Volue extends its partnership with Iberdrola to provide power scheduling and algo trading in the German and French energy markets
Volue, a leader in technologies and services that enable its customers to succeed in the energy transition, has signed a deal to provide the Spanish energy giant, Iberdrola, with two of its energy trading solutions: DeltaXE and Volue Algo Trader Power.
Continuous market changes in the European markets, such as the communication protocol transition to AS4 in Germany, and the continuously evolving portfolio of Iberdrola in Europe, require flexible software solutions and expertise like that offered by Volue.
DeltaXE is Volue’s trade and logistics solution for the European power and gas markets. It serves as a real-time position management solution capturing all trades and positions across all markets, supporting the scheduling and nomination processes with integration to most European power and gas markets.
Its use by Iberdrola in France and Germany will see the delivery of straightforward power scheduling support that makes the business development activities of Iberdrola in the different European markets hassle-free.
Volue Algo Trader Power automates continuous intraday power trading. Iberdrola now joins more than 70 companies across Europe that use the software in the continuous intraday market by use of parametrisable algorithms, delivering an extremely reliable platform which maximises the PnL and automates intraday trading.
The Wikinger offshore wind farm is one of the main assets composing Iberdrola’s German portfolio that will be managed with Volue software. This wind farm, with an installed capacity of 350 MW, was the first offshore wind farm designed and operated entirely by a Spanish company, confirming the company's consolidation as a benchmark in the renewable energy sector in Europe.
The construction of two further offshore wind farms is now underway: Baltic Eagle (476 MW) and Wikinger Süd (10 MW). The sum of these three projects, all located next to the island of Rügen, make up the largest offshore wind complex in the Baltic Sea, with a total installed capacity of 836 MW.
In France, the Saint-Brieuc offshore wind farm is Iberdrola's first large-scale offshore wind power project in Brittany. When it becomes fully operational in early 2024, it will have a total installed capacity of 496 megawatts (MW).
Trond Straume, CEO, Volue, said: “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 endeavors.”