energies

Case Report
Digital Transformation of Energy Companies: A Colombian
Case Study
Sandra Giraldo 1 , David la Rotta 1 , César Nieto-Londoño 2, * , Rafael E. Vásquez 2 and
Ana Escudero-Atehortúa 2

1 AES Colombia, Calle 100 No 19-54 Of 901, Bogotá 110111, Colombia; [email protected] (S.G.);
[email protected] (D.l.R.)
2 School of Engineering, Universidad Pontificia Bolivariana, Medellín 050031, Colombia;
[email protected] (R.E.V.); [email protected] (A.E.-A.)
* Correspondence: [email protected]; Tel.: +57-4-448-8388

Abstract: The United Nations established 17 Sustainable Development Goals (SDGs), and the fulfill-
ment of the 7th, defined as “Ensure access to affordable, reliable, sustainable, and modern energy
for all”, requires energy industry transitions and digital transformations, which implies that diverse
stakeholders need to move fast to allow the growth of more flexible power systems. This paper
contains the case report that addresses the commercial digital transformation process developed at
AES Colombia, through the implementation of a modern platform based on specialized applications
that use Industry 4.0 tools. The Chivor hydropower project, a 1000-MW powerplant that covers
6% of Colombia’s demand, which is owned by AES Colombia and constitutes its primary asset,
is first described. Then, a description of Colombia’s complex market (energy matrix, trading and
dispatch mechanisms, and future projects) is presented. Then, the methodology followed for the





 digital transformation process using modern tools is described. The project, conceived as a broad
Citation: Giraldo, S.; la Rotta, D.; framework, comprises applications for the management of hydrological, operational, and market
Nieto-Londoño, C.; Vásquez, R.E.; information, commercial information systems and platforms to facilitate consultation and analysis
Escudero-Atehortúa, A. Digital by different users. Such an innovative project in the Latin American context has been developed in
Transformation of Energy Companies: order reduce risks and to contribute to a sustainable energy supply for the future.
A Colombian Case Study. Energies
2021, 14, 2523. https://doi.org/ Keywords: digital transformation; energy transition; energy trading; energy commercialization; risk
10.3390/en14092523 management; Industry 4.0; artificial intelligence; renewable energy; hydropower projects

Academic Editor: Patrycja Habek

˛

Received: 19 March 2021

1. Introduction
Accepted: 27 April 2021
Published: 28 April 2021
The United Nations’ 2030 Agenda for Sustainable Development [1] defined 17 SDGs,
including “Ensure access to affordable, reliable, sustainable, and modern energy for all”.
Publisher’s Note: MDPI stays neutral
The fulfillment of such SDG requires changes such as new management schemes and more
with regard to jurisdictional claims in
presence of renewable energy projects in the mix [2]. Within such renewables, and despite
published maps and institutional affil- some of their drawbacks [3–6], hydropower projects represent valuable assets for the
iations. electric power sector, since they provide an important support for grid and mix planning
within several countries [7–10], especially in developing countries in which population is
growing faster [11]. According to the International Energy Agency [12], cost reductions
for renewables and advances in digital technologies are opening opportunities for energy
Copyright: © 2021 by the authors.
transitions, which implies that policy makers need to move fast to keep up with the pace of
Licensee MDPI, Basel, Switzerland.
technological change, allowing the appearance of flexible power systems.
This article is an open access article
Energy transitions started at the end of the 20th Century at several places. However,
distributed under the terms and the number of reports has grown considerably during the last five years [13,14]. One can
conditions of the Creative Commons find, among others, studies at different scales: the whole world [15]; continents such as
Attribution (CC BY) license (https:// Europe [16] and Africa [17]; countries such as Germany [18], Greece [19], Russia [20,21],
creativecommons.org/licenses/by/ China [22], Perú [23], and Australia [24]; regions such as the Basque Country (Spain) [25];
4.0/). and cities such as Alkmaar (Netherlands) and Évora (Portugal) [26]. Recently, Voropai [27]

Energies 2021, 14, 2523. https://doi.org/10.3390/en14092523 https://www.mdpi.com/journal/energies

