IndiGrid bags Asian Power Awards for advanced asset management platform
“IndiGrid is DigiGrid” and is in constant pursuit of excellence by integrating all its operating assets with a mission for unmatched asset management.
India Grid Trust (IndiGrid), is India’s first power sector Investment Infrastructure Trust consisting of 46 transmission lines with more than ~8,468 ckms length, 13 substations with ~17,550 MVA transformation capacity, 557 MWAC (676 MWp) of solar generation capacity, and assets under management (AUM) of over ~₹ 269billion (~USD 3.2 billion), which bagged the Information Technology Project of the Year - India category at the Asian Power Awards for its advanced asset management platform DigiGrid.
DigiGrid is set to transform how IndiGrid operates by fully digitising all aspects of its operating functions, enabling the company to lead the sector transformation from conventional-corrective practices to a preventive, resilient, reliability-centred approach. Built in collaboration with global tech company IBM, the platform acts as a “single source of truth”. The platform can be scaled to integrate a host of technologies and analytical platforms to deliver its core objectives.
Thus, DigiGrid is enabling asset reliability through predictive and risk-based maintenance, leading to increased efficiency, reduced operating costs, and enhanced value for investors.
The approach that DigiGrid is employing is laid on the back of industry-leading process standardisation in a consistent manner, predictive and risk-based maintenance practises, and upskilling of its “digitally future-ready” workforce. DigiGrid has been seamlessly integrated into all IndiGrid assets, signifying a successful shift from traditional processes to comprehensive digital transformation. IndiGrid’s unique asset management strategy, coupled with the DigiGrid platform, will ultimately ensure a reliable power supply and predictable cash flow from operating activities.
DigiGrid’s integration also allows for the assignment of an ARE (availability, reliability, and environment) risk score based on their impact. This prioritisation facilitates an effective defect management programme whilst maintaining asset reliability. Additionally, the platform's ability to generate First Investigation Reports (FIR), robust FMEA process determining RCA, and initiate workflows for inspection and rectification (CAPA), facilitates recurrence prevention measures in a sustainable manner.
Monitoring performance and scheduling repairs using predictive maintenance can lead to cost reductions of 15% to 20%, a 20% improvement in asset availability, and the extension of machinery lifespans by several years.
"All above aspirational efforts showcase DigiGrid's capacity to deliver tangible improvements in operational efficiency and cost-effectiveness. This has helped us in optimising our operating model from a conventional time-based operating model to a condition- and risk-based operating model,” IndiGrid said.
DigiGrid has been built as part of IndiGrid’s established robust asset management framework, which encompasses a prudent asset management programme, strategic planning aligned with IndiGrid's vision, and a consideration of sector-specific practices and global best practices, particularly from related sectors like power generation and renewables.
The Asian Power Awards, now in its 19th year, celebrates and honours companies and projects that have taken innovative and game-changing steps to address the effects of the climate crisis and meet the growing demand for energy.
The Asian Power Awards is presented by Asian Power Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for your company's revolutionary innovations and initiatives in the power industry in Asia, please contact Julie Anne Nuñez at [email protected].