Welcome to our dedicated page for Lundin Energy Ab news (Ticker: LNEGY), a resource for investors and traders seeking the latest updates and insights on Lundin Energy Ab stock.
Orrön Energy AB (LNEGY) is a leading independent renewable energy company operating high-quality cash flow generating assets across Nordic markets and strategic European regions. This page provides investors with direct access to official press releases, financial updates, and operational developments from the renewable energy producer.
Our curated news collection enables stakeholders to track LNEGY's greenfield expansion projects, portfolio diversification efforts, and energy transition leadership. Users will find timely updates including earnings reports, partnership announcements, and operational milestones that demonstrate the company's disciplined approach to sustainable growth.
The resource features verified information on strategic acquisitions, asset performance data, and management insights – all essential for evaluating LNEGY's position in renewable energy markets. Content is organized chronologically with clear sourcing to support investment research and sector analysis.
Bookmark this page for streamlined access to Orrön Energy's latest corporate communications. Check regularly for updates on Nordic wind/hydro operations, European expansion initiatives, and financial performance metrics that underscore the company's cash flow stability.
Orrön Energy AB has released its report detailing payments made to governments in 2022. This comprehensive overview highlights the company's financial contributions and is available for download at www.orron.com. As an independent renewable energy company, Orrön Energy is part of the Lundin Group and focuses on cash-generating assets in the Nordics while pursuing growth opportunities in Europe. The company is well-positioned for future growth, backed by significant financial capacity and experienced management.
Orrön Energy AB has announced its Annual General Meeting (AGM) set for 4 May 2023, at Södra Teatern, Stockholm. Shareholders can vote in person, through a proxy, or by postal voting, with deadlines for registration and voting set for 27 April 2023. The agenda includes key items such as the election of board members, approval of financial statements, and a proposal for a long-term incentive plan (LTIP) involving 7 million share options for management. The meeting will also address the issuance of up to 7.35 million warrants to secure obligations under the LTIP, permitting the board to authorize new share issues up to 28.5 million shares, potentially leading to a 10% dilution.
Orrön Energy AB announces its expansion into the UK, securing grid connections for early-stage renewable energy projects. Following previous expansions to France and Germany, this initiative adds solar and battery storage projects to its European portfolio. The UK expansion aims to create a long-term growth pipeline, complementing the company's Nordic operations. Led by a knowledgeable development team, Orrön Energy's entry into the UK market marks a significant strategic move in its goal to strengthen its presence across the renewable energy lifecycle.
Orrön Energy achieved significant growth in annual power generation, increasing from 300 GWh to 800 GWh through strategic acquisitions in Sweden.
They report a projected power generation of 1,100 GWh starting in 2024 due to the Karskruv project, which is on schedule for completion by the end of 2023.
In Q4, cash flow from operating activities rose to MUSD 13.7, up from MUSD 5.4. Proportionate revenue reached MUSD 15.3 with an EBITDA of MUSD 9.7.
Orrön plans to expand its footprint in Europe, targeting projects in France and Germany while enhancing operations in the Nordics.
Orrön Energy AB will release its financial report for the fourth quarter and full year 2022 on February 15, 2023, at 07:30 CET. Following this, a Capital Markets Day presentation will occur at 14:00 CET, featuring CEO Daniel Fitzgerald and CFO Espen Hennie. The session will cover recent developments and future growth strategies, including a Q&A segment. The presentation will be accessible via this link.
Orrön Energy reported a robust Q3 2022, marking its first quarter as a pure play renewables company. Key highlights include:
- Cash flow from operating activities of MUSD 5.4 and net cash of MUSD 10.8.
- Proportionate power generation of 83 GWh at EUR 177 per MWh, leading to a proportionate EBITDA of MUSD 10.8.
- Estimated annual power generation increased to 700 GWh with projections rising to 1,100 GWh by 2024.
- Acquisition of Slitevind and other transactions added over 500 GWh of estimated annual power generation.
Orrön Energy AB has announced the formation of its Nomination Committee for the 2023 Annual General Meeting (AGM) scheduled for May 4, 2023, in Stockholm. The committee comprises members including Ian H. Lundin and Grace Reksten Skaugen. Key responsibilities include making recommendations on the election and remuneration of board members and auditors. Shareholders can propose motions to the committee until January 30, 2023. Orrön Energy is positioned for growth within the renewables sector, leveraging its asset portfolio in the Nordics.
Orrön Energy AB has completed acquisitions that add approximately 30 GWh of net annual production in Sweden's price area SE3. The transactions, worth 9 MUSD, increase Orrön's ownership to 67% in the 36 MW wind farm Näsudden Väst and 37% in the 27 MW wind farm Stugyl, both located in Gotland. Expected yearly net production is projected at 750 GWh in 2023 and over 1 TWh annually from 2024 with the full operation of the Karskruv project. CEO Daniel Fitzgerald emphasizes the strategic rationale behind these acquisitions.
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