Energies 2021, 14, 2523 2 of 14

presented a review that includes the main challenges to transform electric power systems
at large-scale, which involve structural and properties changes linked to the use of modern
technologies that allow digitalization and intellectualization of energy systems operation.
Digital transformation of energy industries started several years ago. Kaminski [28]
stated at the beginning of the last decade that social and economic forces would continue
to shape modern energy markets, posing Information Technologies (IT) challenges to risk
management in the energy industry, showing the importance of using stable and scalable IT
platforms for Energy Trading and Risk Management (ETRM). More recently, Kolloch and
Dellermann [29] used the actor-network theory to better understand managerial challenges
associated with digital innovation in the energy industry and their respective ecosystems.
Kloppenburg and Boekelo [30] addressed how platforms can promote decentralization of
energy generation by applying smart hardware components and intelligent algorithms within
energy transitions. Koronen et al. [31] performed the assessment, within EU policies, of the
challenges to integrate energy system in data centers using demand response and use of
waste heat. Strielkowski et al. [32] presented the implications of the electric system based on
high-renewables that can use the Internet of Energy (IoE) and the consequences it brings into
the renewable-based electricity market. Weigel and Fischedick [33] provided a structured
overview of benefits and stakeholders in the German electric energy sector generated
by digital applications. Duch-Brown and Rossetti [34] investigated EU regional markets,
which represents 20% of the world energy platforms, analyzing 217 digital platforms.
Quaranta et al. [35] discussed some examples of hydropower installations from energy
industry in Belgium, France, Italy, Switzerland, and the USA, where solutions aimed
at achieving a more sustainable design and operation of hydropower plants have been
adopted. Santarius et al. [36] examined if digitalization helps or obstructs the separation of
environmental throughput and economic growth. Hiteva and Foxon [37] analyzed energy
services and business models in the UK, in order to understand how digitalization can
create and capture economic and social values.
Industry 4.0 includes modern technologies that are supporting energy transitions
and digitalization, which is strongly associated with energy efficiency scenarios that can
contribute to climate change mitigation and the use of sustainable energy systems in the
industrial sector [38]. As stated by Martínez-Galán et al. [39], most business presently rely
on such technologies, because interconnected systems that share information in a flexible
way help companies to have a wider view of their processes, increasing effectiveness and
efficiency. Recently, Robert et al. [40] determined the main principles and characteristics
that must be present in management systems based on Industry 4.0, finding that interac-
tions and solidarity among actors are required for the appropriate implementation of such
systems. Since the energy sector started implementing innovative solutions and digital
transformations, Borowski [41] analyzed production processes issues in organizations
using solutions based on the paradigm of Industry 4.0; surveys were performed in the
energy and food sectors. Ghobakhloo and Fathi [42] performed a qualitative study of the
existent digitalization literature to identify the roles of Industry 4.0 in energy sustainability,
and identified that operating scenarios can be reshaped thanks to the use of more advanced
and intelligent equipment. Works in [42–46] show how the use of modern digital tech-
nologies such as Big Data, blockchain, Artificial Intelligence (AI), Internet of Things (IoT),
within energy industries facilitates the development of smarter energy grids and concepts
that may offer more efficient and innovative approaches to energy use.
AI, IoT, machine learning, blockchain, among others, are digital technologies that have
been involved at different levels and stages of energy industry: resource modelling [47], pro-
duction capacity prediction [48], economic load dispatch [49], demand-side response [50],
maintenance management [51], integration of distributed energy resources [52,53], smart
grids [54], among others. One can find more detailed applications such as in [55], who
developed a new decentralized Peer-to-Peer (P2P) energy trading platform to overcome
challenges such as keeping a fair balance between economic efficiency and information
privacy, inter-temporal dependencies created with the incremental use of storage devices,
Energies 2021, 14, 2523 3 of 14

