enercast GmbH, a Kassel, Germany-based energy forecasting service provider, is to receive an up to €2.25m first funding.
Led by CEO Thomas Landgraf, the company intends to use the funding for technical advancement and network expansion.
By working with the Fraunhofer Institute for Wind Energy and Energy System Technology (Fraunhofer IWES), enercast developed a forecast algorithm which integrates renewable energies (wind and solar) into the electricity supply, enabling location-specific electricity generation forecasts at 15 minute intervals.
The forecast service is based on meteorological data such as wind speed, air pressure, temperature and measured power data from wind turbines. In addition, for photovoltaics there are satellite images on irradiation and data from more than 36,000 photovoltaic systems of the solar power monitoring network of SMA Solar Technology AG.