August 1 (Solar) – Digital technology company Accenture (NYSE:ACN) today announced a joint venture with Kansai Electric Power (TYO:9503), or KEPCO, designed to beef up the Japanese utility's use of digital technologies.
Accenture said that with technologies such as artificial intelligence (AI), advanced analytics and the internet of things, the new company, called K4 Digital Co Ltd, will help KEPCO accelerate changes in its business processes and create new business opportunities.
K4 Digital, 80% owned by KEPCO and 20% by Accenture, will start providing services for KEPCO on September 1. It will build a new analytics solutions platform to make maintenance of power station and grid equipment more efficient. K4 Digital will also seek to automate KEPCO's internal processes and provide its customers more personalised data.
According to the announcement, KEPCO has already started using digital technologies to achieve some operational efficiencies. This includes analysing data from smart metres, which, in addition to optimising grid equipment, allows the utility to predict more precisely solar power generation to prevent overloading the grid.