and implementation of blockchain for P2P trading that can facilitate transactions in se-
cured and fraud-resilient scenarios. Wu et al. [56] presented a systematic review of how
IoT helps the digitalization of transactions in Energy Internet and how these transactions
can be decentralized by using blockchain. Ahmad et al. [57] conducted a comprehensive
review that allows comparing AI efforts, expectations, challenges, applications, and roles
in policymaking, by analyzing how solar and hydrogen power generation can benefit from
the use of AI in supply/demand management.
Energy trading started changing three decades ago, with the first efforts of EU to unify
internal markets and match prices across all European economies [19]. Presently, power
markets are in transition to carbon neutrality, increasing energy efficiency, and decreasing
short-term time demand responses [58], which requires the implementation of new tech-
nologies and digital transformation within all stages of energy industry [59]. Regarding this,
Yin et al. [60] reported a study that focuses on the relation between energy transactions and
distribution marginal pricing, based on the transmission/distribution/customer hierarchy.
Since consumers have become active stakeholders within energy markets, Schweiger et al. [61]
presented a comprehensive study of stages and obstacles found in the development and
implementation of user-centered energy business models; they included a required data,
computational methods and psychological aspects. Consequently, energy transitions are re-
quired for the prosumer (producer/consumer) to be an important player within smart cities,
and consequently new architectures are being proposed to help aligning the municipality
goals and the direction of the city regarding IT [62], which imposes new dynamics in energy
markets. In this regard, Ju et al. [63] proposed a purchase/sale transactions optimized
strategy for electricity retailers with energy storage system considering two-stage demand
response as an example of an effective tool for power retailers. For the case of Colombia,
the National Planning Department, supported by the World Bank, has released studies
regarding the energy supply [64] and the energy demand situations in Colombia [65], which
led to build green-growth policies [66] that will lead the energy transition and market transforma-
tion in the following decades. Regarding energy generation, Arango-Aramburo et al. [67] studied
possible roadmaps, given that the energy matrix is mostly supported by hydroelectric plants
(around 70%), and proposed various scenarios for the 2020–2050 period, and although they
found that the participation of hydroelectric plants will decrease with the appearance of
new generation plants based on different resources, it is necessary to increase the useful
life of power plants through technological development projects, which imply presently
digital transformations.
This paper addresses the commercial digital transformation process at AES Colombia,
developed through the implementation of an information management platform based
on specialized applications that use Industry 4.0 technologies. Such a platform allows
reducing risks and uncertainties, and facilitates the implementation of appropriate models
to optimize energy trading transactions. This will contribute to stabilize the complex
Colombian energy market that is experiencing transitions while seeking “access to afford-
able, reliable, sustainable, and modern energy”. The organization of the paper is as follows.
In Section 2, the Chivor hydropower plant and the Colombian energy market are described;
then, the AES Colombia’s digital transformation process is addressed. Section 3 shows
the benefits of the new digital platform implementation. Section 4 contains the discussion,
and finally, conclusions are presented in Section 5.

2. Materials and Methods

2.1. Chivor Hydropower Plant
As described in [68,69], Chivor is a 1000-MW hydropower plant (eight 125-MW Pelton
turbines) that represents the main asset of AES Colombia; this plant entered service in
1977 (Chivor I) and 1982 (Chivor II). The project is located at Santa María, Boyacá, 160 km
northeast from Bogotá, the capital city of Colombia, and was built to operate at least for
50 years using mainly La Esmeralda reservoir (with a basin area around 2420 km2 ), and two
additional small reservoirs, Río Negro and Tunjita. The main reservoir uses Batá river
Energies 2021, 14, 2523 4 of 14

(flow rate: average 60 m3 /s, min. historical 2.8 m3 /s, and max. historical 1500 m3 /s
registered in 1970), and has a capacity of 769 Mm3 . The reservoir has a 237-m height
crest (at 1288 m.a.s.l), and its maximum level is 1277 m.a.s.l. (to mitigate potential rising
of the rivers). The hydropower plant has now two different intake systems, the original
intakes are 165-ton steel/concrete structures located at 1195 m.a.s.l. and will operate until
2027, and a new intake system reported by [68] that will extend the life of the reservoir
for 50 more years. Water is then conducted to the powerhouse through two independent
seven-meter-high tunnels: Chivor I and II conduction (headrace tunnels). Finally, water is
discharged to the river Lengupá at 464 m.a.s.l, which represents more than 700 m of total
head. Considering that this hydropower plant had an initial operational expectancy until
2025, AES Colombia has been executing several projects to extend the operational time
for 50 more years, including the construction of the aforementioned new intake systems,
renovations of conduction tunnel linings, renovation of electrical equipment, and digital
transformation of the company in order to reduce risks and uncertainties, and to optimize
energy trading transactions.

