On December 17, 2020 India Grid Trust (IndiGrid) and IBM enters into a multi-year collaboration agreement to build asset management platform that is enabled with AI.
Purpose of Collaboration- For Digital Transformation of Critical Power Infrastructure.
Need of Enterprise Asset Management
The Enterprise asset management (EAM) is important to obtain the insights and the visibility needed to maintain and control intelligent assets and equipment.
Highlights of the Collaboration:
Hybrid cloud solution with IBM Maximo Application Suite
i.IndiGrid will deploy a hybrid cloud solution with IBM Maximo Application Suite that runs on open IBM Cloud.
ii.This is to optimize the quality and use of the assets of IndiGrid throughout their life cycle, increase production time by preventive and predictive maintenance, etc.,.
iii.These will ultimately deliver better value to its investors.
IBM Maximo Application Suite Integrates
i.IBM Maximo Enterprise Asset Management, IBM Maximo Asset Monitor and IBM Maximo Asset Performance Management are integrated by IBM Maximo Application Suite deployed by IndiGrid on a single hybrid cloud platform running on IBM Cloud and Red Hat.
- The suite will further be enhanced by the capabilities built for transmission and distribution businesses with specific asset hierarchies, industry asset models and usability features.
i.This digital transformation, enables IndiGrid to manage & maintain the multi-component assets efficiently and leverage AI to detect abnormalities at scale.
- This prevents IndiGrid’s breakdown and increases availability.
ii.The IBM Maximo Application Suite, by improving the total health of IndiGrid’s assets and maximising the full potential of their operating life, while adhering to safety & regulatory guidelines, allows IndiGrid to be ready for the future.
iii.The collaboration enables IndiGrid to lead the sector transformation from the conventional-corrective practices to preventive and resilient- Reliability Centered Maintenance (RCM) approach.
- It is to be noted that IndiGrid has adopted a long-term RCM approach to manage its assets effectively.
Currently, IndiGrid has 11 operating projects that consists of 28 transmission lines with more than 6,280 circuit KMs length and 9 substations with 11,460 Mega Volt Amp (MVA) transformation capacity
It intends to grow its asset base in the transmission and solar sector.
As per the International Data Corporation (IDC), when the performance is monitored and the repairs are scheduled with the predictive maintenance, cost can be reduced by 15%-20%, asset availability can be improved by 20% and the machine’s lives can be extended.
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About India Grid Trust (IndiGrid):
It is India’s first listed power sector infrastructure investment trust (InvIT), sponsored by KKR and Sterlite Power Grid Ventures Limited (SPGVL)
CEO & Whole-Time Director– Harsh Shah
Established– October 21, 2016
Headquarters– New Delhi, India
International Business Machines (IBM) Corporation is an American multinational technology and consulting company
CEO– Arvind Krishna
Headquarters– Armonk, New York, USA
About IBM India:
Headquarters– Bengaluru(Bangalore), Karnataka
General Manager, IBM India/South Asia– Sandip Patel