Powerworks and Capalo AI Announce a Strategic Partnership on Battery Energy Storage in Sweden
Stockholm, Sweden – 11th of November 2024 — Powerworks, a dedicated EPC and TCMA provider specialized in battery energy storage, and Capalo AI, a sustainable growth company specializing in AI-based trading and optimization for energy storage, announce a strategic partnership to operate an advanced 8MW Battery Energy Storage System (BESS) at a 130kV industrial plant in Sweden’s SE3 price area. This partnership combines Powerworks’ civil, high voltage electrical, and IT-engineering and project management expertise, coupled with Capalo AI’s cutting-edge AI-driven trading capabilities, aiming to maximize the battery’s revenue potential across multiple energy markets.
Finding the Right Partners
Powerworks, with its comprehensive knowledge of energy markets and battery applications, has completed the full EPC scope of the BESS project coupled with a technical and commercial management agreement with the client. Powerworks utilized its deep market insights to shape a project strategy focused on high-value market participation, and through a thorough procurement process including a change of BRP, selecting Capalo AI as a trading optimizer partner to unlock potential across both ancillary services and wholesale markets such as intraday trading. This partnership enables the client to tap into diverse revenue streams, enhancing the system’s profitability and resilience.
Capalo AI’s Advanced Optimization for Market Flexibility
Capalo AI will deploy its proprietary Capalo Zeus Virtual Power Plant (VPP) technology to trade the battery in multiple Swedish ancillary markets in parallel with the Nord Pool wholesale exchanges. Capalo Zeus VPP leverages AI-driven optimization to dynamically allocate the battery’s capacity across diVerent revenue opportunities, ensuring the highest returns while adapting to market conditions and physical on-site constraints in real-time. This flexibility allows the system to mitigate market saturation risks and optimize revenue generation across a spectrum of market segments.
Executive Perspectives on the Partnership
“This collaboration with Capalo AI enhances our ability to deliver commercially and technically optimized energy storage solutions,” said Fredrik Lyckvind, CSO at Powerworks. “Our knowledge in energy markets, engineering, and project execution, combined with Capalo AI’s advanced optimization tools, will allow us to unlock the full value of this BESS asset and drive meaningful as well as sustainable returns for our client. “
Henri Taskinen, CEO of Capalo AI, shared his enthusiasm: “Our collaboration with Powerworks aligns perfectly with our growth ambitions in Sweden and beyond. The Capalo Zeus VPP platform will empower the battery to generate maximum returns across Swedish ancillary services and Nord Pool markets, adding value for the client while contributing to a more resilient and adaptive energy system.”
About Powerworks
Powerworks is specialized in battery energy storage project execution and operation. With extensive expertise in EPC and project management, Powerworks enables industrial, utility and developer clients to benefit from optimized energy storage solutions tailored to their specific needs. Through dedicated fleet management services and partnerships, Powerworks assist clients in ensuring maximum market uptime, asset longevity, value- chain transparency and maximized returns.
About Capalo AI
Capalo AI is a sustainable tech company that maximizes the value of energy storage systems across all markets. We combine the most accurate forecast data with cutting-edge AI models to optimize the trading of battery energy storage systems.