2.2. Colombian Energy Mix and Market

The National Interconnected System (SIN by its initials in Spanish) connects 48% of the
national territory and covers 95% of the population and accounts for 52% of the country’s
area, mainly supported on hydropower and thermoelectric plants [65]. With an installed
capacity of 16.8 gigawatts (GW) by 2017, Colombian electrical generation system has a
share of 69.85% of hydropower and 29.02% of thermal-power plants [70]. The remaining 1%
corresponds to non-conventional renewable sources (i.e., solar PV and wind), Combined
Heat and Power (CHP) and self-generation plants. Hydropower generation supply to
the SIN increased by 21% in 2017 compared to the previous year. Nevertheless, energy
resources are still mainly hydropower and classic thermoelectric plants. The Colombian
electricity market began operation in 1995, as a response to the electricity shortage in 1992,
with two primary purposes: to get the most efficient electricity prices, and to ensure power
availability, regardless of weather conditions. The basic model used in the early stages
was the marginal price, which orders the generation offers by price (i.e., closed bids) until
the whole demand is covered, and the last resource price is the value to be paid to all
bidders [71]. On the other hand, a capacity charge was implemented, mainly for thermal
generation, to respond rapidly during dry seasons. The capacity charge was easy to report
for generation utilities, using technical data from generation assets and basic models for
the energy sources (fuels and reservoir levels). In 2006, the capacity charge evolved to the
availability charge, which required other parameters to be measured and reported and be
also aware of the competence data and strategies.
In 2014, another important event took place. It was the 1715 law that promotes the
introduction of non-conventional sources of energy, i.e., wind, SPV, biomass, large and small
scale [72], which would add to the generation mix but could also participate (with specific
calculation models) in the availability charge. With time, the introduction of this new
generation resources would demand detailed and more complex data analysis, including
forecasts, simulations and rapid response from the market agents. In this regard, traditional
generation utilities are called to update and improve their decision procedures, analysis
tools and data acquisition; especially, under the appearance of energy commercialization
schemes that allow users to participate in the electricity market with self-generation and
CHP surplus, as established by the Energy and Gas Regulatory Commission (CREG by its
initials in Spanish) in the Resolution No. 30 May 2018 [73]. Additionally, the Colombian
government launched the “Energy Transformation Mission” to build the roadmap for
future energy: efficient, reliable, sustainable in 2019 [74]. One relevant subject of interest is
“decentralization, industry digitalization and efficient energy management”. Nodal prices,
real-time data, advanced metering infrastructure (AMI), online bids, and demand response
are some of the schemes present in the short term; therefore, all agents must be prepared to
evolve in a digital transformation.
Energies 2021, 14, 2523 5 of 14

As has been shown, the Colombian electricity market is complex and those who
participate in trading operations are exposed to risks [75]. Such risks are difficult to assess
and manage since electrical energy is a non-storable primary good that does not allow
keeping inventories as hedge against fluctuations. Hence, the mitigation of such risks
has traditionally been carried out through the operation of bilateral contracts, which are
generally of the type “pay the contracted and pay the demanded”, also known as forward
contracts, which are difficult to rescind and generate credit risk [76]. Future contracts
also exist in Colombia, and considered to be an alternative to bilateral contracts to access
financial coverage that, due to its standardized nature and form of settlement, eliminates the
credit risk and provide the possibility of increasing the number of potential negotiators [75].

2.3. AES Colombia Digital Transformation

According to what has been stated up to this point, the Colombian energy market is
highly complex and depends mainly on hydropower generation, which is influenced by
different external variables that are difficult to control by the stakeholders. Therefore, trad-
ing agents on the stock market are exposed to several risks, which are difficult to manage
by applying only traditional methods that have been used in the financial market. This was
the scenario for AES Colombia until 2020, because the company used standard methods
such as handling large volumes of information by using spreadsheets that were disag-
gregated, independent and duplicated by different users. This situation generated errors,
inconsistencies, and reprocesses, leading to a lack of reliability, integrity and timeliness of
the information. Consequently, AES Colombia determined that there was a need to perform
a digital transformation by implementing a new infrastructure that comprises modern tools
to conduct data management processes, energy purchase and sale transactions, and con-
tract administration. This platform would represent a significant improvement in data
and information management to increase financial benefits in the energy purchase/sale
transactions carried out daily by the company, as well as contributing to the stability of the
complex national energy market, reducing risk exposure and uncertainty scenarios.

2.3.1. Project Description

AES Colombia decided to start the digital transformation of the organization with
the development and implementation of technological applications that support the op-
erational and commercial management, facing the requirements of internal and external
clients, with three main goals: (i) Customer service. Provide the user with a communica-
tion platform that satisfies informational requirements, facilitating online and real-time
consultation. (ii) Portfolio. Implement a commercial management tool that supports risk
management and portfolio administration. (iii) Stock transactions and contracts. Optimize
internal processes associated with the provision of supplies, analysis and presentation of
the offer on the stock exchange, through a technological platform that allows managing
information in an appropriate way, facilitating decision-making in uncertain scenarios.
This modern technological platform has been developed through the implementation and
articulation of commercial applications into the proposed architecture, Figure 1.
Energies 2021, 14, 2523 6 of 14

