Corporate Communication
20 May 2024
ReNew
Climate change is one of the
greatest challenges humankind is facing in the 21st century. According
to the World Health Organization, around 3.6 billion people*
live in areas that may face the brunt of climate change in the future. Given
the enormity of the situation, one needs immediate curbs in emissions to limit the
impact of climate change. This is where Artificial intelligence (AI) can play a
decisive role in enabling positive climate action.
From accessing the pace of climate change to facilitating the decarbonization of industries to enabling the development of early warning systems and resilient infrastructure, AI can offer innovative solutions to all climate-change-related challenges. Climate scientists, policymakers, and other stakeholders can collect, analyze, and interpret enormous emissions datasets and model smart systems for climate research using artificial intelligence (AI). Here is a detailed account of how AI can help address the causes of global warming and mitigate the effects of climate change.
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With the escalation of global warming, climate-related disasters have multiplied over the years. With the help of AI, the loss of lives and property during natural disasters can be largely avoided through the development of early warning systems and building resilient infrastructure.
Processing complex datasets on emissions and analyzing the same to find patterns and trends can provide actionable insights and direction for our risk mitigation efforts. It can provide policy-makers and stakeholders with a more informed and data-driven approach to combat climate change.
With a clean energy portfolio of ~15.6GW, on a gross basis as of May 09, 2024, ReNew is one of the largest renewable energy companies globally. The company operates more than 150+ utility-scale projects spread across 9 states in India. Furthermore, it also provides decarbonization solutions through a mix of green hydrogen, intelligent (data-driven) solutions, energy storage, manufacturing, and carbon markets.
ReNew also has been successfully leveraging AI in generation forecasting, preventive maintenance, power trading, price forecasting, hybrid RE project sizing, and scenario modeling.
· At ReNew, we employ machine learning models built on large number of machine parameters and weather forecasts to predict the wind/solar generation for the next day. This helps in stabilizing the grid, enhances revenue certainty and reduces penalties on account of schedule deviations.
· We have trained
machine learning models on certain machine parameters such as vibration and
temperature, to access the likelihood of critical equipment failure. Based on
the observed values of these parameters, alerts are issued to the Operations
& Maintenance (O&M) team to inspect the equipment at site so that
pro-active action can be taken before their failure/malfunction.
· Hybrid RE projects are
complex contracts hitherto unseen by Indian power sector. With complex contractual obligations, diverse
asset scheduling, and multiple project beneficiaries, they demand meticulous
planning. The team
at ReNew has built a digital twin of these contracts so that any kind of
scenario can be analysed. Impact of changes in regulations, capacity and
regulatory charges on the project can be studied in a much-expedited manner.
· Prediction of short-term
electricity prices is possible using machine learning models based on
historical market data. By incorporating such models and employing other
advanced analytics techniques in our power trading strategy, we are able to
extract a much better price from the market than a plain vanilla bidding.
· At ReNew, advanced analytics driven by AI have led to a transformation in the way operations and maintenance is handled at the 150+ sites at ReNew resulting in significant benefits in yield, reliability, human-resource efficiency, and cost. To take some examples of the positive results, the annual yield in productivity rose by 1-1.55%, and so did the site employees’ efficiency in maintenance activities, which went by a whopping 31%!
ReNew has also started utilizing cutting edge technologies like Computer Vision, Generative AI, and NLP which is leading to better quality, improved customer experience and better employee efficiency.
ReNew’s digital transformation driven by IR 4.0 technologies has been awarded by World Economic Forum with the prestigious Global Lighthouse Award – not just once, but twice. This is an unparalleled feat in the global renewable energy sector.
While AI technologies are widely available in developed
regions, many developing and less-developed countries, particularly in the
Global South, lack access to this crucial tech infrastructure. Ensuring equal
access to data and AI technologies is essential for harnessing AI’s potential
in climate action on a global scale. At the same time, the continued efforts of
nations’ s in cultivating awareness among all stakeholders - policymakers,
corporate decision-makers, civil servants, and the broader public and building
expertise in AI are also required to address the climate crisis we face today.
Sources:
https://www.bcg.com/publications/2022/how-ai-can-help-climate-change
https://news.un.org/en/story/2023/11/1143187
https://hub.jhu.edu/2023/03/07/artificial-intelligence-combat-climate-change/
https://blog.google/outreach-initiatives/sustainability/report-ai-sustainability-google-cop28/
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