AI-Driven Climate Impact Risk Assessment for Energy Infrastructure

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Innovate UK
Innovate UK
Innovate UK
Innovate UK
Innovate UK

£233,650

May 31, 2023

Nov. 30, 2023

Our project aims to transform the way financial institutions, re/insurance companies and asset managers assess climate risks for energy infrastructure by using artificial intelligence (AI) and open geospatial data. We're developing an innovative tool that combines AI with existing risk assessment approaches to better understand how climate change might affect energy infrastructure, such as the damage caused by severe weather and the potential for lost revenue due to unfavourable weather conditions. Although our initial focus is on offshore wind farms, our approach is designed to be flexible and adaptable to other energy assets like hydropower stations, solar and onshore wind farms, and tidal energy systems.

What sets our project apart is the unique combination of AI technologies, satellite images, public databases, and the expertise of our collaborators. By utilising these resources, we're creating a state-of-the-art climate risk assessment tool that's more transparent, reliable, and scalable than currently available approaches. As a sign of our dedication to collaboration, we'll be sharing our models as open-source models, making them available to anyone interested, including researchers and commercial institutions.

Our project is breaking new ground by using advanced AI algorithms, including transformers, and efficient ways to process large amounts of data from geospatial data from open databases such as Landsat-8 and Sentinel-2\. Our approach is designed to be flexible and adaptable to different energy sectors, which will help strengthen the UK's world-leading position in risk management of critical infrastructure. Additionally, our partners from the OS-Climate initiative will provide valuable insights to help us better understand and address climate risks for energy infrastructure.

The rapidly changing climate and the need to protect energy infrastructure from extreme weather events and political instability make our project more important than ever. By proactively addressing potential climate change risks, our work will play a vital role in enhancing the resilience and sustainability of the UK's energy infrastructure.

Our project is crucial for the UK's energy security and economy, especially as the country moves towards a low-carbon energy system with a greater focus on renewable energy sources like offshore wind farms. By providing a robust AI-powered tool to assess and mitigate climate-related risks, we'll be supporting the growth of the renewable energy sector while also contributing to the overall stability and sustainability of the UK's energy landscape. In doing so, our project will help build a more secure and environmentally friendly energy future for the UK and beyond.