The renewable energy drive that is sweeping through Europe is also creating new markets and opportunities within the physical power markets for those with competence, experience and innovative skills to capture these possibilities.

The prize is awarded by Powel, Europe's leading software systems provider within hydropower production planning and grid information systems, and acknowledges Hydro as the frontrunner within these highly competitive markets.

"This prize is in reality a symbol of our strong ability to join forces to lift performance, with the Portfolio unit, the Hysam "back office", our power control center at Rjukan, Norway, and our IS/IT experts all coming together to bring out the full value of our new IT capabilities and analysis tools to enhance performance within physical markets," said Pål Otto Eide, head of Portfolio, after receiving the prize on behalf of Hydro during the Powel Days in Trondheim, Norway, on November 9-10.

"The award also shows our strong focus on value-capturing within power markets in the Nordics and mainland Europe, which are undergoing a substantial transformation and opens up new possibilities for both hydropower producers and large-scale consumers," he added.

Hydro has a long-standing partnership with Save the Children, and the Portfolio unit has decided to donate the NOK 15,000 that comes with the Powel Innovation Award to the children's rights organization.