Renewable energy advisory firm GreenEnco has signed a Memorandum of Understanding (MoU) with Telangana State Renewable Energy Development Corporation Ltd (TSREDCO) to optimize the generation of solar assets using Artificial Intelligence (AI) and Machine Learning (ML) driven Asset Performance Management (APM) in Telangana.
The MoU signed on Monday, provides a framework for GreenEnco to perform APM and Technical Advisory to the projects developed/developing by developers, corporates enterprises, proprietors, asset owners, and independent power producers of solar energy projects in the state of Telangana.
The MoU was signed by N. Janaiah, Vice-chairman & Managing Director, TSREDCO, and Dr. Jyotirmoy Roy, Founder and CEO of GreenEnco in presence of Andrew Fleming, the British Deputy High Commissioner in Hyderabad.
"We are delighted to establish this engagement with TSREDCO to support the solar developers in the state of Telangana to unfold the true value of their solar assets and help increase the confidence of their investors for further green investment in their projects," said Dr Jyotirmoy Roy, Founder and CEO of GreenEnco.
"GreenEnco APM has successfully helped developers and asset owners to increase the value of their assets in Europe and India."
TSREDCO has been nominated by the Government of Telangana as the State Nodal Agency (SNA), for implementing all New and Renewable Energy Programmes; as the State Designated Agency (SDA) for implementing Energy Conservation activities, and as the State Nodal & Implementation Agency(SIA), for setting up of EV charging infrastructure for Electric vehicles in the state of Telangana.
"All the solar power developers presently operating in Telangana can get these services", said Neelam Janaiah, Vice-chairman & Managing Director of TSREDCO.
As per the official statement by GeenEnco, the MoU was signed between the two entities after the successful event of RenewX 2021.
In order to support the UK net-zero commitments and to strengthen the UK-India collaboration in the low carbon technology sector, Srijith Manon, Department of International Trade (DIT) of Foreign Commonwealth Development of Office (FCDO) had invited GreenEnco to participate in the RenewX 2021 event.
The agreement between GreenEnco and TSREDCO is believed to help support further growth of solar energy in the state of Telangana.
"Delighted that the expertise of British company GreenEnco is, by today's signing of an MoU with TSREDCO, going to enable private providers in the state scope to optimise the solar energy production", said Andrew Fleming, the British Deputy High Commissioner in Hyderabad.
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