ENERGY

GCCIA and CESI Launch the GCC DAM Pilot Project

GCCIA | December 23, 2021

Gulf Cooperation Council Interconnection Authority (GCCIA) with the support of CESI Middle East FZE, a subsidiary of CESI S.p.A. (Centro Elettrotecnico Sperimentale Italiano), a world-leading technical consulting and engineering company launched the GCC Day Ahead Market (DAM) Pilot Project at the Pavilion of the Gulf Cooperation Council at Expo 2020, in Dubai.

This ambitious project consists in the creation of an electronic platform for the pricing of electricity in GCC countries, as part of the first phase of the energy pricing project in the region. After the go-live, the pilot project is set to last over the course of six months, during which the Member States will be able to gather and leave feedbacks for further implementations in the future.

The GCC DAM Pilot Project is the first of its kind, as it represents a fundamental cornerstone for managing the energy exchange platform launched by the Electricity Interconnection Authority in 2018, an essential contribution to the development of the spot market for electricity trading. The Electricity Interconnection Authority has dedicated a full international team, in collaboration with CESI and ENERWEB, to manage and follow this project.

The GCC DAM Pilot Project aims to be a key-step for the evolution of the roadmap of the regional electricity market. This first phase aims at estimating electricity prices at a regional level and enhancing the expertise and skills on electricity trading topics. Due to the complexity of simulating day-ahead market scenarios, CESI has been involved in the creation of the new platform in terms of both quality assurance and project management support.

This project is a true milestone for the electricity trading in the Gulf area, as it meets the need to implement tools that can support the shift from fossil fuels to renewable electricity sources for GCC countries. I am very proud of CESI involvement in the initiative: for years, we have been developing and using simulation tools for power markets in Europe and supporting traders and market operators, therefore, our expertise and tools can support the ambition of GCCIA, with the goal of modernizing the Gulf region’s energy market.”

Matteo Codazzi, CESI Group CEO

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SOLAR+STORAGE

Quidnet Achieves Major Milestones in US Department of Energy Contracts

Quidnet Energy | April 20, 2021

Houston, TX – Quidnet Energy (Quidnet) today announced it has achieved two key milestones in its projects with the US Department of Energy’s Water Power Technology Office (WPTO) and Advanced Research Projects Agency–Energy (ARPA-E), to commercialize the company’s Geomechanical Pumped Storage (GPS) technology. Quidnet pumps water underground and stores it in-between layers of rock. The natural elasticity of the rock performs like a spring and holds the water under pressure until it is needed, at which time it is released through a hydroelectric turbine to produce electricity to send back to the grid. Quidnet partnered with the WPTO through its HydroWIRES Initiative to develop an innovative reversible injector-generator that will enable deployment of modular hydropower conversion in high-pressure pumped hydro applications such as for Quidnet’s GPS technology. The milestone was achieved by the completion of system-level design and engineering as well as testing of key operating components in an industrial machining facility in New York State. Quidnet is working with ARPA-E through their Duration Addition to electricitY Storage (DAYS) program to develop the GPS resource in key power markets across the US by planning and executing exploratory wells to characterize, evaluate, and validate this geologic resource. This milestone is marked by the completion of project development of the exploration well sites – including sites that reuse inactive O&G wells – and achieving resource performance targets during exploration well hydraulic testing. Analogous work was performed by DOE in the early 2000s to similarly characterize North American wind resources. “WPTO and ARPA-E have been vital partners in the development of our long duration energy storage technology,” said Joe Zhou, Quidnet CEO. “These leading energy technology organizations have brought valuable resources and oversight to the development process, helping steward our technology toward commercialization. Their experience, guidance and partnership are very much appreciated.” “Long duration storage technologies such as Quidnet’s can play a crucial role in advancing our transition to a zero-carbon electric grid,” said Jenn Garson, WPTO Acting Outreach, Engagement & Analysis Manager. “Based on the strong results we have seen to date, we are optimistic about Quidnet’s contribution to our energy future.” “Quidnet Energy, as well as the rest of ARPA-E’s DAYS teams, are working to develop innovative long-duration energy storage systems and create new technologies to increase grid resilience and performance,” said ARPA-E DAYS Program Director Dr. Scott Litzelman. “We look forward to continuing to work closely with Quidnet as they continue to design energy storage solutions of the future.” Quidnet’s technology operates in a closed loop configuration, powered by excess grid electricity. Because most of the process is subsurface, projects have a relatively small footprint (well head, pump/generator building, and holding pond), allowing farmers and landowners to generate significant new lease revenue with minor impact. Quidnet utilizes much of the same subsurface knowledge, workforce, and supply chains as the oil and gas industry, making it a seamless opportunity to re-channel thousands of displaced workers—and the supply chains they operate--toward accelerating a clean energy future. Early resource investigations project sufficient North American geologic resources to provide multiple times the long duration energy storage needed by the grid. “The very talented, dedicated and rapidly-growing Quidnet team is hyper-focused on ensuring a reliable energy transition,” said Quidnet CEO Joe Zhou. “We are committed to being a major part of the solution.” Contact: Steven C. Sullivan 518-441-7272 sullivan@quidnetenergy.com

