IndiGrid Partners With IBM to Build AI-Enabled Asset Management Platform

IndiGrid has signed a multi-year collaboration agreement with IBM to build Artificial Intelligence (AI)-enabled asset management platform.

India Grid Trust (IndiGrid) has announced that it has signed a multi-year collaboration agreement with tech-giant IBM to build Artificial Intelligence (AI)-enabled asset management platform. The IBM Maximo Application Suite will allow IndiGrid to become future-ready by improving the overall health of its assets and maximise the full potential of their operating life while adhering to safety and regulatory guidelines, a company statement said.

Through this digital transformation with IBM Services, the Infrastructure Investment Trust will be able to monitor, manage and maintain these multi-component assets efficiently and leverage AI for detecting anomalies at scale – thus proactively preventing their breakdown and boosting availability, it added.

“IndiGrid has adopted a long-term Reliability Centered Maintenance (RCM) approach to managing its assets with utmost safety, reliability and efficiency. This collaboration with IBM will enable IndiGrid to lead the sector transformation from the conventional-corrective practices to preventive and resilient-RCM approach,” Satish Talmale, COO, IndiGrid said.

Enterprise asset management (EAM) is crucial for obtaining the insights and visibility needed to maintain and control intelligent assets and equipment.

The firm currently has 11 operating projects consisting of 28 transmission lines with more than 6,280 circuit KMs length and 9 substations with 11,460 MVA transformation capacity and plans to grow its asset base in the transmission and solar sector.

“With IBM’s Maximo Application Suite running on IBM Cloud, IndiGrid will be able to take the preventive, predictive and prescriptive actions required to reduce risk, lower costs and improve efficiencies – helping them to realize their vision to be the most admired yield vehicle in Asia,” said Kamal Singhani, Country Managing Partner – IBM Services, India/South Asia.

According to International Data Corporation (IDC), monitoring performance and scheduling repairs with predictive maintenance alone can reduce costs by 15 to 20 percent, improve asset availability by 20 percent and extend the lives of machines by years.

In September, we had reported that solar asset management firm WiseEnergy had formed a partnership in India with Actis, signing a multi-year contract to provide comprehensive Asset Management Services for a 550 MWp (400 MW AC) solar portfolio in India that Actis Long Life Infrastructure Fund (ALLIF) had recently acquired.

In November, Prescinto had announced that Radiance Renewables had hired them to be their primary monitoring and performance analytics software partner. The Ahmedabad-based Prescinto’s solution to aggregate data from all types of energy sources into one single analytics platform will be used for monitoring the solar asset portfolio efficiency of Radiance.