The OptimRES project aims to develop a groundbreaking platform to support the operation and decision-making of Renewable Energy Sources (RES) and Battery Energy Storage Systems (BESS) plants, to enhance the viability of green investments, to support the green transition, and to reduce environmental impact.
The penetration of RES into the power system is expected to increase rapidly in the next years in Europe, towards a climate neutral economy. BESS is an emerging technology able to compensate for the drawbacks of RES in power system operation and thus, to accelerate green transition. Moreover, BESS can be used in capacity-constrained RES sites, where a maximum export capacity (MEC) limit is applied, to store the surplus power generation and avoid RES curtailments while increasing producers’ profitability. The massive deployment of RES and BESS into the power grid along with the evolution of electricity markets, where the RES participation is promoted, create new opportunities for increasing the profit of RES-BESS owners by optimizing their planning, bidding, and operation via intelligent decision-making.
Towards this direction, the OptimRES platform will be developed and applied in a real-life distributed generation plant combining wind turbines, photovoltaics, and BESS, where innovative planning, forecasting, bidding, and real-time control solutions will be integrated forecasting. The OptimRES platform helps owners of single (RES only) or hybrid (RES-BESS) generation technologies to techno-economically optimize the planning and sizing of generation facilities. In addition, the platform will assist RES-BESS owners to make informed decisions in both day-ahead and balancing markets to maximize their profits, considering price and RES generation uncertainty as well as battery degradation. The platform will also enable sophisticated real-time control of RES-BESS systems to increase the controllability of RES, allowing a smooth integration of green technology without compromising the power system stability.
The OptimRES project is a strategic collaboration between the KIOS Center of Excellence at the University of Cyprus (coordinator) and two enterprises, H. Wise Wire Energy Solution Limited and T.P. Aeolian Dynamics Ltd.
The project is supported by the Republic of Cyprus and the Cyprus Research and Innovation Foundation under grant agreement CODEVELOP-REPowerEU/1223/0097 (OptimRES), through the European Union’s NextGenerationEU initiative and the Recovery and Resilience Plan of Cyprus (Cyprus – Tomorrow).
