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Insider UK
Insider UK
Sport
Perry Gourley

Aggreko wins $200m Tokyo Olympics contract

Temporary power provider Aggreko has secured a deal worth around $200m to work on the 2020 Olympic games and Paralympic games in Tokyo.

The Glasgow-based group’s Japanese subsidiary has won the contract to provide electricity to power 43 competition venues, the Athletes Village and the broadcast centre which will be used by the world's media.

Aggreko said the deal reinforces its proven track record in supporting high profile events including this year's PyeongChang Winter Olympics, Gold Coast Commonwealth Games, European Championships in Glasgow and Ryder Cup in France.

Chief executive Chris Weston said the Tokyo contract was one of the most prestigious the company had won.

“Our experienced team will support the Tokyo 2020 Organising Committee to ensure our role in the success of the 2020 Olympic and Paralympic Games is flawlessly delivered,” he said.

In August Aggrekosaid it was on course to meet full-year forecasts after an “encouraging” first-half performance.

Although headline pre-tax profits fell by 7% to £59m for the year to 30 June, it said underlying growth was 8%.

Underlying revenues rose by 14% to £857m with its rental division seeing a 32% increase and its power solutions arm up 15%.

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