Additional
Backend
Applications Processes
History Private
Big Data cloud

Web/
Mobile Internet
Conventional
JSON RPA Cloud Computing
Backup Processing Applications
Backend

APIs
Company Security
Intranet
Network
Chatbot
Spreadsheet Modules
ENERGÍA
Enero
ENERGÍA OFERTADA
Febrero
ENERGÍA OFERTADA
APIs
Remote
HÁBIL SÁBADO DOMINGO FESTIVO HÁBIL SÁBADO DOMINGO FESTIVO
MW MW MW MW MW MW MW MW
Hora 1
Hora 2
Hora 3
Solution

Hora 4

Access
Hora 5
Hora 6
Hora 7
Hora 8
Hora 9
Hora 10
Hora 11
Hora 12
Hora 13
Hora 14
Hora 15
Hora 16

Analysis Processes Decisions Added value

Info synchronization Bids Report analysis Chatbot
Validations Settlements Monitoring Integration
Need

Model development Long-term projections Tactical decisions Automation

Report generation Continuous processing Strategic decisions Web interface

Figure 1. AES Colombia digital platform proposed architecture.

2.3.2. Methodology
The successful implementation of the digital transformation process required the
following 14 steps to adopt the proposed architecture within AES Colombia, but that can
be useful for another energy company: (a) Diagnostics and analysis of the current situation
of different areas of the company, in terms of the use of tools for the collection, storage,
analysis, preparation of reports and their socialization. (b) Assessment of the company’s
level of maturity to face the processes that must be implemented in the digital transforma-
tion process. (c) Review and adjustment of the company’s strategic objectives, mission,
vision and values towards digital transformation. (d) Identification of stakeholders, both
internal and external, that can be affected by the implementation of the project. (e) Analysis
of innovation capacities to take advantage of the benefits of the implementation of the
digital strategy, and analysis of the state of maturity of digital tools available at different
lines of business or areas of the company. (f) Development of a new business model, which
includes the mechanisms for approaching customers. (g) Training program implementation
to manage the change in digital transformation and the operation of the platform with
its applications. (h) Communications plan implementation to create a culture of change
towards digital transformation and to socialize the activities of the digital transformation
project with employees. (i) Resources are identified and quantified as required, as well as
the design of the administrative structure for digital transformation. (j) Action plan, which
includes working together with corporate areas such as: marketing, operations and pro-
cesses, financial management, portfolio management, and human resources, among others.
(k) Implementation of commercial applications to create the digital platform. (l) Impact
assessment through planning and monitoring performance indicators for the platform and
applications. (m) Adjustments to the platform and its applications that are considered
convenient for its appropriate performance. (n) Documentation.

3. Results
Some functionalities and advantages of the implemented platform include, among oth-
ers: decreasing response times and increasing the depth of the analysis of the company’s
portfolio; minimizing the risks of financial losses in energy purchase and sale contracts
through short, medium and long-term planning tools ,and the automation of processes
Energies 2021, 14, 2523 7 of 14

in commercial operations; increasing the depth of the analysis of energy trade contracts,
performing automatic supervision, with quick access to market data; projecting energy
prices on the stock market with the support and analysis of expert personnel; continu-
ous learning of the energy market by comparing data and information from projections
with real values to improve the quality of future estimates; automation of information
access at any time, simulation, projection, settlement calculations, access to historical data
and validation; automation of information processing, reducing the execution of manual
operations; automatic execution of parallel processes, saving the time of basic repetitive
tasks and complex optimization processes; automatic review of trading contracts with
current regulations; automatic report generation with information on the settlements of
energy purchase and sale contracts; simulation of multiple energy dispatch scenarios using
mathematical logic and variables updated by the National Dispatch Center; to prevent
possible financial losses, the platform applications evaluate the economic result with each
scenario to optimize and support the energy supply strategy of each day; and simulation
and evaluation of stock price scenarios, based on the dispatches of the electricity market
projected for the stochastic series of the hydrological contributions of the power plants,
for risk reduction.
The purpose of using modern technologies used in Industry 4.0 within the modular
architecture to automate processes, optimize operations and improve analysis performance
within the digital transformation (DT) is to increase the speed and reduce the operational
load of the analysts in the commercial area, using the best technology and information
available. An important result in this digital transformation process regards data normal-
ization that allows mapping, transformation and combination of disparate data sources
generated at different administrative and operational areas of AES Colombia, and third-
party data sources and at the same time. This permits the performance of knowledge-based
analytics about the service provided by the company by using an advanced data analysis
engine that uses Artificial Intelligence algorithms. This engine has been created to process
large-volume data sets for decision-making processes regarding, for instance, to customer
segmentation. Some time-reduction scenarios are shown in the following sections.

