AleaSoft Energy Forecasting, August 5, 2024. Interview by Elena Carrascosa, from Canal CEO for Menudas Empresas in The Objective, with Antonio Delgado Rigal, PhD in Artificial Intelligence, Founder and CEO of AleaSoft Energy Forecasting.
For years, the business sector has been demanding an educational experience that is more in tune with the realities of the marketplace. AleaSoft is proof that the collaborative model works. What are the benefits of being a UPC spin‑off?
AleaSoft was founded in 1999 with the impulse and direct support of the university, in order to promote externally the scientific research topics that are carried out internally and benefit society in general. The origin of AleaSoft as a spin‑off of the UPC has been a decisive factor in our success and development.
The collaboration since our foundation has allowed us not only to become a competitive company in the energy sector and one of the European leaders in forecasting and market analysis, but also to have as a fundamental objective scientific research and the transfer of scientific knowledge to the energy sector.
The UPC is AleaSoft‘s main scientific reference and a key technological partner, collaborating on projects in the fields of Artificial Intelligence and Statistics. We have been actively collaborating with the SOCO (Soft Computing) research group of the Department of Computer Languages and Systems of the UPC in its Artificial Intelligence branch, which has been a scientific reference in Spain since its creation.
Our relationship with the UPC has not only been a fundamental pillar for our growth and development, but also demonstrates how an effective collaboration between academia and business can generate exceptional results and mutual benefits.
Why is it essential to have 50% PhDs on staff?
This is one of the keys to AleaSoft‘s success, having a highly qualified team, experts in mathematical and statistical topics, with great experience in the energy sector. This is the company’s main asset, allowing us to tackle complex problems with innovative approaches and solutions based on the latest scientific research.
Constant R&D is fundamental at AleaSoft. The PhDs are not only experts in their respective fields of scientific knowledge, but also have a mindset focused on research, innovation, and facing new challenges and problems to overcome. In a sector as active and changing as the energy sector, having a highly qualified staff with this mentality allows us to provide solutions to whatever our clients’ needs may be.
The presence of PhDs facilitates cutting-edge research and continuous innovation, which helps us to be in the state of the art and increase the quality of our forecasts.
What challenges does AI pose to the global energy market today?
AleaSoft is a pioneer in the use of Artificial Intelligence, we have been doing it for 25 years with very good results in its application to obtain forecasts for the energy sector. However, the growing popularity and development of AI in recent years poses challenges for the energy market.
One of the main challenges is the significant energy consumption required by data centers. It is important that this energy comes from renewable sources to ensure that the growth of AI does not compromise sustainability. However, this challenge also represents an opportunity for renewable energy, as increased demand for clean energy can keep market prices in balance to ensure a return on investment.
The development of data centers also requires investments to improve the infrastructure of electricity grids to facilitate the connection of this new demand. In addition, the integration of data from multiple sources in the digitization processes that accompany the development of AI can be complex, increasing the risk of cyberattacks.
How successful is your service model based on scientific forecasts, and how does it translate into the day-to-day lives of end users?
The quality and consistency of our forecasts is backed by the trust our clients have placed in AleaSoft over the past 25 years.
We make forecasts of market prices, demand and renewable energy production, covering all time horizons: short-, mid- and long‑term. This wide range of forecasts is useful for many processes in the energy sector.
First of all, the automatic collection of forecasts and their export in different formats, which can be automatically integrated into the processes of any end user, facilitate the digitalization of companies in the sector.
Our short‑term forecasts serve as a guide to operate in the daily market, as well as to plan production and demand in the nearest horizon. Mid‑term forecasts are a reference for participating in futures markets, hedging and risk management. They are also useful for mid‑term demand and production planning, as well as for planning maintenance shutdowns. Finally, long-term forecasts are required for financing renewable energy projects, negotiating PPA, and estimating project revenues, to name a few.
What are your short- and mid‑term goals with this new structure?
Our goal is to drive the development of renewable energy through a wide range of services across our six divisions.
- AleaGreen and AleaStorage provide the forecasts and studies needed to finance renewable energy and energy storage projects.
- AleaHub, with its PPA Marketplace and renewable assets and projects, connects buyers and sellers, bringing dynamism to the market.
- AleaBlue provides short- and mid‑term forecasts, especially useful for the operation of projects already in operation.
- AleaWhite provides data services, reports, news and webinars, while AleaConsulting provides strategic consulting that is valuable at all stages of a project, from planning to decision making during its lifetime.
With this structure, we aim to provide comprehensive solutions that support the sustainable and efficient growth of the global renewable energy sector.
