Aggreko wins $40m deal to power the 2018 Winter Olympics

 
Oliver Gill
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Around The Games: Day 5 - 2014 Winter Olympics
The 2014 Winter Olympics were hosted by Russia (Source: Getty)

Scottish power firm Aggreko has been given the important job of ensuring the lights stay on at next year's Winter Olympics in South Korea.

The news will come as welcome relief to the firm having endured a challenging 2016 that included missing out on a similar contract with organisers of the the summer games in Rio.

Read more: Aggreko revenues fail to light up as US oil downturn weighs on firm

Aggreko will be in charge of providing temporary power to 18 venues and broadcast centres in and around Pyeongchang in a deal worth $40m (£33m). The group, the world's largest temporary power provider, will also be an official sponsor of the winter games as part of the deal.

The oil and gas sector has traditionally been prime pickings for Aggreko and the downturn in the sector has weighed heavily on the firm.

Read more: Aggreko fails to impress but not one mention of Brexit

In November, the company revealed it was reviewing the value of its specialist oil and gas equipment, including its small generators, which could prompt a writedown.

The 2018 Winter Olympics will be the first to be hosted by an Asian country outside of Japan, which hosted the games in 1972 and 1998.

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