will target 300-500MW of flexibility assets.
Open Energi’s ability to optimise asset positioning in volatile traded markets via its Dynamic Demand 2.0 machine learning-led automated control platform will benefit the trader, while Erova Energy will add its automated price forecasting and market insight capabilities to the partnership. This should boost the achievable revenues. Assets will continue to re-optimise and take positions automatically, though Current noted there is also the ability to manually override dispatch through Erova Energy’s 24-hour trading desk to capitalise during extreme pricing events.