SAN DIEGO--(BUSINESS WIRE)--GridBeyond, a global AI powered energy technology company, has announced the signing of a major contract with Gore Street Energy Storage Fund to provide Scheduling Coordinator, trading, and energy optimization services for the 200MW Big Rock energy storage system located in Southern California.
GridBeyond’s AI-based Bid Optimizer is key to achieving maximum returns in the 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.
As the California grid is becoming increasingly reliant on solar power, energy storage systems are essential to mitigate the intermittency of renewable generation. The effective management of Gore Street Capital’s 200MW 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 a key component 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 Sean McEvoy GridBeyond President of North America. “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.”
In line with its mission to support sustainability, GridBeyond is also exploring the use of public hourly emissions 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.
About GridBeyond
At GridBeyond, we envision a future where we work hand in hand with our customers to unearth the full potential of energy assets, crafting sustainability, resilience, and affordability to steer the course towards a zero-carbon future.
By bridging the gap between disparate energy resources and the intricacies of electricity markets, our technology unlocks the latent power within every connected asset for utility-scale renewables generation, battery storage or industrial load.
By intelligently dispatching flexibility into the right market, at the right time, asset owners and energy consumers unlock new revenues & savings, resilience, manage price volatility, while supporting the transition to a net zero future.
GridBeyond delivers energy services, new revenues, enhanced savings, strengthened operations and sustainability to over 900 I&C sites worldwide, including some of the planet’s best-loved brands.
About Gore Street Energy Storage Fund
Gore Street Energy Storage Fund plc is London’s first listed energy storage fund, launched in 2018. The Company is the only UK-listed energy storage fund with a diversified portfolio across five grid networks. GSF is one of the principal owners and operators of battery storage facilities in Great Britain and Ireland and owns and operates facilities in Western Mainland Europe and the US. It is listed on the Main Market of the London Stock Exchange and included in the FTSE All-Share Index.
