Aggreko had expected contracts for power supply to be awarded 18 months ago but as the bidding process dragged on and one contract was split into five it became less keen.
It would also have to fly rather than ship most of the temporary generators to Rio, thus thinning profit margins further.
Barclays analyst Paul Checketts said the Rio contracts were always likely to be far smaller than London’s £55 million, adding: “Aggreko has an impeccable record but the lesson from G4S at the London Olympics is still fresh.”
