Proving the Business Case for the Internet of Things

Fortum to explore predictive maintenance benefits with Ventyx

Iain Morris
June 17, 2014
 
Finnish energy company Fortum has signed a deal with software player Ventyx under which it will study the benefits of using predictive maintenance services with its transmission and distribution assets.

The deal expands a previous agreement between the two companies to design and install Europe’s first-large scale urban smart grid at the Stockholm Royal Seaport.

“Fortum [Espoo, Finland] is dedicated to a major transformation of the energy system to meet the EU 2020 targets for greenhouse emissions, renewables and energy efficiency,” said Goran Hult, the vice president of R&D at Fortum. “Yet, in today’s era of constrained personnel resources and new demands, we must make more efficient and productive use of our existing transmission and distribution assets and workforce to meet these targets.”

“The Ventyx Asset Performance Management solution offers promising capabilities in this regard, and we are optimistic that it can help us reach our goals for the Stockholm Royal Seaport,” he added.

A subsidiary of Swiss tech giant ABB (Zurich, Switzerland), Ventyx says it is providing a range of services to support the Seaport project, including distribution, dispatch and monitoring services and a demand response management system (DRMS) for setting up and managing demand response programs, including virtual power plants and their dispatch and control.

It is also offering business intelligence services to support utility-specific business process monitoring and reporting.

Fortum believes it can gain a better understanding of how critical assets are performing through use of the Ventyx software.

That should also help it to prioritize maintenance activities in the future.

The energy player plans to carry out a technical feasibility study to gauge the full potential of the Ventyx software and help determine the cost savings and other benefits that could result from a more widespread deployment.

“We are confident that a real-world analysis of the asset health solution will demonstrate the ability to ensure high asset availability, reliability and optimized performance,” said Shawn Lyndon, Ventyx senior vice president and general manager of asset health solutions.
 
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