Kaiserwetter Energy Asset Management Receives SAP Innovation Award 2020
Hamburg, Germany - Hamburg-based Kaiserwetter Energy Asset Management GmbH is one of the winners of the SAP Innovation Award 2020, which was awarded to Kaiserwetter for the use of artificial intelligence (AI) in its product portfolio to support sustainable investments.
Award for implementation of AI and IoT in the asset management of renewable energy investments
Kaiserwetter has been awarded this year's SAP Innovation Award in the "Technology Disruptor" category for its innovative implementation of artificial intelligence to strengthen sustainable investments. In this category, companies are honoured which implement intelligent technologies to drive innovation and develop a next-generation proof-of-concept application, Kaiserwetter announced.
SAP, the market leader in cloud-based business software, is presenting the Innovation Award for the seventh time. From more than 260 applications, an international jury of external and SAP experts, thought leaders, and opinion leaders selected 20 winners who use SAP's digital enterprise solutions innovatively and productively with the goal of strengthening the economy through digital technologies.
Kaiserwetter focuses on AI and IoT in the fight against climate change
This enables to minimize investment risks in renewables while maximizing returns. To do so, large sets of technical and financial data from wind and solar energy installations are aggregated, structured and analyzed. On the platform itself, these analyses are enriched with information from external sources such as meteorological and soon, electricity market data and are translated into key performance indicators (KPI) and dashboards.
Investors, asset owners and financing banks have the opportunity to grasp and determine their portfolios’ operative and financial status, current and future returns, the degree of potential performance s, as well as emerging challenges regarding investments and loans granted, Kaiserwetter said.
The integration of artificial intelligence, particularly machine learning, within the ARISTOTELES platform enables a predictive analytics approach that allows for an early detection of operative risks and potential technical failures before becoming effective. On this basis, the future performance of renewable energy installations can be precisely forecasted. With this new level of transparency, investors and financiers can immediately react to new developments and redefine their own investment strategies based on the aggregated data, Kaiserwetter continues.
"Achieving the Paris climate targets is essential. Only by using IoT and AI can we respond effectively and immediately to this global challenge. The SAP Innovation Award not only recognizes our technical achievements, but also acknowledges our contribution to the global energy revolution", said Kaiserwetter CEO Hanno Schoklitsch, delighted with the award.
Source: IWR Online, 12 May 2020