Aspen Technology Chosen to Optimize Renewable Generation For Iceland’s Largest Power Producer

By: Aspen Technology, Inc. via Business Wire

November 14, 2024 at 09:00 AM EST

Innovative digital technologies key to helping Landsvirkjun integrate and control power generation while achieving carbon neutral goals

Aspen Technology, Inc. (NASDAQ: AZPN), a global leader in industrial software, today announced a strategic partnership with Landsvirkjun, the largest power producer in Iceland. The utility will be implementing AspenTech OSI Digital Grid Management software that will enable it to enhance real-time control and optimize power generation, ensuring the secure and efficient management of its 18 plants across Iceland.

Landsvirkjun is the National Power Company of Iceland and is a pioneer in utilizing renewable resources, generating approximately 70% of the nation's electricity from hydroelectric, geothermal, and wind sources. With Iceland’s electricity sector almost completely reliant on renewable energy, and much of its electricity generated by hydroelectric power stations, Landsvirkjun plays a critical role in power generation for the nation.

"This partnership with AspenTech focuses on helping to ensure reliable and efficient power generation for Iceland," said Gunnar Guðni Tómasson, EVP of Hydropower at Landsvirkjun. "AspenTech’s Digital Grid Management solutions will help us to more efficiently obtain data for analysis, support faster and more accurate decision-making and enable us to operate our power stations optimally to meet power demand.”

Sally Jacquemin, Vice President and General Manager, Power and Utilities at AspenTech, added, "AspenTech is committed to providing innovative digital solutions that support our customers in achieving their operational performance and sustainability goals. The collaboration with Landsvirkjun underlines the importance of integrating large scale renewables on the grid and the flexibility of our solutions to support the unique energy frameworks of our partners around the world."

Landsvirkjun is implementing AspenTech OSI Digital Grid Management software that includes SCADA, Generation Management and Historian capabilities to significantly support the operational efficiency and resiliency of the utility. The deployment enables more efficient power generation bolstering the resilience of Iceland’s energy infrastructure with digital capabilities such as production costing and economic dispatch, schedule optimization, real-time control, data historization and advanced reporting.

For more information about the sustainable initiatives and technologies at Landsvirkjun and AspenTech, please visit the following resources:

About Aspen Technology

Aspen Technology, Inc. (NASDAQ: AZPN) is a global software leader helping industries at the forefront of the world’s dual challenge meet the increasing demand for resources from a rapidly growing population in a profitable and sustainable manner. AspenTech solutions address complex environments where it is critical to optimize the asset design, operation and maintenance lifecycle. Through our unique combination of deep domain expertise and innovation, customers in asset-intensive industries can run their assets safer, greener, longer and faster to improve their operational excellence. To learn more, visit AspenTech.com.