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.
