Masdar has signed an agreement with Presight, a leading big data analytics company powered by generative artificial intelligence (AI), to develop an asset management tool for its renewable energy projects globally.
Masdar’s renewable projects generate billions of data points every day from the equipment they use, such as solar panels, inverters and wind turbines. The vast amount of data can be analysed and evaluated to generate valuable insights and enable data-driven decision making.
By developing an AI-based asset management tool, Masdar is seeking to digitise its operations worldwide, moving from a reactive model to a predictive approach where it can analyse data and operational patterns to anticipate issues in advance, enhance efficiency, address failures before they occur, reduce downtime, and ultimately boost energy production.
Through its agreement with Presight, it is using AI technology to make its energy supply smarter.
AI is viewed as having a significant role to play in the energy sector, boosting efficiency and operational patterns while applying predictive analytics to optimise energy grids and increase resilience. It can help support the seamless integration of renewable energy and other energy sources.
Mohamed Jameel Al Ramahi, Masdar CEO, said, “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.”
“The integration between AI and energy is a game-changing economic opportunity that will enable us to build a bridge to a low-carbon, high-growth future. We are pleased to announce this agreement between two UAE-based pioneers that will help to achieve this goal.”
Thomas Pramotedham, CEO of Presight, said 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.
He said, “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.”
AI promises to have a far-reaching, transformational impact on the energy transition and is projected to add $7 trillion to global GDP over the next ten years. It has the capability to change the pace of progress by maximising energy efficiency and minimising emissions at scale.Masdar has developed and partnered in projects in over 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100GW by 2030 and aims to become a leading producer of green hydrogen by the same year.
Dr. Faye Al Hersh, Head of Business Development – UAE Green Hydrogen, will share her insights on ‘The Green Hydrogen Value Chain to 2030’ at the gasworld MENA Industrial Gases Conference in Abu Dhabi between November 18-20. To attend, click here.
Read more on AI in the technology-themed November issue of gasworld global
