The partnership aims to help utility firms optimise their revenue generation and customer services through management and increased integration of distributed energy and renewable energy resources with grid networks.
In a combined statement, Entega AG and Hitachi said they partnered to improve their services in the automated energy trading sector.
Under the six-month partnership, Hitachi will be assisted by Citiworks AG to further develop its solution for real-time control of energy and heat generation systems.
[quote] CitiWorks AG is an energy trading and energy service company for the German energy market.
Hitachi will combine its experience in the development of data analytics, trade optimisation, machine learning, and energy generation and distribution systems with CitiWorks' experience in helping utilities optimise their operations through the use of automated algorithmic energy trading.
CitiWorks will deploy the developed software in Entega AG's grid systems. CitiWorks AG will also be responsible for the marketing of the new software in the global smart grid market.
Energy storage and renewable energy resources
As utility companies increase their investments in clean energy generation to stabilise grid networks and reduce carbon emissions, the energy storage market is also expected to rise as it is such a vital segment for increased integration of grid networks with renewable energy resources.
In the last quarter of 2016, integrated electricity firm, EDF, partnered with Germany-based energy storage company, Stornetic, to develop an advanced energy storage solution.
In a combined statement, the two parties wrote that their collaboration “serves to assess the performance of flywheel energy storage solution facing the requirements of a modern grid environment.”
French-headquartered EDF and Stornetic will focus on developing an energy storage solution to help utility firms increase their renewable energy capacity on grid networks.
In addition to just helping in increasing clean energy capacity on grid networks, the solution to be developed will ensure utility firms are able to meet energy demands during peak periods through frequency regulation. Read more...
Image credit: Hitachi