Volue has signed an agreement to supply Spanish energy giant Iberdrola with two energy trading software solutions for use in the German and French energy markets.
Iberdrola will use two of Volue’s key software packages – DeltaXE and Volue Algo Trader Power – to help strengthen its position in European markets.
According to a press release, DeltaXE, Volue’s trading and logistics solution, “acts as a real-time position management solution that captures all trades and positions across all markets and supports the planning and nomination processes with integration into most European energy and gas markets.” The software will assist Iberdrola’s trading activities in France and Germany.
Meanwhile, Volue Algo Trader Power, already used by more than 70 companies across Europe, “automates continuous intraday energy trading” using “parameterizable algorithms” to create an automated and stable trading platform.
The new software packages will be installed at several of Iberdrola’s wind farms, including the Wikinger offshore facility, which is part of the company’s German portfolio. The 350MW wind farm was the first offshore wind farm to be designed and operated entirely by a Spanish company.
Volue CEO Trond Straume said: “This new partnership to deliver our energy trading software provides an end-to-end solution to enable Iberdrola to achieve higher levels of automation and reliability in its trading operations.”
Iberdrola has seen success in recent months and today announced that its first quarter net profit shot up to 2.76 billion euros, an increase of 86% compared to the previous year. However, the company also saw its total revenue for the quarter decline 18% overall from year-ago levels, partly due to a 10.7% decline in the company’s installed capacity.
“Volue Expands Partnership with Iberdrola for Energy Planning and Algo Trading” was originally created and published by Power Technology, a brand owned by GlobalData.
The information on this site has been included in good faith for general information purposes only. It is not intended to amount to advice on which reliance should be placed and we make no representation, warranty or guarantee, express or implied, as to its accuracy or completeness. You must obtain professional or specialist advice before taking or refraining from any action on the basis of the content on our site.