The automated electricity trading technology of US-based Fluence continues its run of success in the Australian renewables market, with news that its IQ Bidding Application has been deployed at three new solar farms in New South Wales.
Fluence said on Tuesday that Greek industrial and energy company Mytilineos would use the AI-enabled bidding platform to optimise trading at its three operational solar farms – Wagga Wagga (48MW), Junee (30MW) and Corowa (30MW).
The latest deployment of the technology follows closely on a deal Fluence struck earlier this month to apply its automated trading platform at the Longwarry BESS – a 5MW/7.5MWh battery energy storage system contracted to support the Ausnet grid in Victoria.
The Fluence IQ Bidding Application works by analysing thousands of variables to provide leading price forecasting and to optimise bidding and dispatch in the National Electricity Market (NEM).
This includes further maximising generation when demand is high, or avoiding generation during periods of oversupply and negative prices – or in the case of big batteries, charging up at times of low demand.
Fluence acknowledged this week that the recent introduction of the “five-minute settlement” rule for the NEM had been a boon for its IQ Bidding Application, requiring renewable generators to be able to perform highly accurate price forecasting to avoid any negative pricing events.
“The Bidding Application assists the asset owner and operator of the solar farms, Mytilineos to maximise generation during periods of favourable pricing in the market and curtail generation during periods of oversupply and negative pricing,” said Andrew Kelley, Fluence digital country director in Australia.
“We are delighted that Mytilineos is placing its trust in our software to maximise the revenue and value of its entire operating Australian solar farm portfolio during the daylight hours,” Kelley added.
Athens-based Mytilineos made its strategic entry into the Australian renewables market in 2019 with the purchase of the Corowa, Junee, and Wagga, completing construction of the three solar projects in the second half of 2021.
The company’s other Australian projects include the 110MW Moura solar farm in Queensland, which kicked off construction last month, and the 75MW Wyalong and 22MW Wagga North solar farms, both in NSW.
The three operational NSW solar farms are expected to produce 220GWh a year, with the majority of the power and large-scale generation certificates (LGCs) from the projects going to Australian supermarket giant Coles via a 10 year power purchase agreement, struck in 2019.
