MADRID, Spain, July 3, 2007 (PRIME NEWSWIRE) -- Telvent (Nasdaq:TLVT), the IT company for a sustainable and secure world, announced today the signing of a contract with one of Panama's main electricity companies, Elektra Noreste S.A. Telvent will upgrade Elektra Noreste's electricity management systems which control distribution lines that supply electricity to more than 300,000 customers in the eastern half of Panama. The contract is valued at more than two million euro.
This project is included in the strategic initiatives that Elektra Noreste is undertaking to upgrade and enhance its services and to ensure more secure, reliable and efficient operation of its electricity distribution grid. Telvent will implement leading-edge systems for data management and control (SCADA), energy distribution operations planning and optimization (DMS) and electric incident on the grid management (ArcFM/Responder). The systems will shorten outage response times and enhance the service quality provided to Elektra's customers.
According to Manuel Sanchez, Telvent's Chairman and Chief Executive Officer, "Our technology will help Elektra to successfully overcome the distribution difficulties and challenges to be faced in relation to the country's energy supply grid. We also recently signed a similar contract in Venezuela to upgrade the technological infrastructure of that country's electric sector. Together, these contracts further consolidate our position as the leading provider of robust control and realtime information management systems for electrical distributors in Latin America."
Telvent has had permanent offices in Latin America since 1990. Important projects it has executed in the region include the management system for the distribution operation centers for Light, a Brazilian power company; diverse control systems for the Enersis Group in Peru and Chile; and the Federal Electricity Commission in Mexico.
About Telvent
Telvent (Nasdaq:TLVT), the IT company for a sustainable and secure world, specializes in high value-added products, services and integrated solutions for the Energy, Transportation, Environment and Public Administration industry segments, as well as Global IT Services. Its innovative technology and client-proven expertise enable the efficient and secure real-time management of operational and business processes for industry-leading companies worldwide. (www.telvent.com)
The Telvent GIT S.A. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3116