3.1. Example of Price Projections

The platform allows performing short/medium/long-term price projections with
simulations that consider variables related to demand growth, occurrence of El Niño or
La Niña, hydrology, thermoelectric plants production costs, fuel Availability, average fuel
prices (gas, diesel, coal, etc.), new generation projects, among others. Table 1 shows the
comparison of time spend for price prediction simulations, before and after the DT.

Table 1. Time comparison for price prediction simulations.

Time Time
Indicator
before DT (h) after DT (h)
Projection requirements 27 4.8
Information update 16 0.1
Scenario definition 3 0.5
Scenario simulation 4 4
Results generation 4 0.2
Total 54 9.6

3.2. Example of Report Generation

Analysts can download reports to spreadsheets with hundreds of variables from the
Colombian energy market in real time, using information from the National Dispatch
Center and the Administrator of the Commercial Exchange System, for any time frame.
Table 2 shows the comparison of time spend for reports generation, before and after the DT.
Energies 2021, 14, 2523 8 of 14

Table 2. Time comparison for reports generation.

Time before Time after

Indicator
DT (h/Month) DT (h/Month)
Daily bid, daily Report 30 15
Market share 8 1
Monthly commercial margin 6 0.5
Agents hiring 2 0.5
Consumption validation 2 0.1
Daily offer reports 60 15
Total 108 f32.1

3.3. Example of Offer Projections

Energy offer can now be computed using different scenarios using information from
the National Dispatch Center. This part of the platform allows comparing economic results
for such scenarios, which provide the company an optimized way to set-up the daily offer
strategy. Table 3 shows the comparison of time spend for computing daily offers based on
available information, before and after the DT.

Table 3. Time comparison for offer projections.

Time before Time after

Indicator
DT (h/Month) DT (h/Month)
Projection requirements 76 30

Although there are several advantages derived from the implementation of the digital
transformation, the greatest challenge faced with these implementations is to guarantee
appropriate communication between the work teams at the local and global level to ensure
beneficial impacts for the different stakeholders. Risks that represent downsides during
the execution of the project can be appear in three cases: (i) if due to world changing
conditions, the Colombian market becomes unstable, (ii) resistance to change by employees
and key stakeholders towards digital transformation, and (iii) difficulties to feed data and
information to the applications of the platform.
The main weaknesses that have been faced with this transformation are related to both
human and technical factors. The major resistance to change, especially change referring to
new procedures to be implemented because of governance requirements, is that it has been
difficult for users to adopt new ways of working, given the dependency of their tasks on
outputs from other users as a condition to achieve successful results. On the other hand,
when it comes to steps that must be done sporadically, users usually ask for advice and even
new training to keep the outputs as expected. Knowing that motivation and proficiency
are factors with high impact on project success, a change management plan has been
deployed as a measure for attending these situations, which are predictable in most of the
cases. Consequently, the methodology in this field must be formally established to ensure
effectiveness and wide usage of the systems that have been implemented. From the side
of technical factors, issues with time response and server capacity have been challenging,
but in some way this topic is easier to solve when compared to previous issues. It is
important to note that all the efforts to improve better relations among users, procedures
and tools are in the scope of the project as a permanent goal since these are joined, forming
a set which evolves continuously, affecting each other. From that perspective, the change
should be managed as a goal that never ends if we want to harvest the best results along
this digital transformation pathway.

4. Discussion
As has been shown with some results obtained using the new platform, informa-
tion will no longer be processed manually with spreadsheets, which allows storing and
Energies 2021, 14, 2523 9 of 14

