Optimus Energy has announced a virtual power plant for renewables trading on the Greek wholesale electricity and balancing market. Work is already underway, with Germany-based emsys VPP connecting over 3,500 solar and wind power plants in Greece to its software suite.
Athens-headquartered energy supplier Optimus Energy has contracted Germany’s emsys VPP to supply its virtual power plant (VPP) for trading renewable energy on the Greek wholesale electricity and balancing market.
According to a statement from Optimus Energy, emsys VPP has already begun setting up its VPP for the electricity market, a process that includes connecting over 3,500 solar and wind power plants in Greece.
Optimus Energy’s installed renewable energy portfolio reaches almost 4 GW, equivalent to 50% of Greece’s renewable energy capacity that is traded under the feed-in premium scheme or through direct merchant participation.
The VPP will include solar and wind power forecasts for the connected assets from emsys VPP’s partner company, energy & meteo systems. emsys VPP is also supplying a tailored VPP package that will provide balancing energy services that aim to benefit both the renewable assets, by creating an additional revenue stream, and the grid, by delivering greater flexibility.
The VPP will also enable the qualification of renewable assets for participation in the balancing services market via remote-control tests that will ensure the assets comply with dispatch instructions from Greek transmission system operator IPTO.
Optimus Energy says the software suite will allow it to efficiently manage its portfolio, including the reduction of power generation during periods of negative electricity prices, while also maximizing the value of the portfolio in short-term energy markets.
Stella Zacharia, Optimus Energy CEO, said the collaboration will be instrumental in optimizing the company portfolio’s market potential. “We’re excited to play a pivotal role in enhancing power system stability in Greece, while also accessing the emerging ancillary services market as a valuable additional revenue stream for our expanding renewable energy portfolio,” Zacharia added.
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