VIENNA - November 23, 2017 - (Newswire.com)
Austrian energy tech company cyberGRID makes the transition to much more renewable energy in the electricity grid possible by enabling a market for flexibility and capacity building.
Lead author Seb Henbest, from the 2017 Bloomberg report “New Energy Outlook,” is famously quoted for stating, “The peak year for coal, gas, and oil looks to be 2025, and then it’s all downhill from there. You can't fight the future…” With this in mind, the time is also dawning for much closer relations between consumers, storage providers and Transmission System Operators, the so-called TSOs. The key to secure these new collaborations and to ensure power system stability might be new technologies – an element which is currently being live tested in the EU project FutureFlow.
”We are currently testing new cross border concepts with the goal to integrate internal European electricity market (IEEM) by securing the stability of the grid. In the FutureFlow project we are developing cross-border optimization tools for balancing and re-dispatch as well as the local auction systems which are to be tested between Austria, Slovenia, Hungary and Romania,” explains Milan Vukasović from the Austrian Power Grid.
The FutureFlow project is exploring new solutions for balancing the electricity system and managing flows in the European electricity network. The progressive consumers addressed by the project will be capable of increasing or reducing their consumption in a few seconds, and will in this way be performing functions that are predominantly carried out by traditional, fossil fuel-based, hydro or thermal power plants.
“We are making history,” says Peter Nemcek, VD of Research and Development at cyberGRID. “In projects like FutureFlow we prove, that there is a bright future for flexibility services in the European Power Grid – and at the same time we are bringing new innovate companies together, who can see the perspectives.”
cyberGRID was founded in 2010 as a specialist in the development of innovative Virtual Power Plant (VPP) solutions, located in Vienna, Austria. cyberGRID boosts the efficient use of existing generation resources, storage and the integration of renewable energy resources - and thus continuously contribute to the European-wide research agenda. cyberGRID offers an IT platform for a decentralised grid with storage capacities and large shares of intermittent energy.
If you would like more information about this topic, please contact
Marko Svetina
Managing Director
cyberGRID
marko.svetina@cyber-grid.com
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cyberGRID
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Original Source: The End of the Fossil Fuels Era Could Be Caused by New Collaborations and Storage Technologies
