Powel ASA and the leading Nordic energy company, Fortum Corporation signed today a major contract to deliver IT-systems with related services for implementation and maintenance. Fortum will use the system to support production planning and optimizing revenues from their total hydro-electric power production.
The Powel system will be extensively used to manage Fortum’s hydro-electric power production, and make Powel’s system portfolio even more suitable and ready for an international hydropower market. The delivery of the systems will start immediately and go live in 2007. The agreement has a duration of 5 years.
For Fortum, the IT system will be a pan-Nordic solution, meaning it will support the optimization of hydroelectric production in Nordic countries.
Fortum will streamline Nordic operations with Powel system.
Both Powel and Fortum see an interesting potential in the agreement and both parties look forward to develop the portfolio utilization concept further in close cooperation.
-Powel was able to fulfill our stretched requirement. Once we have the new system up and running, Fortum will be able to optimize the use of its assets even better.By using a single Powel system, we can operate our whole Nordic generation portfolio. We have high expectations on the new setup and plan to continue our close cooperation with Powel into the future, says Per Langer, President, Fortum Portfolio Management and Trading.
-The agreement confirms that Powel system ranks among the world’s best solutions for maximizing of revenues from complex power production systems.
It will also strengthen Powel’s growth and position internationally, says CEO in Powel Jon Einar Værnes.
Fortum Corporation:
Fortum is a leading energy company in the Nordic countries and the other parts of the Baltic Rim. Fortum’s activities cover the generation, distribution and sale of electricity and heat, the operation and maintenance of power plants as well as energy-related services. The main products are electricity, heat and steam. Fortum’s competitiveness in the power and heat business is based on a pan-Nordic concept. It is characterized by a high level of operational efficiency and a broad customer base. Fortum's shares are quoted on the Helsinki Stock Exchange. In 2004 the net sales totaled EUR 11.7 billion. The average number of employees was 12 900.
Powel ASA:
Powel ASA, headquartered in Trondheim, Norway, supplies software and services to help energy companies and the public sector to operate more efficiently. The company is a market leader in it’s field in Scandinavia, and has set up offices in Sweden, USA and Canada. Since it was founded in 1996, the company has grown from an initial 37 employees to 200. Market prospects for Powel appear very good in both the energy industry and public sector.
For further information, please contact:
CEO Jon Einar Værnes (Work) +47 73804500 (Cell) +47 48164555
Director Tom A. Røtting (Work) + 47 73804500 (Cell) +47 48164544