Artificial Intelligence & Machine Learning is the future of Power and Energy Sector.

There is no use for large volumes of data that wait for weeks or months. Artificial Intelligence and Machine Learning (AI & ML) are the tools that can help with prompt analysis and action”, said R.V. Shahi, Advisor to the World Bank and former Sectary of Power, Government of India, at a round table event in New Delhi.

The gathering facilitated by Climate Connect Technologies, at the India International Center New Delhi, brought together key government stakeholders and industry leaders in the power and energy sector. Notable attendees included Rajesh Bansal, Senior VP of BSES; Yogendra Prasad, Former CMD of NHPC; and Dr. Santanu Bannerjee, European Business Head of GAVS Tech, amongst others. The discussions focused on the role and relevance of AI & ML in India’s power and energy sector.

This included consideration of the trends and learnings from western energy markets, particularly the European market. Climate Connect, CEO,  Nitin Tanwar, said, “We need to strengthen the foundations of the renewable energy sector by starting from the ground level; which involves monitoring the climatic changes of the country. Automated tools will help in monitoring these changes and forecasting the country’s power and energy markets”.

Director of Sales Shiv Kaushik, moderated the discussion and also shared his insights about the nation’s power sector. “The power potential of the India is tremendous. However, due to the current lack of proper technology and tools; a huge part of this potential remains unrealised.”  

CTO Sanand Sule launched Morning Megawatt, Climate Connect’s market data and analysis service. It is now open for public access, and will furnish forecasts of the energy market based on time and price. “Morning Megawatt will make pricing decisions in the energy trading sector easier, by apprising information about all the factors that influence energy market data and prices”. Users can find out more about Morning Megawatt at www.climate-connect.com/iex-price.php.

The discussion concluded on a positive and optimistic note, with key officials agreeing that AI & ML have great scope in the power sector. Proper utilisation of these tools will significantly bring down per-unit-power generation costs over the coming years and improve the efficiency and reach of the energy sector.