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    500400   INE245A01021

THE TATA POWER COMPANY LIMITED

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Tata Power : National Tata Power and Bluwave-ai join hands for AI Automation of Real-Time Electricity Operations in Mumbai

10/07/2021 | 07:46am EST

Tata Power, India's largest integrated power utility, announced that it has signed a three year commercial agreement with BluWave-ai, the world's first renewable energy AI company.

This agreement comes at the conclusion of a successful trial project during which Tata Power evaluated the performance of the BluWave-ai cloud platform to generate intra-day and day-ahead dispatches for use in its power scheduling operations.

India recently put measures in place to mandate accurate energy scheduling and introduced a real-time market to improve onboarding of renewable energy in the national grid. As a result, electricity distribution companies now face strict penalties for deviation from planned energy usage, which increases with inaccuracy in power scheduling. As an innovator in its industry, Tata Power decided to activate the potential of artificial intelligence (AI) to optimize power scheduling and thus address the new regulatory changes.

The company has deployed a few AI solutions such as The Central Control room for Renewable Assets (CCRA) which uses Machine Learning based on loss estimation, forecasting and alert/notification. In order to optimise the coal supply and order inventory management, Tata Power'sCoastal Gujarat Power Limited (CGPL) and Maithon Power Plant (MPL) units also use the pit to plant Coal Supply Management (Coal SCM) and Management Strategic Review (MSR) solutions. In addition to this, the company's Mumbai Distribution team has implemented a sentiment analysis tool for email classification and routing which will help in proactive assessment of consumer needs.

Apart from forecast provided by BluWave, PSCC team has also developed and implemented change over load prediction and RTM optimization which utilizes neural network and linear programming respectively, thus ensuring optimized power purchase and hence keeping the power purchase cost at the optimum levels. The leadership demonstrated by Tata Power and BluWave-ai was recognised with an India Smart Grid Forum (ISGF) top-level 'Diamond Trophy' in the Utility Distribution category. The award recognizes the and benefits of the BluWave-ai's method for forecasting energy consumption load at Tata Power.

'We are working with BluWave-ai to operationalize Artificial Intelligence in our day to day power distribution in Mumbai. Working with AI enabled system improvements via cloud computing in real-time operations enhances our baseline systems resulting in higher operational efficiency and accuracy.' said Mr.Sanjay Banga, President, T & D, Tata Power.

'Our team at BluWave-ai has sought out innovative early adopters of complex AI technologies to onboard our products. We have focused on working with leading global energy companies, such as Tata Power, to build the world's premier AI cleantech company,' said Devashish Paul, CEO of BluWave-ai.

Adding further, he said, 'In Canada, our solutions delivered the first real-time AI electric utility dispatch and stand alone industrial applications. We were able to take our platform and quicklytrain it for the Indian market using real-time data from Tata Power Mumbai DISCOM to integrate with its operations. This technology provides our customers a solution that realizes significant financial benefit from the 35,000+ yearly electricity dispatches.'

The BluWave-ai software-as-a-solution (SaaS) has been live in operation 24x7x365 since February 2020. It also adapted rapidly to last year's massive COVID-related shutdowns and the subsequent lockdowns in Mumbai. The current collaboration is signed for three years with an option to extend to five.

About Tata Power

Tata Power together with its subsidiaries and jointly controlled entities, has an installed / managed capacity of 13,061 MW. The Company has presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics and power trading. With 4.2 GW of clean generation capacity from solar, wind, hydro and waste heat recovery accounting for 32% of the overall portfolio the company is committed to clean energy generation. It has successful public-private partnerships in generation, transmission & distribution in India viz: Powerlinks Transmission Ltd. with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi, Maithon Power Ltd. with Damodar Valley Corporation for a 1,050 MW Mega Power Project at Jharkhand. Tata Power is currently serving around 12 million consumers via its Discoms viz Tata Power Delhi Distribution Ltd. with Government of Delhi for distribution in North Delhi; TP Northern Odisha Distribution Limited, TP Central Odisha Distribution Limited, TP Western Odisha Distribution Limited and TP Southern Odisha Distribution Limited with Government of Odisha. With a focus on sustainable and clean energy development, Tata Power is steering the transformation into integrated solutions providers by looking at new business growth in distributed generation through rooftop solar and micro grids, storage solutions, EV charging infrastructure, ESCO, home automation & smart meters et al.

About BluWave-ai

BluWave-ai is supporting the global energy transition with technologies that enable the widespread adoption of renewable energy generation, smart grids and vehicle electrification. Our AI-enabled software-as-a-solution gathers data from smart grids and electric vehicle (EV) fleet operations, generates intelligent predictions of variables such as loads, wind and solar energy production, EV charging demands, and battery state of charge, to deliver real-time optimization recommendations. The benefits include a reduction in net energy costs, a better return on investment in existing hardware (rooftop solar, battery storage, EVs, etc.), increased use of renewables in the energy mix, and reductions in carbon footprint.

Contact:

Tel: (91 22) 6665 8282

Fax: (91 22) 6665 8801

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
POWER GRID CORPORATION OF INDIA LIMITED -1.15% 201.85 End-of-day quote.41.80%
THE TATA POWER COMPANY LIMITED -6.40% 227.3 End-of-day quote.200.46%
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Sales 2022 398 B 5 305 M 5 305 M
Net income 2022 21 269 M 284 M 284 M
Net Debt 2022 399 B 5 316 M 5 316 M
P/E ratio 2022 34,1x
Yield 2022 0,76%
Capitalization 726 B 9 677 M 9 684 M
EV / Sales 2022 2,83x
EV / Sales 2023 2,56x
Nbr of Employees 18 626
Free-Float 52,8%
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