Posted by Mumbai: IndiGrid, a infrastructure investment trust has signed a multi-year collaboration pact with IBM to build an artificial intelligence (AI)-enabled asset management platform.
IndiGrid (India Grid Trust) will deploy a hybrid cloud solution with IBM Maximo Application Suite running on the secure and open IBM Cloud.
This will enable IndiGrid to optimise its assets‘ quality and utilisation throughout their lifecycle, increase productive uptime through preventative and predictive maintenance, drive efficiency and reduce operating costs. And ultimately delivering better value to its investors.
Enterprise asset management (EAM) is crucial for obtaining the insights and visibility needed to maintain and control intelligent assets and equipment.
Monitoring performance and scheduling repairs with predictive maintenance alone can reduce costs by 15%-20%, improve asset availability by 20% and extend the lives of machines by years, according to IDC.
IndiGrid 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 transmission and solar sector.
Through this digital transformation with IBM Services, IndiGrid 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.
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 & regulatory guidelines.
IndiGrid’s IBM Maximo Application suite deployment integrates with other IBM applications and tools on a single hybrid cloud platform running on IBM Cloud and Red Hat.
That includes IBM Maximo Enterprise Asset Management, IBM Maximo Asset Monitor and IBM Maximo Asset Performance Management.
It will be further expand capabilities of purpose-built for transmission and distribution businesses with specific asset hierarchies, industry asset models and usability features.
“IndiGrid has adopted a long-term Reliability Centered Maintenance (RCM) approach to manage 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,’ said Satish Talmale, COO -IndiGrid.
“This approach is laid on the back of industry-leading process standardisation, predictive and risk-based maintenance practices and also upskilling of its workforce for digital asset management,” added Talmale.
“By capitalising 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,” said Kamal Singhani, Country Managing Partner – IBM Services, India/South Asia.
“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 realise their vision to be the most admired yield vehicle in Asia.,” added Singhani.