Volue extends partnership with Iberdrola for power scheduling and algo trading

The new software packages will be installed on several of Iberdrola’s wind farms, including the 350MW Wikinger offshore facility.

The Wikinger wind farm is one of many that will be managed by Volue’s software solutions. Credit: Iberdrola.

Volue has signed a deal to provide Spanish energy major Iberdrola with two energy trading software solutions for use in the German and French energy markets.

Iberdrola will be using two of Volue’s major software packages – DeltaXE and Volue Algo Trader Power – to help strengthen its position in the European markets.

According to a press release, DeltaXE, Volue’s trade and logistics solution, “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”. The software will assist in Iberdrola’s trading activities across France and Germany.

Meanwhile, Volue Algo Trader Power, which is already used by more than 70 companies across Europe, “automates continuous intraday power trading” using “parametrizable algorithms” to create an automated and stable trading platform.

The new software packages will be installed on several of Iberdrola’s wind farms, including the Wikinger offshore facility, which forms part of the company’s German portfolio. The 350MW wind farm was the first offshore wind farm to be entirely designed and operated by a Spanish company.

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Iberdrola has seen success in recent months, announcing today that its first-quarter net profit has skyrocketed to €2.76bn ($2.96bn), an 86% increase from the previous year. However, the company has also seen its total revenue for the quarter decline by 18% overall from its position a year ago, due in part to a 10.7% decrease in the company’s installed capacity.