Cloud-based solution to support meeting new wholesale electricity market requirements under the European Target Model to increase competition, security of supply and transparency
London, 29th August 2017: Brady, a leading global provider of trading, risk management and settlement solutions to the energy, commodities, and recycling sectors, announced today that Brookfield Renewable Ireland Limited, a leading owner, operator and developer of wind assets in Ireland has selected Brady’s I-SEM Cloud solution for electricity trading and settlement in the new Integrated Single Electricity Market (I-SEM).
I-SEM is a new wholesale electricity market arrangement for Ireland and Northern Ireland, designed to integrate the all-island electricity market with European electricity markets in alignment with the European Target Model, which aims to deliver increased levels of competition, security of supply and transparency.
As an established player in the Irish market, Brookfield Renewable requires a robust and scalable solution to cover the full trading and operations process for the new I-SEM setup. Brady is leveraging its product knowledge and European market experience to deliver the new I-SEM solution.
Brookfield Renewable Ireland commented: “Brady’s trading and settlement system offered us the capability to build a single bespoke solution to meet the requirements of I-SEM and importantly with the flexibility and scalability to grow with our business as we enter new European markets”.
Ian Jenks, chairman of Brady commented: “The introduction of I-SEM poses significant challenges for all-Irish market participants including those not familiar with the concept of trading and auctions in relation to the electricity market. Brady have developed an I-SEM software product for this market. We are very pleased to build on our existing relationship with Brookfield Renewable by working with them through this exciting period of transition to I-SEM, through market trials, and as these go live. With 30 years’ experience in successfully delivering software to support energy trading and operations across Europe we are thrilled to be able to contribute to Brookfield Renewable’s growth within I-SEM and beyond.”
About Brookfield Renewable
Brookfield Renewable Partners operates one of the world’s largest publicly-traded pure-play renewable power platforms. Its portfolio consists of hydroelectric and wind facilities in North America, Latin America and Europe and totals more than 10,000 MW of installed capacity. Brookfield Renewable is listed on the New York and Toronto stock exchanges.
In Europe, Brookfield Renewable’s portfolio consists of approximately 500 MW of operating wind capacity across Ireland, the United Kingdom and Portugal, and the company has a wind development pipeline in excess of 1 GW.
Brady is the largest European-headquartered provider of trading and risk management software to the global commodity, recycling and energy markets. Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined metals, scrap and secondary metals, soft commodities and agricultural products.
Brady has 30 years’ expertise in the commodity markets with over 400 customers worldwide, who depend on Brady’s software solutions to deliver vital business transactions across their global operations. Brady clients include many of the world’s largest financial institutions, trading companies, miners, refiners, scrap processors, recyclers and producers, tier one banks, and a large number of London Metal Exchange (LME) Category 1 and 2 clearing members and many leading European energy generators, traders and consumers.