News

IP Group Australia New Zealand-backed OptiGrid, a South Australian AI-driven energy management company, has closed a ground-breaking deal with a community-owned renewable energy co-operative.   

Hepburn Energy is Australia’s first community-owned wind farm and has been powering change in energy and renewables at rural Leonard Hill, near Melbourne, since 2011.
Like most Australian solar and wind farms, Hepburn Energy’s operations are interrupted by fluctuating wholesale energy prices. When exposed to negative wholesale prices, it has to suspend operations.

Hepburn Energy selected OptiGrid’s AI-enabled energy market bidding technology to manage the operation of its new 5MWh battery which is scheduled to come online in August.
Investment Manager at IP Group ANZ, Dr Shane Meaney, says OptiGrid’s technology has massive potential to maximise the performance of energy assets.

“Improving the efficiency of energy grids will bring prices down for consumers and accelerate the deployment of large-scale storage – these will both accelerate the move to net zero,” Mr Meaney said.

“OptiBidder uses AI and machine learning to intelligently manage energy market bidding, maximising revenue while recognising market rules and technical constraints. 

“Hepburn Energy’s existing 4.1MW wind farm has delivered great benefits to its 2,000 members and the broader community, but the interruptions have delayed its goal of transitioning the locl community to zero-net emissions by 2030.”

OptiGrid officially launched into the market in 2024 with support from investors led by IP Group and including Clean Energy Finance Corporation, Hostplus, University of Adelaide, University of New South Wales (UNSW) and EnergyLab. 

The Hepburn Energy deployment will bring total energy assets under management by the OptiGrid platform to 40MW in the last three months.