Latest news with #SeanMcEvoy
Globe and Mail
22-07-2025
- Business
- Globe and Mail
GridBeyond Leads Optimization of 200MW Energy Storage Site in California
GridBeyond, a global leader in smart energy management, and Gore Street Energy Storage Fund plc (LSE: GSF), a leading international energy storage investment fund, over the summer began operating the Big Rock Battery Energy Storage System (BESS) in El Centro, California. Bringing Big Rock live involved a large team of over 20 people coordinating across multiple countries and time zones, comprising data scientists, regulatory analysts and industrial control engineers. At 200 MW / 400 MWh, it is the largest asset managed by Gore Street Capital and GridBeyond and will dispatch power to roughly 200,000 homes in Southern California during peak times. 'This is an enormous battery system and an important source of resiliency to the state of California,' said Sean McEvoy, President of North America at GridBeyond. 'As CAISO's daily Regulation Up/Down requirement is often around 500MW-1200MW in total, this resource alone can provide up to 15%-40% of the state's Regulation Services needs in certain hours.' To ensure maximum return on investment and grid impact, GridBeyond was selected to provide trading and optimization services for the Big Rock BESS. Central to its offering is GridBeyond's proprietary AI-based Bid Optimizer, which matches market price forecasts with real-time battery performance simulations to drive optimal bid strategies in the CAISO market. 'We are pleased to partner with a high-quality counterparty like GridBeyond on this landmark project, being able to capture revenues which outperform the market and tolling has been demonstrated by Gore Street for many years,' said Alex O'Cinneide, CEO of Gore Street Capital. 'Big Rock is not only a critical part of California's energy infrastructure, but also a strong example of our ability to deliver for investors at scale and across multiple international markets.' The Big Rock BESS is underpinned by a 12-year fixed-price Resource Adequacy (RA) contract, valued at over USD 165 million over its term. Operated under this RA contract—secured by a Goldman Sachs subsidiary in October 2024—the facility is positioned to generate up to c.40% of its total project revenue through RA payments alone. The facility also benefits from stackable market participation, enabling it to tap multiple revenue streams, including energy arbitrage and ancillary services, as well as the RA contract. The project comes shortly after GridBeyond began commercial operations of the PORT battery in Kanto Japan and in anticipation of three additional battery projects achieving COD in ERCOT (Texas) later this summer.
Yahoo
27-02-2025
- Business
- Yahoo
GridBeyond Will Optimize 200-MW ESS in California
GridBeyond, a global artificial intelligence(AI)-powered energy group, on Feb. 27 announced it has signed a contract with Gore Street Energy Storage Fund to provide scheduling coordinator, trading, and energy optimization services for the 200-MW Big Rock energy storage system (ESS) in Southern California. GridBeyond, among the companies exhibiting at the InterSolar & Energy Storage North America conference in San Diego, California, this week, said its AI-based Bid Optimizer is key to achieving maximum returns in the California Independent System Operator (CAISO) market, as shown during a multi-month simulation with several optimizers. The Bid Optimizer aligns market price forecasts with simulations of battery storage, renewable, and thermal assets to simplify decision-making while ensuring optimal bids that go beyond conventional trading strategies, according to the company. POWER is a sponsor of the event at the San Diego Convention Center. Sean McEvoy, GridBeyond president of North America, told POWER: 'This opportunity with Gore Street Capital leverages GridBeyond's expertise in end-to-end battery management and trading. Our AI-based solutions ensure that our clients' assets are always optimized for maximum performance and profitability.' GridBeyond noted that the California power grid is becoming increasingly reliant on solar power, meaning that energy storage systems are key to mitigating to mitigate the intermittency of renewable power generation. The company said that 'effective management of Gore Street Capital's 200-MW energy storage battery will be critical in storing excess solar energy during peak generation and releasing it during high-demand periods, reducing reliance on fossil fuels and supporting grid stability, while generating revenues.' GridBeyond's CAISO optimization and proprietary must-offer strategy will be part of fulfilling the Big Rock Resource Adequacy contract acquired by a Goldman Sachs subsidiary in October 2024. Alex O'Cinneide, CEO of Gore Street Capital, said, 'Gore Street is committed to achieving the very best returns for all of its assets under management. We are therefore very pleased to have selected GridBeyond to partner with as Big Rock goes into operation and we move forward with the project.' 'We are thrilled to partner with Gore Street Capital on this energy storage project,' said McEvoy. 'This deal highlights our commitment to advancing energy storage optimization solutions and shows once again the accuracy of our AI-based solutions in delivering greater value for our customers ensuring grid stability, and supporting decarbonization goals.' GridBeyond also is exploring the use of public hourly emissions application programming interface, or API, data to track and calculate the carbon impact of its bidding strategies, which will further enhance the transparency of its optimization services and contribute to measurable environmental benefits. —Darrell Proctor is a senior editor for POWER.
