OpenLink's solution provides forecasting, hedging, risk and contract management
Singapore – January 7, 2013 – OpenLink Financial LLC (OpenLink), the global leader in Transaction Lifecycle Management (TLM) software, has been selected by GMR Energy (Singapore) Pte Ltd to provide a commodity transaction management solution. GMR Energy (Singapore) Pte Ltd will use OpenLink's Endur solution for front office, enterprise-wide risk management, and reporting.
As part of good risk management practice, GMR Energy (Singapore) Pte Ltd needs to manage its fuel and currencies exposures when operating in the Singapore National Electricity Market. With the OpenLink solution, GMR Energy (Singapore) Pte Ltd will now be able to price and manage its hedges to fuel inputs, execute derivatives contracts, reduce operational risks from complex manual processes, create a foundation for further integration as its business expands, and provide enterprise-wide risk reporting across their operations.
Yu Tat Ming, CEO of GMR Energy (Singapore) Pte Ltd, said, "We want to partner with a firm who understands our pioneering approach to solving cutting edge, sophisticated challenges – OpenLink was the obvious choice. Our goals are aggressive, but we know that we have a trusted advisor in OpenLink."
Richard O'Keefe, Managing Director of OpenLink Asia Pacific region, commented, "GMR Energy (Singapore) Pte Ltd is committed to efficiency and clean energy. OpenLink is proud to support GMR Energy (Singapore)'s pioneering vision with flexible, robust technology solutions that are a crucial part of infrastructure for firms, such as GMR Energy (Singapore), in a highly competitive market in Singapore."
GMR Energy (Singapore) Pte Ltd is building Singapore's first greenfield electricity power generation plant by an international player since the liberalization of the Singapore Electricity Market. It is a highly valued investment by 2 international corporations – GMR Group, a global company headquartered in Bangalore with interests in Airports, Energy, Highways & Urban Infrastructure and, PETRONAS.
GMR Energy (Singapore) Pte Ltd's state-of-the-art 800 MW natural gas fired combined cycle power plant is expected to be completed and operational in 2013. With experienced field specialists specifically handpicked from the industry to provide superb service, GMR Energy (Singapore) Pte Ltd endeavours to be a leading integrated energy company that delivers high quality and reliable power at competitive prices to its customers.