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Aggreko wins US$200mln 2020 Tokyo Olympics power contract

The temporary power provider said the contract win reinforces Aggreko's confidence in its ability to achieve its mid-teens ROCE target in 2020

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Aggreoko won a deal to provide temporary electricity systems for the Tokyo 2020 Olympic and Paralympic Games

Aggreko PLC (LON:AGK) has been awarded a US$200mln contract to provide temporary electricity systems to support the Tokyo 2020 Olympic and Paralympic Games.

The temporary power provider on Friday said the agreement would see it provide electricity generation and distribution systems to support the Tokyo games across 43 competition venues, ensuring reliable power for all venues and uninterrupted television broadcast to millions of viewers.

READ: Aggreko weak as Barclays cuts rating to ‘equal-weight’ from ‘overweight’

The FTSE 250-listed firm said the contract win reinforces Aggreko's confidence in its ability to achieve its mid-teens ROCE target in 2020.

The contract was awarded to Aggreko’s subsidiary - Aggreko Events Services Japan Limited.

"We are delighted to have secured what is one of the most prestigious event contracts won by Aggreko. 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,” CEO Chris Weston said in a statement.

Aggreko has a 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.

Quick facts: Aggreko

Price: £8.31

Market: LSE
Market Cap: £21.33 m
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