GridBeyond, a global artificial intelligence(AI)-powered energy group, on Feb. 27 announced it has signed a contract with Gore Street Energy Storage Fund to provide scheduling coordinator, trading, and energy optimization services for the 200-MW Big Rock energy storage system (ESS) in Southern California. GridBeyond, among the companies exhibiting at the InterSolar & Energy Storage North America conference in San Diego, California, this week, said its AI-based Bid Optimizer is key to achieving maximum returns in the California Independent System Operator (CAISO) market, as shown during a multi-month simulation with several optimizers. The Bid Optimizer aligns market price forecasts with simulations of battery storage, renewable, and thermal assets to simplify decision-making while ensuring optimal bids that go beyond conventional trading strategies, according to the company. POWER is a sponsor of the event at the San Diego Convention Center. Sean McEvoy, GridBeyond president of North America, told POWER: “This opportunity with Gore Street Capital leverages GridBeyond's expertise in end-to-end battery management and trading. Our AI-based solutions ensure that our clients’ assets are always optimized for maximum performance and profitability.”
GridBeyond noted that the California power grid is becoming increasingly reliant on solar power, meaning that energy storage systems are key to mitigating to mitigate the intermittency of renewable power generation. The company said that “effective management of Gore Street Capital’s 200-MW energy storage battery will be critical in storing excess solar energy during peak generation and releasing it during high-demand periods, reducing reliance on fossil fuels and supporting grid stability, while generating revenues.” GridBeyond’s CAISO optimization and proprietary must-offer strategy will be part of fulfilling the Big Rock Resource Adequacy contract acquired by a Goldman Sachs subsidiary in October 2024. Alex O’Cinneide, CEO of Gore Street Capital, said, “Gore Street is committed to achieving the very best returns for all of its assets under management. We are therefore very pleased to have selected GridBeyond to partner with as Big Rock goes into operation and we move forward with the project.” “We are thrilled to partner with Gore Street Capital on this energy storage project,” said McEvoy. “This deal highlights our commitment to advancing energy storage optimization solutions and shows once again the accuracy of our AI-based solutions in delivering greater value for our customers ensuring grid stability, and supporting decarbonization goals.” GridBeyond also is exploring the use of public hourly emissions application programming interface, or API, data to track and calculate the carbon impact of its bidding strategies, which will further enhance the transparency of its optimization services and contribute to measurable environmental benefits. —Darrell Proctor is a senior editor for POWER.
