In the end, the key issue is participation. So, from our point of view, a democratized energy world is an energy world in which more and more players can participate. This development has already started. These days, it is not a privilege of huge energy companies to build power plants and produce power, because the costs to do that have drastically been reduced. It is not necessary anymore to spend billions of Euros on new power plants, as they are doing for example at Hinkley Point. Our mission is to provide the opportunity for smaller producers to take part in a market which has been inaccessible for them before, and we foster the expansion of renewable energy power plants by providing flexibility.
How would you explain the concept of your Virtual Power Plant to someone who never heard of it?
We digitally connect small- and medium-sized power producing as well as power consuming units and, in doing so, aggregate their performance. We then sell the power at the electricity markets and feed it into the energy system to stabilize the grid. To be clear, we do not own one single unit, but with our technology and the consent of the owners, we can ramp the units up and down as if we were a real power plant. To put it into perspective, we have aggregated an overall capacity of 3,400 MW. This is the capacity of two large coal-fired power stations. However, we are almost 100% renewable.
The EU is moving towards a bottoms up decentralized, community based energy system which relies on renewable energy. Small energy producers are PAID to produce power for the grid, which then gives incentive to invest in renewable energy on a local level, via INDIVIDUALS and small groups of investors.
The money from local renewable energy stays in the community and produces sustainable jobs, rather than leaving the community via huge monopolies that siphon off the profits and send them overseas or up to the 1 percent, which then corrupts government and buys off politicians.