GE Power and the New York State Power Authority have announced an agreement in which the former will provide software that will monitor, analyze, and enhance the performance of the latter’s electricity generating assets to improve efficiency, reliability, and cost-effectiveness.
The announcement, made earlier this month, will see the two collaborate to help accelerate the New York State Power Authority’s (NYPA) 5-Year Strategic Vision plan by introducing new software that will allow the Authority to improve the efficiency, reliability, and cost-effectiveness of its 16 generating facilities and electricity transmission network. Specifically, the collaboration will focus on improving the system-wide performance of the network, and improving the operating costs of NYPA’s hydroelectric and gas-based electricity generation capacity, while also reducing carbon emissions.
GE Power will provide NYPA with its Asset Performance Management (APM) software which leverages data analytics to monitor power generation and transmission equipment health in order to predict potential trouble and failures while reducing unplanned downtime, providing lower maintenance cost, and lowering operational risks.
We’ve seen the likes of this from GE, when earlier this year GE’s Renewable division unveiled its new intelligent Condition Monitoring System (iCMS) for hydropower plants at the HydroVision Tradeshow held in Minneapolis. GE’s iCMS was as part of its Asset Performance Management solution, which uses machine learning to enhance the efficiency of monitoring and maintenance.
“This is a transformative moment in the 85-year history for NYPA and its customers as we reach the next milestone in our digital journey,” said Gil C. Quiniones, president and chief executive officer at NYPA. “This digital solutions platform supports our primary mission to provide customers with low-cost, clean, reliable power with the industry-leading energy infrastructure and services they value.”
“The digital transformation of electric power has the potential to create more than a trillion dollars of economic and societal value in the next decade,” said Ganesh Bell, chief digital officer, GE Power. “NYPA is truly a pioneer, moving first to unleash the value that comes from connecting, monitoring, analyzing and ultimately optimizing the performance of its entire electricity value network.”
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