Iberdrola signs up for new Volue software

Bilbao-based multinational energy company, Iberdrola, is to use energy trading software from Volue, a publicly traded Norwegian firm, to optimise power scheduling and algorithmic trading in the German and French energy markets.

The Spanish company has signed up for DeltaXE and Volue Algo Trader Power. The first of these is a trading and logistics system for the European power and gas markets. It provides real-time insight into all trades and positions across the region’s energy markets. It will provide Iberdrola with power scheduling support in the German and French markets where it has energy production facilities.

Volue Algo Trading Power automates continuous intraday power trading. Its adoption will mean that Iberdrola joins more than 70 companies across Europe that already use ‘parametrisable algorithms’ to optimise the returns from automated intraday trading.

Germany’s 350-MW Wikinger wind farm, located in the Baltic Sea and part of Iberdrola’s German portfolio, will be managed by the new software. The energy company is also developing two new Baltic wind farms – Baltic Eagle and Wikinger Süd – which will use the software. Iberdrola’s three installations will make up the largest offshore wind complex in the Baltic, with a total installed capacity of 836 MW.

Meanwhile, Iberdrola also owns the Saint-Brieuc wind farm off the Brittany coast where production started about a month ago. This 496-MW facility will also be managed using Volue software.

Volue CEO, Trond Straume, commented: “This new partnership for the provision of our energy trading software provides an end-to-end solution to empower Iberdrola to achieve increased levels of automation and reliability in its trading endeavours.”

Volue is a portfolio company of Arendals Fossekompani, an industrial investment company and its largest shareholder.