Computer hardware and softwares maker IBM on Friday said it has signed a multi-year collaboration agreement to build an artificial intelligence-enabled (AI) asset management platform for India Grid Trust (IndiGrid), an infrastructure investment trust.
IndiGrid will deploy a hybrid cloud solution with IBM Maximo Application Suite running on the secure and open IBM Cloud to optimize the quality and utilization of its assets throughout their lifecycle, according to a statement.
The deployment will also increase productive uptime through preventive and predictive maintenance, drive efficiency as well as reduce operating costs to deliver better value to its investors, the statement added.
“For India’s energy companies, constant upkeep of critical infrastructure is paramount to ensure reliable, safe, and uninterrupted services. The operational and financial impact of these assets are multifold,” Kamal Singhani, Country Managing Partner – IBM Services, India/South Asia, said.
IndiGrid currently has 11 operating projects consisting of 28 transmission lines with more than 6,280 circuit kilometres length and nine substations with 11,460 mega volt amp transformation capacity and plans to grow its asset base in transmission and solar sector.
“By capitalizing on new AI and cloud capabilities to bring Industry 4.0 live in action and gain from it, IndiGrid is paving the way for the industry. 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,” Singhani added.
Through digital transformation with IBM Services, IndiGrid will be able to monitor, manage and maintain its multi-component assets efficiently and leverage AI for detecting anomalies at scale.
“IndiGrid has adopted a long-term Reliability Centered Maintenance (RCM) approach to manage its assets with utmost safety, reliability and efficiency… This approach is laid on the back of industry-leading process standardization, predictive and risk-based maintenance practices and also upskilling of its workforce for digital asset management,”Satish Talmale, COO, IndiGrid said.
Dual-listed IndiGrid is the first Infrastructure Investment Trust (“InvIT”) in the Indian power sector. It has assets under management worth about Rs 139 billion ($1.88 billion). The investment manager of IndiGrid is majority owned by KKR.