Masdar and Presight agree AI asset management tool development

Abu Dhabi Future Energy Company PJSC (Masdar) has signed an agreement with Presight, a leading big data analytics company powered by generative AI, to develop an asset management tool for its renewable energy projects worldwide.

Masdar’s renewable projects generate billions of daily data points from the equipment they use, such as solar panels, inverters and wind turbines. The vdata can be analysed and evaluated to generate insights and enable data-driven decision-making.

By developing an AI-based asset management tool, Masdar aims to digitise its operations worldwide, moving from a reactive model to a predictive approach where it can analyse data and operational patterns to anticipate issues in advance, enhance efficiency, address failures before they occur, reduce downtime, and ultimately boost energy production.

AI is viewed as having a significant role to play in the energy sector, boosting efficiency and operational patterns while applying predictive analytics to optimise energy grids and increase resilience. It can help support the seamless integration of renewable energy and other energy sources.

Masdar Chief Executive Officer Mohamed Jameel Al Ramahi said, “With our history of developing projects using cutting-edge clean energy technologies, it was a natural progression for Masdar to explore the potential for deploying AI across energy systems to enhance efficiency and deliver data-driven decision-making.

The integration between AI and energy is a game-changing economic opportunity that will enable us to build a bridge to a low-carbon, high-growth future. We are pleased to announce this agreement between two UAE-based pioneers that will help to achieve this goal.”

CEO of Presight Thomas Pramotedham said, “Clean energy has a number of specific operational needs, from managing shifting supply throughout the day to efficiently merging with other forms of energy in the grid.”

Since its establishment in 2006, Masdar has been a key enabler of the UAE’s vision as a global leader in sustainability and climate action. The company has developed and partnered in projects in over 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100GW by 2030 and to become a leading producer of green hydrogen by the same year.