Italian energy giant Enel signs a strategic partnership contract with Powel

Italian energy giant Enel buys software from Powel to increase the revenues from power generation. Powel is the largest software company within industrial IT in Norway and has expanded its business in the European energy sector strongly 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 euros.
“A few percent top-line growth, which is what our software is designed to bring out, represent tremendous values for a company like Enel,” says Trond Straume, CEO at Powel.

This 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. Powel’s portfolio currently includes major clients such as Axpo, E.ON, Fortum, Luminus, RWE, Statkraft, Uniper, and Vattenfall.

“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,” says Straume.

The Enel contract is an important milestone for Powel. 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. The international software company Powel headquartered in Norway 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,” says 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, says 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,” says Straume.