Farsight™: A predictive AI platform for renewable energy management

As the world grapples with the pressing need to transition to sustainable and clean energy sources, Artificial Intelligence (AI) is emerging as a game-changer in the realm of renewable energy.

Managing the grids of the future will require more powerful analytical tools, because power systems are becoming vastly more complex as demand for electricity grows and decarbonisation efforts ramp up.

The combination of AI and renewable energy technologies has the potential to revolutionize the way we generate, distribute, and consume power, paving the way for a greener and more sustainable future.

In this scenario, BaxEnergy has listened to the market’s needs, envisioning a new cutting-edge AI platform for renewable energy assets management: Farsight™!

“What is Farsight™?”

Farsight™ is a software that generates actionable insights to help you identify potential issues or irregular activities in your renewable energy assets. Our software harnesses the power of AI and advanced analytics algorithms to help asset managers, utilities, IPPs and investment funds find areas for improvement, ensuring optimal portfolio performance. 

Our solution brings together data from diverse sources into a single platform, giving you access to reliable information, user-friendly dashboards, and analytical tools. This empowers you to effectively achieve your financial and operational goals.

 

“Why should I use Farsight™ when managing my renewable energy assets?”

 

Quantifying Production Losses with Precision 

The first and foremost advantage of using Farsight™ lies in its ability to quantify production losses. Unlike traditional management systems, Farsight provides a precise financial assessment of historical, present, and future losses associated with identified issues. This empowers asset managers to make informed decisions with a clear understanding of the financial impact. 

Optimizing Operational Workflows through Strategic Prioritization 

Farsight™ stands out by not just offering data but transforming you into an insight-driven manager. The platform aggregates data from your assets, measures their performance, and strategically prioritizes actions based on the severity levels of detected issues. This approach allows asset managers to optimize operational workflows efficiently. 

Harnessing Advanced Analytics with Over 60 Algorithms 

Going beyond basic analytics, Farsight™ employs more than 60 advanced algorithms. This extensive analytical toolkit provides asset managers with in-depth insights and reports on the status of renewable assets. The focus shifts from manual operations to proactive problem-solving, enhancing the overall efficiency of asset management. 

Customization through Open APIs 

Flexibility is a hallmark of Farsight™. Its open APIs enable users to customize or create analysis models tailored to specific goals. This adaptability ensures that the platform aligns seamlessly with your business objectives. Scale your operations confidently, knowing that Farsight can evolve with your needs. 

 

“Ok, but how does it work exactly?”

 

Transparency in Algorithmic Logic 

One unique feature that sets Farsight™ apart is its transparency. It is the first platform in the market where users can fully access and understand the logic behind the algorithms used for analyses. This transparency builds trust, allowing asset managers to comprehend the intricacies of the software’s decision-making process. 

Data Analysis and Real-time Monitoring 

Upon connection to your assets, whether wind turbines or solar panels, Farsight™ conducts a thorough analysis of both historical and real-time data. Leveraging the power of AI models, the software identifies anomalies and generates actionable insights. This real-time monitoring ensures timely responses to emerging issues. 

Preventing Severe Failures 

Farsight™ acts as a proactive guardian for your assets. By identifying anomalies early on, the platform empowers you to prevent potentially severe failures. This not only saves resources but also contributes to the longevity and reliability of renewable energy assets. 

Facilitating Informed Decision-Making 

Armed with insights from Farsight™, asset managers can make better and faster business decisions. The platform provides actionable recommendations, enabling managers to implement strategies that address current challenges and contribute to long-term success.

 

Conclusion: Elevating your renewable energy asset management

The convergence of AI and renewable energy holds immense potential for tackling the global energy challenges we face today. Maintenance and optimisation operations are crucial for ensuring long-term effectiveness and cost efficiency of power plants. By leveraging the power of our AI-driven predictive platform, we can enhance the efficiency, reliability, and scalability of renewable energy systems, enhancing asset performance by up to +7% and accelerating the transition to a more sustainable future. 

If you want to discover more on Farsight™ and talk with our experts, visit our “AI & Actionable Insights” Solutions page.