Plugging Kuwaiti SMEs into the Digital Transformation of the Power Sector
The power sector, with its huge power plants and endless transmission lines, is often seen as the purview of giant companies and government ministries. GE Power is working with Kuwait to create business opportunities for SMEs in the country’s power sector.
Kuwait’s National Fund for Small and Medium Enterprise Development and GE Power have signed a Memorandum of Understanding to incubate small and medium enterprises (SMEs) in the development of digital industrial applications for the power generation sector.
They will learn how to develop these apps on Predix, GE’s application development platform for the Industrial Internet that was built to meet the scale, complexity, speed and security requirements of industry. Predix is already widely implemented across the Middle East and Africa, including at large utilities.
Through the MOU, Kuwaiti SMEs will have the opportunity to participate in the ongoing digital transformation of the power sector, helping to enhance the industry’s efficiency and reliability, while lowering its carbon footprint. Additionally, as the region turns towards a rising share of intermittent renewable energy in the overall generation mix, Predix-based Industrial Internet of Things applications can help enhance grid stability by improving the flexibility of the power generation sector so operators can ramp up or down power supplies more quickly.
Digitization can unlock tremendous benefits for the power industry, according a report issued by the World Economic Forum in 2016. It found that US$1.3 trillion of value could be realized purely by deploying and adopting digital technologies over the next 10 years in the electricity sector.
The MoU supports the National Fund’s work to build an inclusive, collaborative and innovative ecosystem for entrepreneurs that, in turn, provides a foundation for economic opportunities in Kuwait.
In addition to training, GE Power will provide SMEs with infrastructure to support app development and provide ongoing access to GE experts on the Predix platform.
Training and development activities will take place at the GE Kuwait Technology Center, a flagship facility that provides training, tooling and engineering services in the energy sector to customers across the Middle East and Africa.