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Stem's market bidding software to help drive returns and operational efficiencies across utility-scale renewable energy assets for Central Coast Community Energy and Silicon Valley Clean Energy
Stem (NYSE:STEM), a leader in AI-driven clean energy solutions and services, today announced that its Athena® PowerBidder™ Pro application has been selected by two community choice aggregators (CCAs) – Central Coast Community Energy (3CE) and Silicon Valley Clean Energy (SVCE) – to support scalable bid optimization management and help maximize the value of multiple battery energy storage systems (BESS) in the California Independent System Operator (CAISO) market. Under this software-only contract, the CCAs will use PowerBidder Pro's advanced price forecasting and optimization features to manage and execute trading strategies for a growing portfolio of utility-scale assets in CAISO.
"Stem has been a trusted renewable energy partner in CAISO since 2015 and understands the challenges CCAs face to cost-effectively decarbonize the electricity grid and preserve reliability and resilience for their customers, said Cedric Brehaut, Vice President of Cloud Solutions at Stem. PowerBidder Pro's configurability, cutting-edge analytics, advanced price forecasting and bid optimization, and seamless automation offers CCAs the opportunity to develop and automate customized trading strategies at scale for the benefit of the more than 14 million Californians they serve," he added. "With our expanding footprint across CAISO and ERCOT, Stem is excited to deliver proven bid optimization software solutions to support 3CE and SVCE in their collective efforts to provide clean, reliable, and more affordable energy to their customers."
Dennis Dyc-O'Neil, Chief Operations Officer at Central Coast Community Energy, said, "At 3CE, our highest commitment is to deliver a more reliable and renewable energy supply for the communities and business we serve across California. As a public agency, we are also highly focused on the value we get from the solutions we procure. Stem's PowerBidder Pro application offered the most extensive capabilities to help 3CE efficiently manage our BESS in the CAISO wholesale market and pass on the benefits to our customers."
Monica Padilla, Incoming SVCE CEO at Silicon Valley Clean Energy, said, "Energy storage has always been a key part of SVCE's clean energy strategies as a way to diversify our energy portfolio, extend clean energy delivery, and enhance grid reliability. SVCE selected Stem's PowerBidder Pro for its superior customization and controls that gives us the oversight we need while honoring real-time BESS constraints in CAISO and existing resource agreements. We are proud to be delivering continued value to our customers through strategic investments in the transition to a cleaner, more efficient energy supply."
PowerBidder Pro is expected to begin supporting the CCAs in 2024. The software will manage three resource sites that will help the CCAs achieve their emission reduction goals, although the overall value of these assets is highly dependent on bid strategy, market conditions and contract constraints. Available on the Athena platform, Stem's PowerBidder Pro will be instrumental in managing the CCAs' storage assets currently or soon-to-be online in CAISO. PowerBidder Pro's scalability is also expected to help the CCAs drive returns and manage risks effectively by seamlessly managing trading strategies as their BESS portfolio grows and evolves.
Learn more about PowerBidder Pro at stem.com/powerbidder-pro.
Posted In: STEM
