Aggreko lands $40m Winter Olympics power contract

Aggreko will help keep the lights on at the 2018 Winter Olympics in PyeongChang. Picture: Al Bello/Getty Images
Aggreko will help keep the lights on at the 2018 Winter Olympics in PyeongChang. Picture: Al Bello/Getty Images
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Temporary power specialist Aggreko has won a deal to help keep the lights on at next year’s Winter Olympics in the South Korean city of PyeongChang.

The Glasgow-based firm, which has also been selected for the 2018 Commonwealth Games on Australia’s Gold Coast, said the Olympic contract was worth about $40 million (£32.6m).

READ MORE: Aggreko to power Gold Coast Commonwealth Games

Under the PyeongChang deal, Aggreko will provide power across 18 competition venues and the international broadcast centre, “ensuring an uninterrupted television broadcast to millions of viewers throughout the world”.

Chief executive Chris Weston said: “I am delighted that Aggreko has been appointed the official power provider for the Olympic Winter Games PyeongChang 2018. We look forward to helping the organising committee deliver another successful games.”

In November, Aggreko said it was confident of delivering annual profits broadly in line with City hopes despite seeing revenues fall during the third quarter.

Underlying revenues for the three months to the end of September were 7 per cent down on a year earlier, with sales at its generator hire business “materially lower” in North America amid the ongoing weakness in the upstream oil and gas sector.

At the time, Weston said the group expected to deliver an underlying pre-tax profit of about £225m for the year, compared with the £252m it reported for 2015.

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