Tech Mahindra, a specialist in digital transformation, consulting and business re-engineering announced that it will build an Intelligent Electric Vehicle Charging System (IEVCS) designed to help build Ontario's clean energy future.
The project, sponsored by the ministry of energy and funded in part through the Ontario Smart Grid Fund initiative, will analyze the effects of electric vehicle charging on transformers by creating a real time transformer monitoring and analytics solution.
The key benefit of the solution is the real time monitoring of the transformers and the ability to automatically manage the charging between vehicles to ensure the transformers do not overload as a result of EV charging.
This innovation will use cutting edge techniques in data sciences and embedded systems for the smart grid industry. The highly customizable and scalable platform is set to help utilities reduce their total operating cost.
During the two-year project, Tech Mahindra, along with its partners, will develop and design a reliable distribution system for electric vehicles. This system will manage the load profiles of participant EV's by ''queuing'' their charging to prevent transformer overloading, while keeping participants' information private.
Tech Mahindra's IEVCS project comes at a time when the company is actively promoting new ideas and technologies. In February 2015, Tech Mahindra announced plans to invest $150 million over the next three to four years to create innovative solutions and develop next-generation technologies.
Sirisha Voruganti, global head of innovation, Tech Mahindra said, ''We are excited to have the Ministry of Energy sponsor our project through the Ontario Smart Grid Fund initiative and believe that over the next two years, our technologies will have done its part to build a smarter grid in Ontario through our IEVCS infrastructure. Innovation is integral to Tech Mahindra's growth strategy and we are happy to launch this project in Ontario as part of this journey.''
Shares of the company gained Rs 15.35, or 2.48%, to trade at Rs 634.60. The total volume of shares traded was 59,745 at the BSE (10.19 a.m., Wednesday).
