6 months after its participation in the Belgian economic mission to Japan in december 2022, N-SIDE has signed a contract with the Japan Electric Power Exchange (JEPX). The Louvain-la-Neuve-based scale-up will supply an algorithm to optimise the matching of supply and demand on the Japanese electricity market. Already tried and tested on the European and Indian markets, this artificial intelligence tool will accelerate the transition to renewable energy sources and electrification in the Land of the Rising Sun.
The integration of N-SIDE’s Power Matching Algorithm into JEPX’s systems will contribute to a more efficient and sustainable electricity market in Japan. The algorithm will optimize supply and demand matching in a closed-gate auction fashion, ease the implementation of complex bid types, and accommodate a large number of market participants. Ultimately, it will support the sustainable growth of the electricity market and contribute to carbon neutrality in the Archipelago.
Based on a mathematical optimization model, N-SIDE's Power Matching Algorithm is renowned for its accuracy and efficiency in setting day-ahead electricity market prices and executed volumes. It has been operating on the European electricity market for over 10 years and has been deployed on two of India's largest power exchanges for the past two years. Following the collaboration with Japan Electric Power Exchange, N-SIDE will now power three of the world’s largest open integrated electricity markets.
Philippe Chevalier, CEO at N-SIDE, expresses his enthusiasm for the unprecedented collaboration, stating, “We are delighted to partner with Japan Electric Power Exchange and to bring our power matching algorithm to the Japanese electricity market. We believe that our collaboration will drive positive change and help shape the future of the Japanese electricity sector. Moreover, this partnership marks our entry into the Japanese market, with a new office in Tokyo, and demonstrates our commitment to pursue our international expansion”.
“N-SIDE's industry expertise and cutting-edge power matching algorithm provide us with the assets to nurture our vision to foster a dynamic and efficient electricity market in Japan. By seamlessly integrating their powerful algorithm into our platform, we aim to empower market participants with the exchange system that contribute to improve market fluidity and achieve a more sustainable energy landscape”, comments Anzaki Satoshi, IT System Engineer at JEPX.
The partnership between N-SIDE and JEPX represents a significant step forward in the optimization of Japan's day-ahead electricity market. It combines N-SIDE's innovative solutions with JEPX's extensive market knowledge and expertise, creating a formidable force that will reshape the electricity trading system in Japan to help the energy field to speed up the integration of renewable energy sources.
This partnership marks a major turning point for the company in its ambitions for growth and internationalisation. N-SIDE, which already has offices in the United States, plans to open an office in Tokyo and hire local staff to operate its business.
For more information, contact:
Justin Gellezak
Corporate Communications Manager
+32 496 47 03 66
