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Home » Power Talk » Innovative solutions for setting a track for the energy transition

Innovative solutions for setting a track for the energy transition

May 25, 2024 1:51 pm

Innovative solutions for setting a track for the energy transition
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Using digital technology, tackle grid energy transition concerns focusing on generation management, transmission operations, and distributed energy resource management.

AspenTech is leading the way in transforming power and utilities towards a sustainable and efficient energy future. Their innovative solutions redefine operational technology and reshape the grid’s trajectory, enabling utilities to navigate complexities and seize opportunities in the evolving energy paradigm.

How do you see operational technology evolving, and what role do AspenTech’s innovative solutions play in shaping this evolution?

AspenTech’s utility customers are at the forefront of the global energy transition, facing challenges and opportunities. The energy transition is manifesting on such a huge scale: global energy generation is expected to grow 2.6x by 2050, with the electric grid expected to double in size by 2040 to support expanding capacity. (IEA, 2023)

Digital technologies are crucial for utilities to navigate energy transition challenges. They optimise real-time grid operations using automated network models, load and generation data, analytics, and AI. These technologies enable accurate demand forecasting, supply and load balancing, and renewable integration. The future utility vision focuses on enhancing the Digital Grid Management suite to create a self-optimising grid, focusing on near-adjacent utility.

Please provide insights on how the company addresses challenges and opportunities in the power and utilities sector. 

COP-28 saw over 200 nations agree on an accelerated energy transition, aiming to triple global renewable capacity and double energy efficiency by 2030.

AspenTech aims to provide real-time operating solutions for utilities in three core areas: increasing resilience and reliability, accelerating clean energy transition, and improving operational excellence and safety. Our Digital Grid Management solutions offer enhanced visibility and control over the grid, enabling utilities to produce, transmit and distribute power while maintaining grid stability and reliability.

What strategic initiatives are you undertaking to ensure continued innovation and market leadership in operational technology?

Digital technologies are critical to addressing operational challenges with accelerated energy transition on the grid. For example:

Generation management systems optimise large-scale power generation, spanning fossil fuels and renewables. They handle resource diversity and planning complexities for regulated and deregulated markets, including automatic voltage regulation and energy evaluation.

Transmission system operators balance the electric grid’s load safely. Our AspenTech OSI Energy Management System manages challenges like congestion and renewable intermittency. Our OSI Advanced Distribution Management System models and manages real-time power flow for medium and low-voltage grids, ensuring a reliable electric grid with automation and outage management. Distributed Energy Resource Management Systems integrate small-scale resources like solar panels and electric vehicles into the grid for efficient coordination. The AspenTech OSI monarch Scada platform monitors and controls electric, gas, or water networks with diverse capabilities suitable for various utility and industrial applications.

How do you approach strategic customer engagement, and what value does this bring to clients in the power and utilities industry? 

Adani Electricity, a Mumbai-based utility, has implemented AspenTech’s digital grid management solutions, enabling real-time monitoring and control of its electric distribution grid. The company, which supplies power to over three million customers, is now among the most advanced utilities in the region. The launch of India’s first ADMS at Adani Electricity’s Powai Network Operation Centre is a significant milestone in the region’s power landscape as part of its goal to provide 60 per cent renewable electricity to Mumbai by 2027.

How can organisations best leverage AspenTech’s expertise and solutions to stay ahead in an increasingly competitive and dynamic market? 

AspenTech’s Digital Grid Management solutions, including GMS, EMS, ADMS, and DERMS, are crucial in addressing the complexities of energy transition, including increased renewables, electrification, and data engagement. Their flexible architecture and evergreen product approach ensure they can meet customer needs as operating needs expand and change due to the global energy transition.

AspenTech empowers utilities globally through strategic partnerships, cutting-edge technologies, and operational technology vision. It aims to catalyse progress towards a sustainable energy landscape and offers expertise and solutions to help organisations navigate the competitive power and utilities sector.

Spokesperson: Sally Jacquemin, Vice President and General Manager, Power and Utilities, Aspen Technology, Inc.

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