EnerTech, a part of Kuwait Investment Authority, has selected IBM's Waterfund Insight Service to prioritize its strategic water technology investments.
IBM developed the Waterfund Insights Service, a cloud business solution, to provide the ability to predict the actual costs of water under different hydrological and financial scenarios to national and local governments.
Waterfund Insight Service offers data visualisation decision support service delivered on IBM Cloud, allowing water utility managers, corporate water managers and government agencies to make decisions for effective water management.
IBM said the cloud-based service offers a better understanding of the impact on local water costs from changing climate conditions, capital spending and business factors.
EnerTech Holding Company CEO Abdullah Al Mutairi said: "Managing our water resources is a critical consideration and it's important to have an understanding of the true cost of water production and to evaluate the efficacy of new water efficient technologies.
"Together IBM, Waterfund, and Kuwait will develop a customized index to quantify the true cost of water production, transportation and distribution and assess the cost reduction potential of emerging water efficient technologies."
As part of the agreement, Kuwait will be added to the Global Water Cost Index, a financial benchmark developed by Waterfund, using the big data platform developed by Waterfund and research scientists from IBM.
EnerTech will utilize the Waterfund Insight Service to analyze, forecast and measure the financial performance of competing new technologies that can benefit Kuwait.
Waterfund CEO Scott Rickards said: "The service will eventually be deployed throughout Kuwait so that local water managers will be able to derive realistic cost estimates as they adjust for depreciation, capital expenses, subsidies, operating and non-operating revenue, and total water produced."