On February 22, 2023, Fluence Energy, a global leader in energy storage products, services, and cloud-based renewables and storage apps, launched Fluence Mosaic™, an innovative bidding software for grid-scale energy storage and renewable assets, in the ERCOT (Electric Reliability Council of Texas) wholesale power market. Over 350 MW of battery-based energy storage systems will commence operations with Mosaic in 2023. This announcement marks Mosaic™'s first project in ERCOT, with the bid optimization software tailored to the Texas energy market's rules and products.
Mosaic™ will maximize energy and ancillary services bids and offers in ERCOT's electricity market, beginning in 2023, with two assets expected to come online. This is part of a framework agreement with a large power company for its new energy storage assets in ERCOT. Utilizing AI, the solution automates the creation of advanced price projections and optimal hourly and intra-hour (up to 5 minute) bids.
This assists asset owners and traders navigate ERCOT's complex electricity market, enables energy storage systems to respond quickly and effectively to grid requirements, and maximizes market participation revenue. Currently, the solution for ERCOT supports any technology provider's energy storage systems.
Mosaic™ accommodates detailed market rules and real-time data to allow asset owners and traders to optimize participation in wholesale electricity markets and leverage the complete value of their assets. The solution is also available in the Australian National Electricity Market (NEM) and the California ISO (CAISO) market. Currently, the software is enhancing over 5 GW of clean energy assets worldwide, with a total of over 9 GW awarded or deployed.
Fluence offers two SaaS products as part of the Fluence IQTM Digital Platform: Fluence NisperaTM and Mosaic™, with a combined portfolio of more than 18 GW of contracted or managed assets worldwide. NisperaTM is an asset performance management software powered by AI that lets owners and managers of solar, hydro, wind, and storage assets minimize downtime, uncover hidden performance issues, and maximize energy production.
About Fluence
Based in Arlington, Virginia, Fluence is a market leader in energy storage services and products, along with cloud-based software for renewables and storage. With a presence in over 40 global markets, the company provides modular, scalable energy storage products, comprehensive services, and the Fluence IQTM Platform, which offers AI-enabled SaaS products for managing and optimizing renewables and storage. Fluence transforms the energy industry by helping customers create more sustainable and resilient electric grids.