FlexGen, the leading energy storage technology company, announced today the introduction of a new service out of its FlexGen Digital Twin. The service is a project feasibility report (PFR) that accelerates the analysis of the viability and opportunity for energy storage assets.
Firstly, the PFR is particularly aimed for developers, Independent Power Producers (IPPs) and asset owners. As said above, through the company’s Digital Twin, the users can determine the potential of revenue from a project.
Secondly, the PFR can also determine the project’s lifecycle, also its costs, through modeling multiple scenarios; as well as study the grid impact for interconnection. Then it can transition to the execution of the project with certainty in budget, performance and timeline.
Thirdly, eleven energy storage developers and IPPs and have already entered into a PFR agreement with FlexGen. Overall, they represent 11 gigawatt-hours of energy storage pipeline. The projects include solar, wind, hydro, landfill gas and thermal sources.
Moreover, Yann Brandt, CFO of FlexGen, said about the matter. “’Does storage work for our project’ is the most common question we get from current generation owners; regardless of their existing source.”
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FlexGen the ideal partner for energy storage owners
He also added. “By providing an investment-grade report, we provide the Return Of Investment analysis and technical support that gets a project off the ground.”
On the other hand, Kelcy Pegler Jr., FlexGen’s CEO, commented. “We are meeting our customers earlier in their process; we provide the engineering services to get projects green-lit which is another example of FlexGen being the ideal partner to energy storage owners for the long term.”
He also remarked. “The most exciting thing about the year to come is how many first-time energy storage owners we will help create.”
Finally, FlexGen has built a suite of software applications that has been tested to NERC standards; and indeed, qualified by every major ISO and RTO. Consequently, the FlexGen Digital Twin allows the energy storage system to manage a constructed project to the original pro forma; or determine if a deviation is an improvement to the investment pro forma through the HybridOS AI platform.