GE Digital (GE) (General Electric)
Case Studies
Panama Minimizes Imbalance Penalties with Power Forecasting
Overview
Panama Minimizes Imbalance Penalties with Power ForecastingGE Digital (GE) (General Electric) |
Platform as a Service (PaaS) - Data Management Platforms | |
Renewable Energy | |
Discrete Manufacturing | |
Predictive Maintenance | |
Cloud Planning, Design & Implementation Services | |
Operational Impact
The implementation of GE’s Operations Optimization solution resulted in a successful outcome for Panama Group. The solution was provided as a service, aligning the interests of both the customer and GE. The new wind power forecast algorithm was able to achieve a forecast accuracy of 94%, which was 6% better than industry “best” benchmarks. | |
The hybrid architecture addressed the network connectivity challenges, ensuring reliable management of turbine data availability and providing closed-loop control. | |
The solution helped Panama Group meet the regulatory requirements set by India's Renewable Regulatory Fund (RRF), ensuring compliance and minimizing potential penalties. | |
Quantitative Benefit
94% forecast accuracy achieved | |
6% better than industry “best” benchmarks | |
Lower imbalance penalties of $126K per farm realized annually | |