Toronto, ON, August 29th, 2019 – Today, Peak Power Inc. (“Peak”) announced a partnership with Saturn Power (“Saturn”) to provide software services for an upcoming energy storage project in Ontario. Saturn Power has been active in the Battery Storage and Global Adjustment market since 2017 and continues to make advancements in securing Behind the Meter projects in Ontario.
“Given the significant benefits that battery storage projects can provide to our clients, Saturn Power wanted to invest in a software solution that would maximize the value gained from a Battery Energy Storage System.” Said Tai Nguyen, Chief Investment Officer at Saturn Power.
Peak, using it’s AI-powered Synergy™ platform that has been deployed in 4 ISO regions, will optimize battery operation to capture multiple value streams. These include reducing Global Adjustment (“GA”) and Demand Charges for Saturn’s clients, as well as participation in various IESO market programs.
“We’re looking forward to working with Saturn Power on this upcoming battery project in our home market,” said Peak Power CEO, Derek Lim Soo. “This agreement with a fellow Ontario-based company is an ideal step in the growth journey for both of us.”
Peak Power’s software has predicted all IESO GA peaks with a 95% dispatch accuracy since 2017. This performance has translated to Peak’s other active markets, with a 100% prediction accuracy for New York ISO’s Installed Capacity (“ICAP”) tag, and a 100% prediction accuracy for ISO New England’s monthly coincident peaks.
About Saturn Power:
Saturn Power, founded in 2007, has developed and contracted over 200 MW of solar, battery storage and wind power projects, including developments in Ontario, Western Canada, the United States, Turkey and Bermuda. The company, which also has expertise in project financing, engineering, procurement and construction (EPC) as well as the operation and maintenance of existing renewable assets, has been actively engaged in the BESS and energy storage markets since 2017.