Leading players in Europe’s energy services market are entering into technology partnerships to develop advanced virtual power plants (VPPs). Recent developments reveal that Energy2market, a prominent VPP operator in Europe, will be collaborating with Finland-based energy services group, Savon Voima, for developing virtual power plant technologies that provide better access in management of demand-side operations. The partnership between Energy2market and Savon Voima is expected to deliver better and easier accessibility in selling flexible power consumption and production from Finland to the reserve and balancing energy markets.
Joining forces for development of virtual power plants, which are essentially an assemblage of small-scale generators made from a pool of distributed energy resources such as CHP units, backup generators and biogas plants, can instrument the advancements in energy markets across the globe. Energy2market and Savon Voima are planning to launch an advanced VPP that can provide better access to Finland’s demand-side management of energy services.
High Uptake for VPPs in Finland’s Energy Markets
In the Finnish energy markets, VPPs are being dubbed to gain considerable momentum. This is observed to be the primary causative factor influencing Energy2market and Savon Voima towards entering into technology partnerships. According to Savon Voima Group’s CEO, key challenges for emerging energy markets is incurring the presence of trusted and reliable partners for exploring opportunities that help in extracting maximum value while steering the revenues from all available energy resources. This collaboration is aimed at providing Finland’s energy markets an independence from energy imports and renewable energy procurement.
Being a part of energy revolution in modern era, virtual power plant technologies hold the key to bolster climate targets for developed regions such as Europe. Energy2market revealed that virtual power plants being developed through collaboration will be spanning beyond Finland, becoming integrated parts of European energy markets. With energy sector in Europe becoming decentralized and digitalized, optimizing energy consumption and production is becoming more pivotal in this region. By providing controllable energy production through advanced virtual power plant technologies, these companies will be contributing towards balancing the energy fluctuations across Finland’s power grids.
Balancing Production with Consumption
The companies are also expecting a support from customers in Finland. The company expressed that flexibility in consumption can translate considerable profits in operating of these VPPs. Through active interventions, consumption and production of energy from virtual power plants will be balanced. Moreover, these interventions may also boost the production of carbon-free energy at sufficient utilization of VPP technologies.
Such collaborations are expected to play a key role in the global market for virtual power plants. Their application expanse is not limited to Finland, and within a few years virtual power plants are likely to witness widespread adoption in the world. An ongoing study by Transparency Market Research projects that the demand for balancing power grid outputs will continue to drive the market for virtual power plants in Finland, Europe and other parts of the world.
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