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Fluence Mosaic Intelligent Bidding Software for Energy Storage Systems Expands into Electric Reliability Council of Texas Wholesale Power Market
Fluence Mosaic AI-powered bidding software has launched in ERCOT, starting with over 350 MW / 350 MWh of energy storage projects anticipated to come online
About this update from Fluence Energy, Inc.
[{"type":"text","content":"Fluence Mosaic AI-powered bidding software has launched in ERCOT, starting with over 350 MW / 350 MWh of energy storage projects anticipated to come online and use Mosaic bid recommendations in 2023\nARLINGTON, Va., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (“Fluence”) (NASDAQ: FLNC), a leading global provider of energy storage products and services, and cloud-based software for renewables and storage, today announced that Fluence Mosaic™, an intelligent bidding software for grid-scale energy storage and renewable assets, has launched in the Electric Reliability Council of Texas (ERCOT) wholesale power market, starting with over 350 MW of battery-based energy storage assets scheduled to commence operations with Mosaic in 2023. Through state-of-the-art machine learning, Mosaic allows scheduling entities to navigate increasingly complex electricity markets so energy storage assets can maximize revenue in wholesale power markets. The announcement reflects Mosaic’s first project in ERCOT with the bid optimization software tailored specifically to the market rules and products within the complex Texas energy market. As part of a framework agreement with a large energy company for all its new energy storage assets in ERCOT, Mosaic will optimize energy and ancillary services bids and offers in ERCOT’s electricity market, starting with two assets anticipated to come online in 2023. Mosaic leverages artificial intelligence to automate development of advanced price forecasts and optimal hourly and intra-hour (up to five minute) bids. This helps asset owners and traders navigate ERCOT’s complex electricity market and enables energy storage systems to react quickly and efficiently to grid needs and optimize revenue from market participation. Mosaic for ERCOT currently supports energy storage systems from any technology provider. Also available in the California ISO (CAISO) market and the Australian National Electricity Market (NEM), Mosaic incorporates detailed market rules and real-time data to enable asset owners and traders to maximize participation in wholesale electricity markets and capitalize on the full value of their assets. The software is currently optimizing more than 5 GW of clean energy assets globally, with a total of over 9 GW deployed or awarded. “We are excited to expand the footprint of our Mosaic Software-as...