BluWave-ai and Tata Power Sign Multi-Year Contract for AI-Enabled Energy Optimization:

PRESS RELEASE FROM BLUWAVE-AI
July 27, 2021
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OTTAWA, Canada — BluWave-ai announced today the signing of a new three year commercial agreement with Tata Power, one of the top electricity distribution companies on the Indian subcontinent. The new agreement comes as the exciting conclusion of a successful trial contract of a project between the two companies. The BluWave-ai software-as-a-solution (SaaS) has been been live at Tata Power, Mumbai in operation 24 hours a day, 7 days a week, 365 days a year, since February 2020. Tata uses the BluWave-ai cloud platform to generate intra-day and day-ahead dispatches for use in their power scheduling operations. This current collaboration has been signed for three years with an option to extend to five. Last year, the Saas adapted rapidly to massive COVID-related shutdowns in India.   BluWave-ai and Tata Power have recognized for their leading work by the India Smart Grid Forum (ISGF) with a top-level Diamond award in the category of Utility Distribution. This awards recognizes the innovation and benefits of the BluWave-ai’s method for forecasting energy loads at Tata Power. India recently put measures in place to mandate accurate energy scheduling and introduced a real-time market to improve onboarding of renewable energy in the national grid. As a result, distribution companies like Tata Power now face strict penalties due to deviation of planned energy usage, which increase with inaccuracy in power scheduling. As an innovator in its industry, Tata Power sees the potential of artificial intelligence (AI) to optimize power scheduling and thus mitigate the new regulatory charges, driving the desire to do a project with BluWave-ai. “We worked with BluWave-ai to operationalize AI enabled daily day-ahead dispatch and multiple intra-day dispatches, in the face of real world challenges such as weather, covid19 lockdowns and cyclones, to adjust on-demand and real-time market constraints with high accuracy,” said Devanand Pallikuth, Head PSCC Tata Power Mumbai, “The close collaboration between our engineering staff and BluWave-ai staff in operationalizing this system proved that we could digitize the entire workflow. Working from the ground to AI enabled system improvements via cloud computing in real-time operations enhances our baseline systems with 99% and higher accuracy.” "It is very exciting to see BluWave-ai take AI models that were delivered into live systems in Summerside Canada and retrain and deploy with Tata Power in Mumbai India, leveraging support from our Fund," said Leah Lawrence President of Sustainable Development Technologies Canada (SDTC), "This is an excellent example of Canadian Export focused cleantech innovation, using AI and data to get more efficiency and reduce carbon footprint in electricity smart grids." “Our team at BluWave-ai has sought out innovative early adopters of complex AI technologies to onboard our products. We have focused on working with leading global energy companies, such as Tata, to build the world’s premier AI cleantech company, “Said Devashish Paul, CEO of BluWave-ai, “In Canada, our solutions delivered the first real-time AI electric utility dispatch. We were able to take our platform and quickly train it for the Indian market using real-time data from Mumbai to integrate with Tata Power’s utility operations. This technology provides our customers a solution that realizes significant financial benefit from the 35,000+ yearly electricity dispatches.” BluWave-ai is thrilled to continue to work with Tata Power in this historic Canada-India partnership driving innovation in the global energy transition as the world emerges from the COVID-19 pandemic, into an exciting, more sustainable, and more prosperous future.
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About BluWave-ai
BluWave-ai is focused on driving the proliferation of renewable energy and electric transportation worldwide. Our solutions apply artificial intelligence to optimize the cost, availability, and reliability of different energy sources, both renewable and non-renewable, in real-time. This lets our customers – communities, corporations and utilities – improve their energy decisions for sustainability, reliability, and affordability.