processing of information in a reliable and timely manner, among many other functions.
In addition, reports can be generated in real time for the various areas of the company
that make decisions regarding the operation of the electric power market. The digital
transformation process generated several value-added functions such as carrying out
reconciliations of contracts with customers, reviewing price trends, generating reports to
compare the number of contracts with the generation potential in a given period of time,
support for the analysis of all commercial transactions in which the company incurs, in the
short, medium and long term, determining the amount of energy to generate or availability
to honor the contracts, among others.
Regarding energy transitions, AES Colombia created a powerful centralized platform
with different areas of the company to perform transactions and maintain relationships
with external users, in the context of the digital transformation process. This platform
centralizes contracts, income and costs and allows the company to know in real time its
position at global and local levels in the country’s context, contributing to Colombia’s
energy companies transition, which is an example for the Latin American context.
The size of the digital transformation project required designing and implement-
ing a change management program, which includes, among other aspects, purchasing
management and coordination, planning and execution of communications, definition of
commercial sales processes to take full advantage of the technological applications that
have been integrated in the platform. The platform and its applications allow evaluation of
market models, impacts of new regulations, reservoir management, contracting levels, cost
declaration, and incorporation of new plants. Additionally, the contribution and impacts
of unconventional energy plants to the Colombian energy system, among other factors.
With this platform it is possible to know the relationships of the stock prices and the prices
of contracts to determine end-user rates; in this way, the interaction of the unregulated
and regulated wholesale markets and the impact of one on the other can be represented,
thus allowing the generation of financial reports for various users within the company.
This represents a clear example of a successful digital transformation process of an energy
company that adds insightful ideas to the state of the art.
The project, conceived as a broad framework of digital transformation using Industry
4.0 tools, comprises applications that range from the management of hydrological, opera-
tional, and market information, passing through commercial information systems to reach
platforms whose ultimate purpose is to facilitate consultation and analysis by internal and
external clients. All these applications connections demonstrate the relevance of modern
technologies such as Artificial Intelligence, machine learning, and blockchain to perform
knowledge-based analytics by using an advanced data analysis engine created to process
large-volume data sets for decision-making processes.
The execution of the project allowed the transition from a local management strategy
to a global one that requires synergies, learning processes, teamwork, communication skills,
and mastery of different technological tools. The implementation of the new platform
entails the management of structured data volumes that potentiate the generation of value
regarding the information required for risk management and decision-making. The latter
are key elements for a complex market, such as in the Colombian case, since the new
platform supports short-term decisions and the optimization of the operation using modern
tools to process significant volumes of market information, providing better scenarios,
reliability and integrity.
Challenges were addressed with the fluid adoption of new procedures, which implied
a determined effort through mechanisms such as regular training, practical guidelines
for using the tools properly, follow-up meetings and socialization of the experience of
each user, to ensure that the systems are used in daily basis for all the activities; it is
worth emphasizing the importance of enhancing our culture within the user group, this
is a long-term commitment that involves time, effective communication and willingness.
Finally, despite being a technological project, the success factor and the big challenge is
related to human being, and that is where efforts must be focused.
Energies 2021, 14, 2523 10 of 14

It is worth mentioning that until 2012, the company only had the Chivor Hydropower
Plant in Colombia. In search of the company’s energy transition, in 2012, a small hydroelec-
tric plant came into operation with an installed capacity of 20 MW. In 2019, AES Colombia
started operating the Castilla solar PV park with 21 MWp. Additionally, during 2020 the
company started building the largest wind project in Colombia with 649 MW. In this regard,
the wind and solar projects will help AES Colombia optimizing the portfolio using the digi-
tal transformation project that has been addressed in this work. In particular, the operation
of wind energy plants operation must be considered in analyzing the transactions on the
stock market, which is currently developed under a day ahead scheme; with these plants’
incorporation, it will migrate towards an intraday model. Although they are oriented
towards self-generation, the models must consider the company’s projects and other fields
installed to guarantee a correct reading of the market. The implemented platform will
be required to facilitate this reading and favor adaptation to these changes. In this way,
artificial intelligence and automation processes constitute a competitive advantage for
the organization.
As addressed in the introduction section, energy transitions started at several places
at the end of the 20th Century, including some events that have been reported in Colombia
by Martínez and Castillo [77] for the energy sector. However, no reports have been found
in the literature for the region and Colombia that address the main challenges to transform
electric power systems at large-scale using modern technologies that allow digitalization,
as described by Voropai [27]. Consequently, this case report addressing the commercial
digital transformation process at AES Colombia, developed through the implementation of
a novel information management platform based on specialized applications and Industry
4.0 technologies, constitute one of the first reports for digital transformation processes
in the region. The results have shown that such a platform allows reducing risks and
uncertainties, and facilitates the implementation of appropriate models to optimize energy
trading transactions, contributing to achieve enterprise sustainability and to the stabilize the
complex Colombian energy market while seeking “access to affordable, reliable, sustainable,
and modern energy”. The digital transformation process involved several technological
challenges; however, because the implementation recently started, this study has been
limited to the first findings regarding time reductions obtained with the new platform;
further studies must be conducted with emphasis on management strategies to tackle
cultural changes that are expected for all the stakeholders, based on continuous assessment
and improvement.

