GridBeyond has continued its international expansion, launching in Australia.
The company will provide AI-powered demand response, virtual power plant (VPP) services and generation and storage asset optimisation services, allowing C&I customers to play into Australia’s National Electricity Market.
“Australia is a market with very strong fundamentals for the long-term success of demand flexibility services where electricity consumers value highly any services that protect them against market prices’ high volatility creating increased cost savings and additional revenues through optimisation tools and robotic trading and by optimising the combination of different types of assets they have (solar, storage, demand assets); and/or by simply running consumption profiles’ optimisations through AI and by participating in attractive grid services like the FCAS (frequency response) market,” said GridBeyond senior business development manager Diogo Cabral.
He added that the increasing number of extreme weather events in Australia over the past year has led to a political shift towards renewable energy, further strengthening the business case for GridBeyond.
The expansion follows the entech company entering the Japanese market in 2021, and the US in 2020 where it operates in Texas’ ERCOT market.
Additionally, in the UK and Ireland, the company is looking to develop a pipeline of behind the meter battery storage projects thanks to a financing facility from Triodos Energy Transition Europe Fund.
“Operating in the VPP & DERMS market that is planned to grow at a CAGR of 20% by 2026, GridBeyond is strongly positioned to continue the significant growth we have seen and to continue to support businesses, asset owners and grid operators throughout the transition to a net zero future and beyond,” said GridBeyond CEO Michael Phelan.
“The FCAS market in Australia is very similar to the ones we manage in Ireland, so we are bringing unparalleled expertise to Australian businesses to manage their flexible energy resources and co-optimise them with wholesale trading. Our microgrid controls that integrate EVs are also a good fit for Australia’s energy market need”.