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ENERGY

Fraugster entering e-mobility boom by partnering with elvah

Fraugster | March 09, 2022

Fraugster, a payment intelligence company, has partnered with e-mobility innovator elvah to provide a comprehensive managed service risk solution. This collaboration allows elvah to access compliance, chargeback protection, risk management solutions and credit scoring through one AI platform and integration. Fraugster will support elvah to detect friendly fraud, identity theft, and abuse by enriching AI data for accurate, real-time decisions through a single integration to protect against fraud and improve customer experience and revenue. elvah's charging solutions address a current megatrend of consumers adopting electric vehicles. In 2021, new registrations of all-electric, battery-powered cars (BEVs) doubled to 4.5 million worldwide. According to the EY Mobility Lens Consumer Index, more than 40% of people worldwide who want to buy a new car are considering an electric car. This trend is supported by the expansion of charging networks. A key challenge that drivers face is that there are several charging providers - all with different billing systems which leads to frustration and uncertainty. elvah is uniquely positioned to offer convenient access to all public charging stations in Germany as well as in 30 other countries. Provider-independent and completely digital in one app with different subscription models. "Fraugster is the perfect partner allowing our teams to focus on our core business to provide the best possible service to our customers, without worrying about risk management. They offer an easy-to-integrate solution that meets all our risk requirements." -elvah CEO, Gowry Sivaganeshamoorthy "We are thrilled to support elvah, a fast-growing company, with our scalable fraud prevention solutions and enter the booming e-mobility market." -Fraugster CEO, Christian Mangold About Fraugster Fraugster is a Berlin based payment intelligence company. Fraugster enables the world's leading merchants, global payment companies like Worldline and Ratepay to intelligently manage the impact of fraud to minimize the costs of fraud, maximize revenue and improve customer experience. Fraugster has developed one of the most accurate AI fraud prevention solutions in the market and is backed by leading deeptech investors Earlybird, Speedinvest, CommerzVentures and Munich Re Ventures. About elvah elvah is a fast-growing company founded in 2021 that offers its customers a straightforward charging solution by providing provider-independent and convenient access to all public charging stations in Germany and more than 30 other countries. By choosing their preferred subscription model, customers can pay for their charge and completely digitally in an app.

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SOLAR+STORAGE

Communications Systems to Enhance Finance and Solar Expertise of Board of Directors Following Merger with Pineapple Energy

