Uprise and Gurobi partner to optimise BESS deployment in Croatia

Statkraft, the largest producer of renewable energy in Europe, needed a financial model demonstrating the project’s viability. Statkraft turned to Uprise, a local energy consultancy and software development firm, for help developing a comprehensive route-to-market study.

As a Gurobi partner, Uprise was able to leverage the fastest solver on the market – a quality that was critical to the success of Statkraft’s project.

Zlatko Ofak, Business Development and Innovation Lead at Uprise, explained: “In the energy sector, speed is extremely important and problems exhibit a high degree of complexity. For example, energy portfolio and electrical power grid optimisations are typically performed daily, often multiple times per day, and usually with strict time constraints.”

Using expenditure and market data, along with market and technical constraints, Uprise modelled the Croatian market and used Gurobi to generate an optimal trading strategy, financial projections, and key performance indicators, such as internal rate of return (IRR).

By simulating hundreds of potential market behaviours and operational trade-offs, the optimisation model uncovered the best path forward – including a 12-25% increase in forecasted revenue due to the hourly multimarket optimisation approach, plus detailed insight into optimal day-to-day market strategy approaches.

Krešimir Bencic, Senior Project Developer at Statkraft, commented: “With this study, we were able to analyse different market approaches and understand which scenario was best for us in order to move forward. We now have the information we need to present to the board, and we got some valuable feedback that we will also be able to use if we move forward with other battery projects in the future.”

Duke Perrucci, CEO of Gurobi Optimization, concluded: “We are proud to partner with Uprise to help companies like Statkraft navigate an increasingly complex energy landscape and develop solutions that are powering a more sustainable future.”

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