Gurobi Optimization, LLC Partners with Uprise to Enhance Battery Energy Storage System Deployment Strategy

Strategic Insights -

Gurobi Optimization, LLC has announced a partnership with Uprise, a trusted expert in transforming Europe's energy landscape. The collaboration aims to help a Norwegian state-owned energy producer, Statkraft, develop an optimized strategy for battery energy storage system (BESS) deployment in Croatia. Uprise, a local energy consultancy and software development firm, was tasked with creating a comprehensive route-to-market study, leveraging Gurobi's decision intelligence technology to simulate hundreds of potential market behaviors and operational trade-offs.

Key Takeaways:

  • Uprise, a Gurobi partner, used the fastest solver on the market to develop an optimized strategy for BESS deployment in Croatia, leveraging expenditure and market data, along with market and technical constraints.
  • The optimization model uncovered a 12-25% increase in forecasted revenue due to the hourly multimarket optimization approach.
  • Gurobi's decision intelligence technology enabled Uprise to generate an optimal trading strategy, financial projections, and key performance indicators, such as internal rate of return (IRR).
  • Statkraft, the largest producer of renewable energy in Europe, relied on Uprise to create a financial model demonstrating the project's viability.
  • Zlatko Ofak, Business Development and Innovation Lead at Uprise, emphasized the importance of speed in the energy sector, where problems exhibit a high degree of complexity.
  • Kresimir Bencic, Senior Project Developer at Statkraft, highlighted the value of the study in analyzing different market approaches and understanding which scenario was best for the project.
  • The partnership between Uprise and Gurobi Optimization, LLC aims to help companies like Statkraft navigate an increasingly complex energy landscape and develop solutions for a more sustainable future.

Statistics:

  • 12-25% increase in forecasted revenue due to the hourly multimarket optimization approach.
  • Hundreds of potential market behaviors and operational trade-offs were simulated using Gurobi's decision intelligence technology.
  • Statkraft, the largest producer of renewable energy in Europe, needed a financial model demonstrating the project's viability.
  • Uprise, a local energy consultancy and software development firm, was tasked with creating a comprehensive route-to-market study.

Sources:

  • Uprise press release
  • Gurobi Optimization, LLC news release