Company collaborates with India’s Ministry of Power, World Bank, state utilities to detect and resolve energy misuse
Mountain View, Calif., and Bangalore, India, August 22, 2022 – Bidgely, a global technology service provider (TSP), has been selected by REC Ltd., a CPSE under MoP, GoI to participate in Ministry of Power, GoI Technology Incubation Challenge Powerthon 2022, which was organized in collaboration with SINE incubation lab of IIT Bombay. From among 200 applicants and 18 ultimate technology solution providers chosen to participate, Bidgely was the only provider selected for energy theft detection in support of the national Revamped Distribution Sector Scheme (RDSS) to reduce losses across India up to 15 percent by 2025.
Bidgely's newly launched Energy Theft Solution will demonstrate how AI-enabled data analytics can detect and resolve India’s energy misuse issues during a 4-month engagement with a state utility. Congruently, Bidgely is working with a large utility in central India – in collaboration with the World Bank – to further prove theft detection analytics use cases.
“High levels of technical and commercial energy losses are a major financial concern for state utilities – with 22 percent of distributed power going unaccounted for – and energy theft is one of the largest contributors. As India deploys hundreds of millions of smart meters by 2030, leveraging capabilities in artificial intelligence and machine learning to this new wave of energy data will be critical to support the objectives of the Ministry of Power,” said Sh R Lakshmanan,CEO of REC Power Development and Consultancy Limited, a wholly owned subsidiary of REC Limited.
With 17 patents and over 40 global energy customers, Bidgely is extending its expertise in energy analytics to India’s Powerthon 2022 energy theft challenge – enabling state utilities to not only understand energy loss with precision and accuracy, but also insights into how to prevent further loss.
“Bidgely is keenly aware of the challenges in India’s energy market through engagement with key stakeholders and with a large portion of our workforce operating from the region, including both our data science and research and development teams,” said Gautam Aggarwal, Chief Revenue Officer of Bidgely. “We are delighted to be able to demonstrate the power of behind the meter intelligence for bringing about improvements in the billing efficiency of Discoms in India.”
Bidgely Energy Theft Solution
Based on industry-leading non-intrusive load monitoring technology and advanced data analytics, Bidgely’s Energy Theft Solution disaggregates customers’ energy consumption down to the appliance level. Insights generated from this data are used to identify usage patterns over a period of time and detect anomalies associated with high probability theft tendencies. Bidgely’s solution addresses three specific energy theft use cases:
To learn more about Bidgely’s Energy Theft Solution for detecting energy misuse, visit bidgely.com/solutions/energy-theft-detection.
Read the full press release here.
About REC Limited and REC Power Development and Consultancy Limited (RECPDCL)
REC Ltd. is a Public Sector Undertaking having a strong presence in financing projects in generation, transmission and distribution. REC supports the Ministry of Power, State Governments and the implementing agencies in planning, facilitation, and coordination, to ensure timely completion of flagship programs of the Government of India viz. DDUGJY, SAUBHAGYA and UDAY, etc. REC Ltd, has also been designated as the Nodal Agency for Revamped Distribution Sector Scheme (RDSS).
RECPDCL (REC Power Development and Consultancy Limited) is a wholly owned subsidiary of REC Ltd, rendering expert and value-added consultancy services to the power sector value chain across the country. It helps them set up power infrastructure, bolster operational efficiency, broaden product portfolio, implement innovative technology solutions and provide effective and economical services in the different areas. These include T&D infrastructure, ERP and billing software, smart metering projects, solar PV projects, QA, demand forecasting and scheduling. For more details please see www.recpdcl.in.
Bidgely is an AI-powered SaaS Company accelerating a clean energy future by enabling energy companies and consumers to make data-driven energy-related decisions. Powered by our unique patented technology, Bidgely's UtilityAI™ Platform transforms multiple dimensions of customer data - such as energy consumption, demographic, and interactions - into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From a Distributed Energy Resources (DER) and Grid Edge perspective, whether it is smart thermostats to EV chargers, solar PVs to TOU rate designs and tariffs; UtilityAI™ energy analytics provides deep visibility into generation, consumption for better peak load shaping and grid planning, and delivers targeted recommendations for new value-added products and services. With roots in Silicon Valley, Bidgely has over 17 energy patents, $75M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential and commercial customers around the world. For more information, please visit www.bidgely.com or the Bidgely blog at bidgely.com/blog.Contact