EDP Selects Copperleaf for Asset Investment Planning and Portfolio Optimization
VANCOUVER, BC, March 19, 2024 /CNW/ - Copperleaf® Technologies Inc. (TSX: CPLF) ("Copperleaf" or the "Company"), announces the selection of its asset investment planning and decision analytics solution by two of Energias de Portugal's (EDP) distribution businesses, operating in Portugal and Spain.
E-REDES Portugal, the company that manages the electricity distribution network in mainland Portugal, has selected the Copperleaf solution to manage its ageing asset population, boost transparency into its planning process, and secure the long-term resilience of the network. The electricity distribution system operator serves more than 6,5 million customers across mainland Portugal, spanning a network of 228,000 km.
The objective of this transformative project is to enhance asset management strategies in order to effectively handle the temporal progression of asset failure risk, stemming from the anticipated deterioration of their condition. This will facilitate the development of modernization strategies that, in combination with other investment drivers such as digitalization, electrification, and decarbonization, will form the multi-year investment portfolios. Leveraging the copperleaf tool, E-REDES will refine and fine-tune these portfolios, ultimately delivering greater value for all stakeholders.
"EDP is driven by sustainability, and we are delighted the organization has chosen Copperleaf to support its decarbonization journey," said Cristiano Martincigh, Regional Director for Southern Europe and Middle East at Copperleaf. "Copperleaf will empower EDP's Portuguese and Spanish distribution companies to manage ageing assets, boost transparency into its planning process, and enhance investment decision making."
"Like many energy companies, EDP must overcome a number of critical business challenges to achieve net zero goals," added Stefan Sadnicki, Managing Director for Copperleaf in Europe, Middle East, and Africa (EMEA). "The Copperleaf solution will support the two operators to take a proactive approach to risk management and provide the agility it needs to plan for an uncertain future."
"We are confident that Copperleaf's solution will strengthen and streamline the development of long-term asset management strategies.", said Miguel Freitas, head of the Asset Management Strategy Department of E-REDES.
Rita Rebelo, Strategic Planning Manager for the high and medium voltage networks, added that "Copperleaf will empower our team to effectively create, manage, and optimize investment plans to achieve our overarching objectives."
This press release may contain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws in Canada, including, without limitation, statements with respect to our expectations, plans or future opportunities. Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that we consider appropriate and reasonable on the date such statements are made, but which are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results, level of activity, performance or achievements will be materially different from those expressed or implied by such forward-looking information, including, but not limited to, the risk factors described in our 2024 Annual Information Form ("AIF") under "Risk Factors". Accordingly, readers should not place undue reliance on forward-looking information.
Except as required by securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update this forward-looking information if the Company's expectations regarding future events change, or actual results differ from the expectations expressed in this press release.
EDP is a leading energy integrated utility with a global footprint. Founded in 1976 through the merger of 14 nationalised electricity companies, EDP generates and distributes electricity using wind energy, solar energy, and other renewable sources. The company aims to be 100% green by 2030 by delivering sustainability goals, committing to transparency, and investing in the future of the network.
E-REDES Portugal is the main distribution system operator in mainland Portugal for high, medium and low voltage electricity distribution networks, serving more than 6.5 million customers across mainland Portugal and spanning a network of 228,000 km.
Copperleaf (TSX:CPLF) provides enterprise decision analytics software solutions to companies managing critical infrastructure. We leverage operational and financial data to empower our clients to make investment decisions that deliver the highest business value. What sets us apart is our industry-leading products and our commitment to providing extraordinary experiences, shaped by people who care deeply and partnerships that stand the test of time. Copperleaf is actively involved in shaping and implementing global industry standards and sustainability principles through our participation in the United Nations Global Compact, the Institute of Asset Management, and other organizations. Headquartered in Vancouver, Canada, our solutions are distributed and supported by regional staff and partners worldwide. Together, we are transforming how the world sees value.
Source: Copperleaf Technologies Inc. CPLF-IR
SOURCE Copperleaf Technologies Inc.
Please contact: Copperleaf Technologies Inc., Office: +1.604.639.9700, Email: Media Relations
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