Arenko has agreed to a framework deal with RWE Supply and Trading, in which RWE is set to use Arenko’s Nimbus Trade product as part of its U.K. trading desk.
The technology is expected to be deployed on three DC-coupled solar projects which are currently under construction, with the first two projects scheduled to go live next year.
Under the agreement, RWE’s in-house trading algorithms and trading capabilities will be integrated into Arenko’s Nimbus Trade product. RWE says its trading desk currently trades approximately 17.5% of U.K. power.
Nimbus Trade, Arenko’s trading product, is meant to help large energy companies manage diverse and complex renewables and battery portfolios to deliver superior returns through standardizing and operationalising asset control systems and data flows, streamlining connectivity and integrations with existing IT systems and automating trading processes.
Nimbus Trade is one of Arenko’s modular products from the Nimbus Platform that links key stakeholders onto a single, common digital backbone with applications for traders, asset managers, owners and back-office teams.
“We are delighted to have been selected by RWE and agreed to a framework deal with them for Nimbus to help support their operations, and we look forward to building this relationship,” says Rupert Newland, founder and CEO of Arenko.
“The three initial DC-coupled solar projects are some of the most advanced, large-scale collocated projects in the world and we can’t wait to go live early in the new year. RWE is a major new software customer for Arenko and we are thrilled to be playing our part in helping them to achieve their ambitious targets. Developing software at an enterprise grade level for globally leading customers, like RWE, is core to achieving Arenko’s mission and vision and testament to the quality of our software product.”