5. Conclusions
This work addressed the execution of the commercial digital transformation project
that has allowed AES Colombia to transition from a local management strategy to a
global one that involves synergies, learning processes, teamwork, communication skills,
and mastery of different technological tools. The implementation of such tools, which
extensively use Industry 4.0 tools, entails the management of structured data volumes that
potentiate the generation of value regarding the information required for risk management
and decision-making.
The main advantages derived from the implementation of the digital transforma-
tion are linked to the changing nature of the Colombian market (that relies mostly on
hydropower), the growing and varied expectations of customers and the uncertain envi-
ronment that characterizes decision-making in commercial matters in the energy market.
All these factors have been covered by the implemented platform, translating into relia-
bility, timeliness, ease of access and integrity of the information, and strengthening of the
relationship with the client for an energy company whose main asset is a hydropower plant.
Although hydropower plants often create negative environmental and social impacts
over specific regions, AES Colombia is extending the life of the Chivor Hydropower
Plant [68], its main asset that covers 6% of Colombia’s demand and that was built in the
1970s. This, together with the digital transformation project, represent key efforts to benefit
Energies 2021, 14, 2523 11 of 14

the entire national electricity sector, thus contributing to its stability and helping to make
sustainable energy available at all times to the entire population and any productive sector
in the country, thanks to the use of modern tools that allow reducing risks and improving
decision-making processes.
The commercial digital transformation process at AES Colombia opens to possibilities
related to improving systems and energy production forecasts, adopting new variables, de-
veloping business solutions and procedures that support them. Market trends require new
technologies in line with their evolution. It will imply carrying out a periodic validation
of the obtained results with the new platform against the real information and carrying
out a follow-up to changes in the operation and the market to ensure the incorporation of
necessary adjustments that allow the decision tools’ continuous updating.
Since commercial transactions imply the management of information inputs from
various sources that complement each other, the use of specific applications, which allow
using high volumes of data and facilitate the provision of information in real time, constitute
important tools to support decision-making processes within the digital transformation of
energy companies.
Although digital transformation processes involve several technological challenges,
they should be conducted with emphasis on the human being since cultural changes are
expected in all the stakeholders. Therefore, activities such as regular training, practical
guiding, follow-up meetings, socialization of the user experience, among others, are key
to emphasize the importance of enhancing the culture towards using new systems and
technologies. From that perspective, such transformation processes should be managed
with never-ending goals that imply continuous assessment and improvement.

Author Contributions: Conceptualization, S.G., D.l.R., C.N.-L., R.E.V. and A.E.-A.; methodology,
S.G., D.l.R.; validation, S.G., D.l.R., C.N.-L., R.E.V. and A.E.-A.; formal analysis, C.N.-L., R.E.V.
and A.E.-A.; investigation, S.G., D.l.R., C.N.-L., R.E.V. and A.E.-A.; writing—original draft prepara-
tion, C.N.-L., R.E.V. and A.E.-A.; writing—review and editing, C.N.-L., R.E.V. and A.E.-A.; super-
vision, C.N.-L., R.E.V. and A.E.-A. All authors have read and agreed to the published version of
the manuscript.
Funding: This work was developed with the funding of AES Colombia and is partially registered
in the Colombian Ministry of Science, Technology, and Innovation (Minciencias) as a technological
development project “Plataforma de transformación digital, oportuna y analítica del relacionamiento
con los clientes en AES CHIVOR, en cuanto a datos, información, operaciones y procesos de compra
y venta de energía”. as allowed by the National Tax Benefits Council, Project 78584.
Institutional Review Board Statement: Not applicable.
Informed Consent Statement: Not applicable.
Acknowledgments: The authors would like to thank AES Colombia and all the teams that have
participated within Chivor’s Digital Transformation Project.
Conflicts of Interest: S.G. works for AES Colombia as a commercial analyst and led all activities
during the different phases of system implementation. D.l.R. works for AES Colombia as director of
market operations, and led the digital transformation project implemented by the company.

Abbreviations
The following abbreviations are used in this manuscript:

AI Artificial Intelligence
AMI Advanced Metering Infrastructure
DT Digital transformation
ETRM Energy Trading and Risk Management
CHP Combined Heat and Power
Energies 2021, 14, 2523 12 of 14

CREG the Energy and Gas Regulatory Commission

IEA International Energy Agency
IT Information Technologies
IoE Internet of Energy
IoT Internet of Things
SDG Sustainable Development Goal

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