UAE-based Masdar has teamed up with Presight to create an AI-based asset management tool to manage its renewable energy projects globally.
The partnership aims to harness the billions of data points generated daily by Masdar's equipment, such as solar panels and wind turbines.
Presight CEO Thomas Pramotedham stated: “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. As a global clean energy leader, Masdar generates billions of data points across its extensive portfolio.
“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.”
By leveraging big data analytics powered by generative AI, the tool will facilitate a shift from reactive to predictive maintenance strategies.
By digitising its operations, Masdar seeks to anticipate issues before they arise, reducing downtime and increasing energy production.
The development of the AI tool marks a significant step for Masdar in adopting a predictive approach to asset management.
It will transform how the company manages its renewable energy assets and maintains equipment efficiency.
Masdar CEO Mohamed Jameel Al Ramahi stated: “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.”
In September 2024, Masdar unveiled its plan to acquire Saeta Yield from Brookfield Renewable and its institutional partners for an implied enterprise value of $1.4bn (€1.2bn).