Communications Systems | February 16, 2022

Communications Systems, Inc. highlighted steps to enhance the composition of its board of directors following the closing of the proposed merger with Pineapple Energy LLC. Following the completion of the proposed merger with Pineapple, CSI will be renamed “Pineapple Holdings, Inc.” will trade under the new Nasdaq ticker symbol “PEGY,” and will be focused on the growing home solar industry, primarily operating through its Hawaii Energy Connection and E-Gear subsidiary businesses. The CSI post-merger board of directors will be comprised of seven members, four of whom will be independent directors. To enhance the post-merger board, Pineapple and CSI have agreed on the addition of Marilyn Adler and Tom Holland to the board concurrently with the closing of the merger. Roger Lacey, CSI’s Executive Chair and Interim CEO stated, “Ms. Adler and Mr. Holland bring more than 60 years of combined experience in finance and the residential solar industry. We are excited to be adding their talents to the post-closing board and we look forward to leveraging their deep business, management and industry experience. The identification of Ms. Adler and Mr. Holland for the post-closing board is just one of the steps CSI and Pineapple have taken to position the post-closing company for success. The post-closing board and management team will implement Pineapple’s strategy to capitalize on the growing demand for consumer energy solutions by providing homeowners with an end-to-end portfolio of product offerings spanning energy secure solar, battery storage, electric vehicle connections, and managed grid services via organic growth and strategic acquisitions.” As we prepare to ‘hit the ground running’ after the proposed merger closes, the highly experienced management team and diverse board of directors post-closing will help us pursue our objective of transforming Pineapple Holdings into one of the largest rooftop solar and storage companies in the U.S.” Kyle Udseth, Co-Founder and CEO of Pineapple A special meeting of CSI shareholders has been scheduled for Wednesday, March 16, 2022, at 10:00 a.m. Central Time to vote on the proposed Pineapple merger transaction, among other things. Beginning on February 4, 2022, the notice of the special meeting and a proxy statement/prospectus was sent to CSI shareholders as of the January 27, 2022 record date. Post-Closing Board of CSI (Pineapple Holdings) Kyle Udseth, Co-Founder and Chief Executive Officer of Pineapple, who previously served in multiple executive roles at leading national residential solar companies SunRun and Sunnova. Roger Lacey, Executive Chairman of the CSI board of directors, who also served as CSI’s chief executive officer or acting chief executive officer from February 2015 through November 30, 2020 and from August 2, 2021 until the present. Mr. Lacey has served as a CSI director since 2008. Previously he served in executive positions at 3M Company, a multinational industrial and consumer products company. Scott Honour, Managing Partner of Northern Pacific Group, a Wayzata, Minnesota based private equity firm, where he has served since 2012. Northern Pacific is a significant investor in Pineapple Energy. Previously, he was a Senior Managing Director of The Gores Group, a Los Angeles based private equity firm, and before that was an investment banker at UBS Warburg and Donaldson, Lufkin & Jenrette. Marilyn Adler (independent director), founder of Mizzen Capital, a private credit fund, and has been a Managing Partner there since March 2019. Prior to launching Mizzen, Ms. Adler held senior management roles with several Small Business Investment Company funds. Prior to that, she worked in the fixed income group at Teachers Insurance and Annuity Association, a Fortune 100 financial services organization, and before that was an investment banker at Donaldson, Lufkin & Jenrette. Ms. Adler earned an MBA from The Wharton School of the University of Pennsylvania in 1991 and a BS with distinction from Cornell University in 1987. Tom Holland (independent director), Chief Operating Officer of Homebound Inc., a California-based housing company. Previously, he had two stints as a partner with management consultant Bain & Company, from 2018 to 2021 and 1989 to 2013. Holland also has significant operating experience: he was the CEO of Century Snacks, LLC, a California-based food manufacturing company, and was COO and later President of SunRun Inc., an industry leading provider of residential solar panels and home batteries. Mr. Holland holds a B.S. in Civil Engineering from the University of California, Berkeley and an M.B.A. from the Stanford Graduate School of Business. Randall Sampson (independent director), CSI director since 1999 and lead independent director since December 2018. Since 1994, Mr. Sampson has been the president, chief executive officer, and a board member of Canterbury Park Holding Corporation (Nasdaq: CPHC), which owns and operates Canterbury Park Racetrack and Card Casino in Shakopee, Minnesota. Michael Zapata (independent director), director of CSI since June 2020. Mr. Zapata has led Schmitt Industries, Inc. since December 2018. Mr. Zapata is also the founder and Managing Member of Sententia Capital Management, LLC, an investment management firm. Prior to Sententia, Mr. Zapata served nearly 10 years in the U.S. Navy. About Communications Systems, Inc. Communications Systems, Inc., has operated as an IoT intelligent edge products and services company.

