CLP Holdings Signs Multi-Year Strategic Commercial Agreement with AutoGrid to Deploy New Energy Solutions across Asia-Pacific Region
Powered by AutoGrid, CLP will optimize their portfolio of microgrids, energy storage units, distributed generation and demand-side resources across China, India, Hong Kong, Australia and South-East Asia
REDWOOD CITY, Calif., Dec. 12, 2018 /PRNewswire/ -- AutoGrid has signed a strategic partnership with CLP Holdings Group, one of the largest investor-owned energy companies in the Asia Pacific region, with 5.2 million customers and a market capitalization of USD $25 billion. This partnership will build the foundation for CLP projects across APAC that leverage artificial intelligence (AI) to achieve real-time optimization of energy assets.
CLP will initially deploy the AutoGrid Flex™ flexibility management platform to build and optimize a microgrid and drive streamlined operations and energy use at the Hong Kong Science and Technology Park, a 54-acre innovation and technology hub. The success of the project will enable CLP to implement flexible capacity management throughout its global operations, including microgrids, energy storage units, distributed generation and demand-side resources. CLP operates power generation, transmission, distribution and electricity and gas retail activities in Hong Kong, mainland China, India, Southeast Asia, Taiwan and Australia. AutoGrid has also been working directly with CLP subsidiary Energy Australia, one of the largest deregulated energy retailers in Australia to offer demand-side management programs.
By 2040, 62 percent of global flexibility capacity will be in APAC, developed through the use of renewable energy technologies and energy storage assets. This trend is driving the market growth for energy flexibility solutions, which is projected to be substantial across the region. By 2030, China's electricity system is projected to reach nearly 40 percent renewables penetration with 23 GW of batteries. In India, renewable energy sources are projected to account for nearly 80 percent of the capacity mix by 2050. In Australia, the convergence of renewable energy sources with flexibility technology will represent nearly 10 percent of electricity generation by 2050.1 All of these trends represent significant opportunities for CLP and AutoGrid.
AutoGrid Flex supports CLP's region-wide vision and will be the catalyst for the multi-national utility to expand its services and product offerings. At the local or distribution system level, AutoGrid Flex will deliver quantifiable operational efficiencies to CLP. The platform will enable CLP to monitor energy use, optimize the operation of DERs such as solar photovoltaic (PV) panels and energy storage batteries, and manage energy demand and supply. In the first stage of the pilot project, CLP will use AutoGrid Flex's machine learning and artificial intelligence capabilities to visualize and forecast building energy load and PV generation, as well as dispatch battery power and shave peak loads in real time.
"Innovation will play an increasingly critical role for our business as the electricity sector enters an exciting time of technological change," said Austin R. Bryan, senior director of innovation and ventures at CLP. "This project, along with our investment in AutoGrid, is an important element in our strategy to capture greater opportunities in the rapidly evolving smart energy space."
"The APAC region will see over $6 trillion of new energy investment in the next two decades – representing about 60 percent of all new energy investments globally during that time. The addition of new flexible energy capacity in China alone will be larger than in the U.S. and Europe combined, and India will add more flexible capacity than either the U.S. or Europe," said Dr. Amit Narayan, AutoGrid chief executive officer. "The combination of AutoGrid's proven technology and CLP's scale and local market knowledge creates a game-changing opportunity for both companies."
1 Source: Bloomberg New Energy Finance, New Energy Outlook 2018
About CLP:
The CLP Group and its holding company, CLP Holdings Ltd., generates, delivers and sells electricity and gas through its regulated business arm in Hong Kong and deregulated arm in mainland China, India, Southeast Asia, Taiwan and Australia. CLP is the one of the largest utilities operating in APAC, with over 5 million customer accounts and nearly 25 GW of generation capacity.
About AutoGrid:
AutoGrid builds software applications that enable a smarter distributed energy world. The company's suite of flexibility management applications allows utilities, electricity retailers, renewable energy project developers and energy service providers to deliver clean, affordable and reliable energy by managing networked distributed energy resources (DERs) in real time and at scale. AutoGrid has more than 3,500 megawatts of DERs under contract with Xcel Energy, National Grid, E.ON, CPS Energy, Total, NextEra Energy and over 35 other leading energy companies around the world.
Media Contact:
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SOURCE AutoGrid
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