Tech Mahindra announced a partnership with Mahindra TEQO (Technology, Quality and Operations), the newly formed renewable energy asset management company, to create digital solutions for the global renewable energy industry.
The solutions, developed by leveraging next-generation technologies like Artificial Intelligence, Machine Learning, Augmented Reality , Virtual Reality and IIoT (Industrial Internet of Things) have the potential to decrease operating and maintenance expenses by 20%, enabling customers to optimize their renewable energy assets.
This partnership will create a digital ecosystem for the global renewable energy industry, deliver high quality, end-to-end, integrated solutions to customers worldwide and provide powerful support for customers throughout the lifecycle of the asset, said a release from the company.
Jagdish Mitra, chief strategy officer and head of growth, Tech Mahindra, said: “At Tech Mahindra, our focus is to ensure that business decisions across industries and geographies, lead to equitable and sustainable growth. The aim is to enhance our portfolio by developing and collaborating with partners like Mahindra TEQO to provide our global customer base a platform powered by next-generation digital technologies like Artificial Intelligence and Data Science, to not only help in operational maintenance but also to optimize their renewable energy assets.”
Mahindra TEQO’s SolarPulse, a cloud-based software application, which analyses plant performance data will be synergised with Tech Mahindra’s AssetRise, which facilitates modular deployment of asset management and asset performance management, to improve asset monitoring.
Customers will have a comprehensive understanding of asset performance using advanced interactive plant performance analysis, real-time alerts, energy, and event log analysis, audit or report energy production and meter analysis, automatic fault localization, remote troubleshooting, etc.
Steve Odak, CEO, Mahindra TEQO, said: “The collaboration with Tech Mahindra provides a great opportunity for us to deliver a growing ecosystem of advanced technology products and services, backed by a strong team with deep domain expertise globally. Tech Mahindra has clearly demonstrated its ability to apply its considerable resources and expertise not only to enter but to lead major market segments. We are excited to partner with Tech Mahindra as we focus our combined energies on serving a broader range of customers with industry-leading renewable asset management solutions and end to end integration capabilities.”