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Standard Solar Acquires 4.69 MW Solar + 4 MWh Storage Project from EDF Renewables, Forwards Massachusetts’ Renewable Portfolio Standard Goals

Standard Sola | February 24, 2022

The Massachusetts town of Plymouth and the Acton Water District will soon enjoy the clean energy and savings of solar power with an innovative 4.69 megawatt (MW) solar and 4 MWh storage project. Standard Solar acquired the project from developer EDF Renewables North America. The project received an award from the state’s Solar Massachusetts Renewable Targets (SMART) program, which provides incentives for solar and storage projects. Located in Acton, Massachusetts, on land owned by the Acton Water District, the Lawsbrook Solar + Storage project will allow the Town of Plymouth and Acton Water District to benefit from discounted power and lease revenues from the solar and storage system. The project will further the Commonwealth’s solar and energy storage goals by adding clean power to the bulk electrical system while supplementing the project with a battery to discharge clean power during on-peak evening hours, reducing the need for reliance on dirtier power sources during those times. The system is expected to generate 5,866 megawatt-hours of clean energy each year, enough to power 800 average Massachusetts’ homes and offset the carbon dioxide equivalent of burning 4.5 million pounds of coal. The project is built over the W.R. Grace Superfund Site and was awarded by way of an RFP to EDF Renewables in 2018. This project makes complimentary use of one of the District’s active groundwater well fields, which serves as part of the Town’s drinking water supply. The property hosting the project is previously disturbed land from gravel extraction and is encompassed by the larger W.R. Grace Superfund Site. Due to the various environmental sensitivities on the site, permitting the project entailed receiving approvals at various levels of the federal, state and local governments. Standard Solar is a leader in forwarding the clean energy movement throughout the nation. Adding this solar+storage project to our existing portfolio in Massachusetts underscores our rapid growth. It’s always significant when we connect with a great partner like EDF Renewables and acquire projects that are helping a town like Plymouth and the Acton Water District to capitalize on the multiple benefits of a solar and storage system. We look forward to adding many more projects like this to our portfolio in 2022 and beyond.” Eric Partyka, Director of Business Development, Standard Solar The Lawsbrook project is part of Standard Solar’s rapidly expanding portfolio in Massachusetts and the U.S. They currently own and maintain nearly 20 MW in Massachusetts and 280 MW of commercial and community solar projects throughout the United States. “The Acton Water Solar + Storage project is the first of two projects that EDF Renewables has had the privilege to partner with the Acton Water District on,” said Peter Bay, Associate Director, Business Development for EDF Renewables. “We are thrilled to see the project come to fruition, despite numerous permitting and interconnection challenges, and begin conveying benefits to the District and Town of Plymouth. The Acton Water District team have been fantastic partners on the project and have provided ample support in ensuring it’s a successful endeavor. We’re appreciative to have a reputable partner in Standard Solar as the long-term owner of the site.” “After a few years of hard work by all involved, we are extremely excited to have this renewable energy project coming online,” said Christ Allen District Manager, Acton Water District. “In the water supply industry, we keenly understand the impacts of global climate change, and the role that reliance on fossil fuels plays. We’re committed to do our part by lowering our carbon footprint, as water and wastewater treatment are very energy intensive processes. Partnering with EDF Renewables, such a knowledgeable, experienced company, has given us a great deal of peace of mind endeavoring into technology where we have no experience. It gives us a great deal of pride commissioning our first solar project and contributing to saving the climate.” The SMART Program was created in 2016 by the Massachusetts Department of Energy Resources and is a long-term sustainable solar incentive program designed to advance cost-effective solar development in the state. The new Lawsbrook solar and storage project will help the Commonwealth of Massachusetts reach its Renewable Energy Portfolio Standard as well as their recently codified 2030 and 2050 goals for a statewide clean energy economy. At the close of 2021, the Massachusetts Department of Public Utilities issued an order doubling the SMART program, extending the block incentive program to 3,200 MW of solar capacity. This move creates capacity for new projects and releases a bottleneck of stalled projects. About Standard Solar Standard Solar is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 17 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in the development, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 280 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. About EDF Renewables North America EDF Renewables North America is a market leading independent power producer and service provider with 35 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distribution-scale power: solar and storage; asset optimization: technical, operational, and commercial expertise to maximize performance of generating projects, and onsite solutions, through the Company’s PowerFlex subsidiary, offering a full suite of onsite energy solutions for commercial and industrial customers: solar, storage, EV charging, energy management systems, and microgrids. EDF Renewables’ North American portfolio consists of 24 GW of developed projects and 13 GW under service contracts. EDF Renewables North America is a subsidiary of EDF Renewables, the dedicated renewable energy affiliate of the EDF Group.

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A short comparison of the three inverter topologies – string inverters, microinverters and SolarEdge DC optimized inverters. Learn how the SolarEdge solution combines the best of both worlds

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