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Emirates Water and Electricity Company (EWEC) has signed a memorandum of understanding (MoU) with Australia's Energy Exemplar to expand its advanced energy modeling and forecasting capabilities and also bring the latter's cloud-based PLEXOS modeling platform to the Middle East.

"This partnership with Energy Exemplar will expand our already advanced techno-economic modeling capabilities through the integration of a scalable, cloud-based platform that further strengthens our integrated system planning, particularly when factoring in future-facing energy innovations," Al Ali said in a statement, as per WAM.

Under the agreement, the companies will study how EWEC's existing and future modeling requirements can be enhanced with the PLEXOS modeling platform of Energy Exemplar, a global optimization-based market simulation software provider for the energy and water sectors.

"We are delighted to be able to bring to the region, one of the most powerful energy and water modeling solutions in the world, especially in collaboration with a strategic, world-leading entity such as EWEC, which sits right at the heart of the UAE's energy transition journey," David Wilson, CEO of Energy Exemplar, said in an official statement.

As a simulation platform, PLEXOS allows users to analyze and predict long- and short-term energy market performances based on the data fed into the system. It analyzes zonal and nodal energy models ranging from long-term investment planning to medium-term operational planning and down to short-term, hourly and intra-hourly market simulations.

"Having EWEC leverage our latest cloud-based technologies will enable them to accelerate the speed of their energy transition plans while simultaneously limiting execution risks. Together, we look forward to supporting the UAE's realization of a sustainable future," he added.

In July, Omar bin Sultan Al Olama, minister of state for artificial intelligence, digital economy and remote work applications, talked about incorporating various AI solutions and tools into several sectors to prepare them for new opportunities and help design innovative models for a sustainable economy.

As far as net zero future is concerned, Mariam Almheiri, UAE minister of climate change and environment, launched the Integrated Emission Quantification Tool to track greenhouse gas emissions, air quality pollutants and mitigation efforts, noting that it is a milestone for the country's climate action initiatives.