Italian energy giant signs strategic partnership contract with Powel - Intelligent CIO Europe
Italian energy giant signs strategic partnership contract with Powel

Italian energy giant signs strategic partnership contract with Powel

Italian energy giant, Enel, has purchased software from Powel to increase the revenues from power generation. Powel is the largest software company within industrial IT in Norway and has strongly expanded its business in the European energy sector during the last decade.

With an annual production of 250 TWh, Enel is one of the largest energy companies in the world. The Italian energy company has 73 million end-users around the world and an annual revenue of €75.7 billion. “A few percent top-line growth, which is what our software is designed to bring out, represent tremendous values for a company like Enel,” said Trond Straume, CEO at Powel.

The contract confirms Powel’s position as a market leader. Powel is a leading provider of software solutions for forecasting, optimisation, production planning, energy trading and scheduling in Europe and is owned by the industrial investment company, Arendal Fossekompani.

“This strategic contract confirms Powel’s position as a market leader for power production optimisation and trading and is another confirmation that our solutions have great international potential,” said Straume.

Powel will provide software to forecast and optimise Enel’s power generation in Italy, both hydropower and thermal power generation, as well as wind power, solar power and batteries in the different Italian power markets. This portfolio consists of around 700 production units, out of which around 200 flexible hydropower plants and 50 flexible thermal power plants. Powel will also provide software for optimisation, trading and market communication for Enel’s renewable power generation worldwide.

An innovative software is required to adapt to changes

“This is the largest contract in Powel’s history. The contract with Enel means a lot to us both in terms of market visibility and for further development of our products. We expect further growth in Europe,” said Straume.

The Italian market framework is changing rapidly and Enel needs software solutions to catch new opportunities of value creation in an increasingly competitive environment. Enel aims at maximising the value of its assets against the different markets and chose to collaborate with Powel.

“The adoption of the Powel software aims at increasing revenues from the asset-backed trading system portfolio. The competences of Powel and the capabilities of the solution are the most important reasons why we decided on Powel as a partner,” said Marco Virgili, Head of Energy Management Digital Factory at Enel.

“Sustainability is key to Powel’s and Enel’s business. Our shared values will facilitate collaboration and increase the success,” said Straume.  

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