MELBOURNE, Australia, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. ("Fluence") (NASDAQ: FLNC), a leading global provider of energy storage products, services, and optimisation software for renewables and storage, today announced the expansion of a contract with Atmos Renewables to optimise an 870 MW portfolio of wind and solar assets in Australia's National Electricity Market (NEM). Atmos Renewables will deploy Fluence Nispera asset performance management (APM) software to optimise the operational performance of the portfolio of assets alongside its current use of Fluence Mosaic AI-powered bidding software to optimise asset market trading. The contract expansion will include employing Nispera's enhanced Loss Breakdown Analysis in a new Executive Dashboard and a new grid curtailment loss metric to unlock near real-time visibility into the root cause of energy production losses and the potential impact of performance improvement.
"We are honoured to strengthen the relationship with Atmos Renewables in deploying our ecosystem of advanced software solutions. We have worked closely with the Atmos team to optimise asset bidding into the NEM with Mosaic and now are continuing that collaboration with Nispera," said Fluence VP & Country Director, Australia, Andrew Kelley. "As a market leader with deep expertise in the NEM, our software products are built on the insights of traders and asset managers who know the challenges of scaling diverse portfolios of renewables and storage assets."
Curtailment of renewables is a growing challenge in Australia as the clean energy transition accelerates. In 2023, the Australian Energy Market Operator (AEMO) reported that curtailment of renewable generation had grown by almost 40 percent from the year prior. By unlocking synergies between Mosaic and Nispera, the grid curtailment loss metric added to Nispera will allow Atmos Renewables to quickly and accurately identify losses from grid constraints, narrow down which losses are caused by performance issues, and thereby help to identify the optimisation potential of their assets. This increased visibility supports the proactive management of the assets, enabling the detection and resolution of performance and budget deviations.
"We appreciate the guidance and expertise of Fluence's team first in deploying Mosaic and now in helping us deploy Nispera for increased visibility into the optimisation potential of our assets," said Atmos Renewables General Manager, Operations, Jason Porter. "Automated monitoring of grid curtailment in near real-time provides a more accurate view of asset performance potential, allows us to take swift, practical action, and saves our asset management team the time that was previously spent collecting and analysing this information manually."
Fluence is a leader in Software-as-a-Service products for managing renewable energy and storage assets, with a combined portfolio of more than 22.3 GW of assets contracted or under management globally.
About Fluence
Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services, and optimisation software for renewables and storage. With a presence in 47 markets globally, Fluence provides an ecosystem of offerings to drive the clean energy transition, including modular, scalable energy storage products, comprehensive service offerings, and AI-enabled SaaS products for managing and optimising 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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The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding anticipated operational performance of Mosaic and Nispera. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as "may," "possible," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of these terms or other similar expressions and variations thereof and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
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Email: Adele.Zhang@fluenceenergy.com
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