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Macquarie selects Prescinto Monitoring & Analytics platform for Clean Energy Portfolio
Macquarie, an Australia based global asset company with $600 bn asset under management and an operational fleet exceeding 408 MW of solar projects in India, will leverage Prescinto’s platform for actionable intelligence.
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Prescinto Technologies, a leading provider of advanced IIoT platform for the maintenance of solar industry’s assets in 14 countries, today announced that Stride Climate Investments - a Macquarie Asia Infrastructure Fund company - has adopted Prescinto’s monitoring and analytics platform to oversee the technical performance of its dynamic solar portfolio.
Macquarie, an Australia based global asset company with $600 bn asset under management and an operational fleet exceeding 408 MW of solar projects in India, will leverage Prescinto’s platform for actionable intelligence. The platform is vendor and hardware agnostic and cloud based. It will fetch data from solar plants, visualize it and give insights to improve performance. Prescinto will serve as a single source of truth for Solar Energy data across 21 projects for Macquarie.
Rajeev Sharma, Chief Operating Officer at Stride Climate Investment said, "We have projects with some of the best tariffs in India. We believe in using technology to further optimize performance of our solar projects. After a thorough exercise of evaluation of Indian and international players, we selected Prescinto to monitor and analyze data from our projects."
Speaking on the partnership, Puneet Jaggi, Founder and CEO at Prescinto said, “Our vision is to unlock the true potential of people and assets through actionable intelligence using our deep understanding of the Clean Energy domain and technology. Prescinto is able to fetch data across equipment and databases, sanitize the data and use data science to suggest insights and actions to improve performance across 5,000 MW of projects globally. We are excited to be a part of Stride Climate Investment’s digital transformation journey.”.
Macquarie - and its managed funds - is one of the world’s largest investors in renewable energy having invested or arranged more than $A20 billion of investment into renewable energy projects with 12,800 MW in operation or under management globally. With further investment planned, the geographical scale and diversity of this asset base will continue to grow, underlining the requirement for a versatile asset management system encompassing the technical, operational and commercial aspects of project operations.
Prescinto has been chosen by Macquarie to support its technical asset management functions. Through its user-friendly platform, Prescinto facilitates the early identification of issues leading to asset downtime and losses, offering Macquarie a complete list of identified issues for the company to focus on in the technical management of its portfolio. This ultimately reduces downtime and enables Macquarie to identify value add and value protection in their projects. To ensure seamless integration with Macquarie’s assets under management, Precinto’s platform will provide comprehensive suite of services including fleet management, real time monitoring, performance benchmarking and O&M automation. Macquarie’s fleet can be managed by Prescinto’s monitoring platform wherein KPIs for the entire portfolio can be generated, allowing complete transparency on asset performance.
Prescinto IIOT platform is designed for vendor independent connectivity & provides real-time insights for Solar PV plants. In contrast to conventional systems, Prescinto’s patent pending technology buckets losses into downtime, soiling & systemic loss & immediately converts each loss into actionable job ticket along with projected gains. With a present client base from 14 countries & handling a portfolio of 5000+ MW globally, Prescinto is now expanding into wind and energy storage.
About Stride Climate Investments – Stride Climate Investments is a 100% Subsidiary of Macquarie Asia Infrastructure Funds having Operational Solar Assets pan-India across various states such as Gujarat, Punjab, Madhya Pradesh, West Bengal, Orissa and Tamil Nadu.