Aspen's (AZPN) DGM Solution Leveraged by Adani Electricity
Aspen Technology AZPN announced that its digital grid management (DGM) solutions are being leveraged by a leading power company in India — Adani Electricity.
Aspen’s Advanced Distribution Management System and SCADA system have been integrated into Adani Electricity’s latest network operation center, which is located in Hiranandani Powai. The above-mentioned systems will allow Adani to monitor and control an intelligent power grid, which provides resilient and safe service to its vast customer base throughout Mumbai.
The rising complexity of electrical grids is being driven by heightened consumer expectations, rapid transition to clean energy, dynamic regulations and evolving cyber and extreme weather-related challenges.
Aspen Technology, Inc. Price and Consensus
Aspen Technology, Inc. price-consensus-chart | Aspen Technology, Inc. Quote
Aspen’s OSI digital grid management solutions will assist Adani Electricity to forecast and avoid outages. Apart from this, the solutions will also allow Adani to restore service amid unforeseen disruptions as well as optimize network efficiency to minimize electricity bills and integrate renewable energy sources like solar and wind.
Aspen’s solutions aid customers in asset-intensive industries in addressing the twin problem of fulfilling the growing resource demand of a population that is expanding quickly while simultaneously conducting business in a more sustainable way.
The solutions enable clients to run their assets safer and faster in complex situations where it is vital to optimize across the complete asset lifecycle, including asset design, operation, and maintenance.
In January 2024, the company announced its commitment to achieve emission reductions across its entire operations in line with climate science and the Science Based Target initiative or SBTi. The company aims to attain net-zero greenhouse gas emissions for Scope 1 and Scope 2 by 2030, with a considerable reduction in Scope 3 by 2030. It expects to attain a full net-zero by 2045.
Going ahead, the DGM segment is likely to benefit from global electrification and grid upgrades. The company is likely to benefit as customers are exploring sustainability solutions in critical minerals mining and low-carbon fuel alternatives.
Aspen currently carries a Zacks Rank #3 (Hold). Shares of the company have lost 12.6% against the sub-industry’s growth of 72.8% in the past year.
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Stocks to Consider
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