algoWatt, GreenTech Solutions company listed on Borsa Italiana’s electronic stock exchange (MTA), announces that the kick-off meeting of the research project VPP4Islands (Virtual Power Plant for Interoperable and Smart isLANDS), of which it is a partner, for the integration of renewable systems in islands with complex Virtual Power Plant (VPP) systems, will be held on 22 and 23 October.
The project has been funded by the European Commission under the Horizon 2020 programme, with a total grant of around Euro 6.1 million (algoWatt share of about Euro 0.4 million), divided among the members of a Consortium made up of 2 large companies, 1 DSO (distribution systems operator), 6 SMEs, 3 universities, 2 RTOs (regional transmission organisations), 3 island municipalities and 2 non-profit organisations.
VPP4Islands aims to accelerate the transition to smart and green energy and to help islands exploit the potential for energy efficiency and innovative storage approaches, promote active citizen participation and become self-sufficient in energy, while reducing costs, greenhouse gas emissions and dependence on heavy fuel oil for energy production, creating new smart activities, growth and skilled jobs locally.
To achieve these objectives, the VPP4Islands project proposes disruptive solutions based on the concept of Digital Twin (DT), Virtual Energy System Storage (VESS) and Distributed Ledger Technology (DLT) to revolutionize the concept of Virtual Power Plant (VPP) and build smart energy communities. To validate and evaluate the solutions, significant use cases are planned with the use and coordination of different energy assets in two main islands (Formentera in Spain and Gökçeada in Turkey).
The VPP4Islands qualified solutions will then be replicated in three other islands (Bornholm in Denmark, Bozcaada in Turkey and Grado in Italy), in order to launch sustainable and smart energy plans to promote on a large scale the synergy and flexibility of the combination of renewable energy sources, integrated in a unique portfolio of resources.
algoWatt will enhance its partnership in the project by consolidating its scientific and technological expertise in the field of green solutions for the intelligent integrated management of energy resources.
About algoWatt
algoWatt (ALW), greentech solutions company, designs, develops and integrates solutions for energy and natural resource management in a sustainable and socially responsible manner. The Company provides management and control systems that integrate devices, networks, software and services with a clear sector focus: digital energy and utilities, smart cities & enterprises and green mobility. algoWatt is the result of the merger of TerniEnergia, a leading company in the renewable energy and environmental industry, and Softeco, an ICT solutions provider with over 40 years of experience for customers operating in the energy, industry and transport sectors. The company, with more than 200 employees located in 7 locations in Italy and investments in research and innovation for more than 12% of turnover, operates with an efficient corporate organization, focused on the following markets: Green Energy Utility: renewable energy, digital energy, smart grids; Green Enterprise&City: IoT, data analysis, energy efficiency, building and process automation; Green Mobility: electric, shared and on demand. Different markets, a single focus: sustainability. algoWatt is listed on the Mercato Telematico Azionario (MTA) of Borsa Italiana S.p.A..
