LIMASSOL, CYPRUS – [29.08.2024] – Suite5 Data Intelligence Solutions, a leading provider of cutting-edge data management and AI analytics solutions, today announced the launch of its groundbreaking GridAI project on August 1st, 2024, in Limassol, Cyprus. Funded by the Research & Innovation Foundation of Cyprus (RIF), GridAI aims to transform the electricity sector by empowering Distribution System Operators (DSOs) with a novel end-to-end solution for managing and analyzing the vast amounts of data generated by modern smart grids.
The increasing digitalization of the energy sector and the widespread adoption of smart meters and Distributed Energy Resources (DERs) are creating unprecedented opportunities for enhanced monitoring and control. However, this also presents significant challenges for DSOs in managing the exponential growth and complexity of data. GridAI directly addresses this need by offering a comprehensive AI-as-a-Service (AIaaS) solution that simplifies data management and delivers actionable intelligence for improved grid resilience, efficiency, and stability.
GridAI offers DSOs three core service bundles:
- Energy Data Collection Services: Efficiently ingesting, curating, and mapping diverse electricity-related data sources into a unified Energy Data Model.
- Energy Data Security Services: Implementing robust measures to safeguard the integrity and confidentiality of all data assets within the GridAI solution.
- Data Analytics Services: Providing advanced tools for exploratory data analysis, customizable AI-powered forecasting pipelines, and the generation of critical insights through machine learning and deep learning techniques.
By leveraging GridAI’s advanced AI analytics, DSOs will gain the ability to:
- Predict and mitigate peak load and grid congestions through proactive demand response strategies.
- Reduce grid losses and enhance stability by optimizing local energy consumption.
- Potentially avoid costly grid reinforcements by effectively utilizing demand flexibility.
GridAI builds upon Suite5’s established expertise and big data platform, leveraging experience from previous European projects. This new initiative will develop advanced AI pipelines tailored to the specific needs of the energy sector, ultimately providing DSOs with crucial knowledge and insights into the anticipated operation of demand and generation assets across their networks.
“We are thrilled to launch the GridAI project here in Limassol, Cyprus, with the invaluable support of the Research & Innovation Foundation,” said Dr. Fenareti Lampathaki, Technical Director at Suite5 Data Intelligence Solutions and Project Coordinator of the GridAI project. “The electricity sector is at a pivotal point, and GridAI offers a timely and innovative solution to help DSOs navigate the complexities of the modern grid. By harnessing the power of Big Data and AI, we aim to empower them with the intelligence needed to ensure a resilient and efficient energy future for all.”
Initially focused on addressing the needs of DSOs, Suite5 envisions expanding the GridAI offering to support the broader electricity data value chain, including electricity retailers, local energy communities, and prosumers.
About Suite5 Data Intelligence Solutions:
Suite5 Data Intelligence Solutions is a leading technology and service provider specializing in the digital transformation of industrial sectors through cutting-edge data management and AI analytics solutions. Based in Limassol, Cyprus, Suite5 is committed to helping organizations unlock the value of their data to address critical challenges and drive innovation.