asset management Archives https://www.power-eng.com/tag/asset-management/ The Latest in Power Generation News Tue, 17 Oct 2023 18:59:57 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://www.power-eng.com/wp-content/uploads/2021/03/cropped-CEPE-0103_512x512_PE-140x140.png asset management Archives https://www.power-eng.com/tag/asset-management/ 32 32 Digitalization key to mitigating wind industry challenges https://www.power-eng.com/renewables/wind/digitalisation-key-to-mitigating-wind-industry-challenges/ Tue, 17 Oct 2023 18:59:56 +0000 https://www.powerengineeringint.com/?p=137683 A new report from analytics solutions firm ONYX Insight reveals supply chain issues, OEM pressures and turbine reliability are the greatest challenges facing the wind industry and recommends systematic adoption of automation and digital technologies to mitigate these threats.

The Ever-Changing Winds report, based on a global survey of wind turbine owner/operators, shows that reliability, or lack of it, is impacting all asset owners.

According to the report, nearly 50% of respondents foresee issues with both their existing fleet as well as new turbines coming off the production line.

Also, managing the risk of equipment failures coupled with the speed of development and the drive to reduce costs has introduced additional challenges.

According to the survey, the top five issues impacting turbine reliability are:

  • Aging fleets
  • Rapid growth of turbine size and compressed design cycles for new turbine
  • Technologies
  • Cost reduction pressure on the supply chain
  • Declining profitability of Tier 1 turbine Original Equipment Manufacturers (OEMs)
  • A challenging economic environment

While the introduction of larger turbines has been the primary driver behind rapidly reducing Levelized Cost of Electricity (LCOE), it has exacerbated problems around reliability and to some extent masked inefficiencies in operations and maintenance (O&M).

Part of the solution is greater, systematic adoption of automation and digital technologies across the full turbine lifecycle with a greater focus on whole-turbine PdM.

ONYX’s report underlines what progress has been made to digitalize assets. In 2020, 81% of respondents had barely started digitalization efforts, but this figure more than halved to 36% in 2023. However, only 14% of respondents indicated their digitalization of operations to be mature or market leading.

Key benefits from technology adoption, such as intelligent planning, additional turbine sensors, centralized data, advanced diagnostics and predictive analytics are still to be fully harnessed by the sector.

When it comes to supply chain problems and OEM challenges, survey participants are now citing lengthy delays on new projects due to longer lead times for the supply of new turbines and significant price increases.

Similarly for major components – particularly main bearings on newer turbines with large rotor diameters – lengthy delays are leaving turbines offline for extended periods.

Whilst these issues are creating challenges for operations teams, the biggest impact has been on OEMs, as evidenced in their recent financial results.

The ONYX report makes clear that technology advancements in predictive analytics and digitalized operations and maintenance are critical to improving the long-term cost-efficiency of the industry.

Report lead author Ashley Crowther, ONYX Insight’s chief commercial officer, said: “The wind industry faces a range of new challenges in the post-pandemic era. The supply chain, OEM headwinds and turbine reliability sit front and center of the issues facing operators as they look to reduce O&M expenditure in the face of increasing financial pressures.

“Supply chain pressures are compounding reliability problems caused by aging assets.

“However, challenges drive change and the industry can embrace technology to become more efficient. The best players are investing in digitalization, as their leaders know they will otherwise be left behind.

“We need to embed more knowledge into digital technology and leverage the output. We need to leverage our data for decision making and know ahead of time where, when and what for parts, people, and tools. It is clear from the report that there is a broad consensus that new predictive maintenance solutions are needed sooner rather than later. ONYX is working to develop the next generation of monitoring systems that will deliver a more complete picture for operators.”

Originally published by Power Engineering International.

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Black & Veatch partnering with UK firm on satellite and AI-driven utility infrastructure management https://www.power-eng.com/om/black-veatch-partnering-with-uk-data-analytics-firm-on-utility-infrastructure-asset-management/ Wed, 19 Feb 2020 14:28:34 +0000 http://www.power-eng.com/?p=100905 Engineering, procurement and construction (EPC) firm Black & Veatch is partnering with a data science provider on using satellite-driven geospatial analytics to manage power infrastructure.

Black & Veatch and United Kingdom-based Rezatec will collaborate on developing decision support tools for infrastructure owners and operators.  Rezatec applies AI-driven analytics to satellite-derived geospatial data enabling clients owning and operating distributed land-based assets to make more accurate decisions.

“Rezatec’s ability to analyze earth observation data brings a new perspective to the management of large infrastructure assets,” Mark Malcolm, director of delivery, Black & Veatch Europe. said in a statement. “We are excited to collaborate and use our expertise in the engineering, delivery and management of critical human infrastructure to develop decision support tools that provide highly valuable and actionable insights for our clients.”

Black & Veatch will bring its experience and insights in the engineering and delivery of utility infrastructure into the strategic partnership, Rezatec Chief Operating Officer Philip Briscoe pointed out. Black & Veatch Europe’s ECO-X cloud-based digital ecosystem will enable integration with Rezatec’s tools in honing asset management offerings, officials said.

Black & Veatch’s latest partnership follows several moves within the European group. These partnerships include Inflowmatix and Narrative Wave.

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Digitalizing Power will be a key part of the content offered at POWERGEN International happening December 8-10 in Orlando. Click here to see the POWERGEN 2020 call for abstracts and submit!

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