Aggreko Wins Power Supply Contract For 2018 PyeongChang Olympics

Power supply company Aggreko has "won a contract to provide power for the 2018 Winter Olympics in South Korea," according to Rhiannon Bury of the London TELEGRAPH. The Scotland-based company, which supplies generators for events and large energy users, "will provide temporary power for 18 competition venues and an international broadcast centre for the games in Pyeongchang," in a contract worth an estimated $40M. Aggreko will "also be a sponsor for the games as part of the deal." Aggreko had earlier "pulled out of a tender to supply generators" to the 2016 Rio Games, after not being awarded the first tranche of contracts. Shares in the company "were up as much as" 1.69% in Wednesday morning’s trading, to 965p (TELEGRAPH, 1/4). REUTERS' Esha Vaish reported the contract win "comes amid a tough period for Aggreko," which said late last year that it was "reviewing the value of its North American fleet of oil and gas rental generators after further weakness in that market hit its quarterly revenue" (REUTERS, 1/4).