Energy company Masdar signed an agreement with data analytics company Presight this week to develop an AI-based asset management tool for its global renewable energy projects.
According to Masdar, the new AI asset management tool will help digitise its operations and assist the company in moving to a predictive approach. This, it said, will enable the analysis of data and operational patterns to anticipate issues, enhance efficiency, address failures before they occur, and reduce downtime.
“With our history of developing projects using cutting-edge clean energy technologies, it was a natural progression for Masdar to explore the potential for deploying AI across energy systems to enhance efficiency and deliver data-driven decision-making,” said Masdar Chief Executive Officer Mohamed Jameel Al Ramahi.
Thomas Pramotedham, CEO of Presight, explained that clean energy has a number of specific operational needs, from managing shifting supply throughout the day to efficiently merging with other forms of energy in the grid, adding that Masdar generates billions of data points across its portfolio, which is set to reach 100GW by 2030.
“This partnership therefore represents a unique opportunity to develop a bespoke tool that consolidates all that information, uncovers hidden insights and takes action to improve efficiency, predict maintenance needs, and ultimately increase the supply of renewable energy. This will be transformational for the sector, and so I’m looking forward to seeing this collaboration progress,” said Pramotedham, commenting on the partnership.