Raft International Plc, is pleased to announce that Constellation Energy, a Fortune 500 company and one of the United States' largest wholesale power sellers, has licensed raft credit, the Company's credit risk management software.
This is the first license to be granted under the partner agreement with Sungard Energy Systems and represents a significant contract win for Raft in terms of license fees, consultancy and ongoing maintenance fees.
Constellation Energy will initially implement raft credit for their Wholesale division, which sells energy capacity and related products under short-term and long-term contracts. The implementation will provide the division with a comprehensive credit risk management system that includes exposure management, workflow, collateral management and web reporting functionality.
David Priestley, Chairman and CEO at Raft International said, "We are very pleased that Constellation Energy has chosen raft credit to enhance its existing credit risk management infrastructure and we look forward to working with them to support their strategy in this area."