Danish Enfor improves 15 percent of the world's energy forecasts

Challenge

The share of renewable energy in the energy systems of European countries is increasing year by year. With fluctuating energy sources such as wind as one of several key energy sources, balancing energy systems across countries presents a concrete challenge, as energy production is not constant.

This challenge includes uncertain data about energy supply, transmission, and trading prices. The task, therefore, is to ensure a stable energy supply—and a stable price for energy—as green energy forms play an increasingly significant role in the pan-European energy system.

Solution

The EuroGrid innovation project has primarily developed a digital platform that provides improved forecasts for renewable energy supply, electricity supply, and electricity prices across European countries. The platform offers minute-by-minute descriptions of the current market situation and energy supply, streamlining the energy systems of individual countries. The first phase focused on the Nordic region, with the goal of later expanding the platform to Central, Eastern, and Southern Europe.

Result

Overall, EuroGrid enhances supply security through improved digital forecasts for energy supply. By facilitating a more efficient integration of renewable energy in Europe, EuroGrid has demonstrated potential savings of 200–300 million DKK. Additionally, 15 percent of the world's energy forecasts have become more accurate.

As a result of the project, one of its problem solvers, Danish company Enfor, has hired more employees due to increased workloads, and for the fourth consecutive year, the company has been recognized as a Gazelle company.

"Based on the project, we have contributed to increased precision in forecasts – there is both interest and potential in this. The support we received through the project made it possible to take the risk and invest in the project. Energy Cluster Denmark facilitated the funding for the project and made it less administratively burdensome for us. We successfully completed the project and now have energy traders in several parts of the world testing the product."

– Mikkel Westenholz, CEO, ENFOR.