SUBSCRIBE
PROFILE

Orrön Energy’s strategic expansion into renewables

Orrön Energy expands its renewable energy portfolio, marking a record quarter in energy production and strategic sales.

Share:

Croissance Stratégique Orrön Energy Renouvelable

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90$/month

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99$/year

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Sign up for free to unlock this article

Orrön Energy recorded an exceptional first quarter in 2024, achieving record energy production of 274 GWh. This figure marks the company’s highest quarterly production ever. All reinforced by excellent operability and high electricity prices. This performance is particularly noteworthy after the sale of 50% of Leikanger for 53 million euros in April. The sale also illustrates the value of the company’s assets and its strategy of recycling capital to more profitable projects.

Expansion and strategic acquisitions

Earlier this year, Orrön Energy acquired a portfolio of wind and battery projects in Finland, securing land for 180 MW. The permitting process for these projects was launched in the first quarter. The company has signed binding land agreements for the first 500 MW of solar and battery projects in Germany. It has also advanced pre-permit work in Germany and the UK. These initiatives underline Orrön Energy’s commitment to sustainable development and to increasing its renewable generation capacity.

Financial performance and economic outlook

Cash flow from operating activities amounted to 3 million euros in the first three months of the year. The electricity price realized during the quarter was 49 euros per MWh. This resulted in a proportional EBITDA of 5.1 million euros. Proportional net debt was 91.2 million euros. The company has also increased its available liquidity through a revolving credit facility raised to 190 million euros.

Statement by Daniel Fitzgerald, CEO of Orrön Energy AB

CEO Daniel Fitzgerald praised the company’s performance and the importance of the Leikanger sale. He stated that this sale proves the value and attractiveness of the company’s assets. This strategic move strengthened the balance sheet. It has also increased the company’s financial strength, fostering growth and creating long-term value for shareholders.
The first quarter of 2024 brought major developments for Orrön Energy. This illustrates its success in the dynamic renewable energies sector. Thanks to precise strategies for the development of its portfolio, the company is ideally placed to capitalize on future opportunities and continue to enrich its shareholders.

  • Popular on energynews.pro
TVA and ENTRA1 seal historic agreement for 6 GW of SMR reactors in the United States
TexPower appoints Bader Almonawer as president to drive its industrial expansion
Dangote refinery delivers first gasoline cargo to the United States
TotalEnergies secures 1,000 km² offshore exploration permit in Congo
Tanzania bets on compressed natural gas to cut oil imports
Dr Sultan Al Jaber wins ICIS CEO of the Year 2025 award for strategic performance
ADNOC Group CEO Dr Sultan Al Jaber has been named 2025 CEO of the Year by his global chemical industry peers, recognising his role in the company’s industrial expansion and international investments.
OX2 appoints Matthias Taft as new CEO after Paul Stormoen’s departure
Swedish renewable energy developer OX2 has appointed Matthias Taft as its new chief executive officer, succeeding Paul Stormoen, who led the company since 2011 and will now join the board of directors.
Global renewable energy investments reach $386 billion in first half
Driven by distributed solar and offshore wind, renewable energy investments rose 10% year-on-year despite falling financing for large-scale projects.
Australian Oilseeds granted a reprieve from Nasdaq to meet equity threshold
Australian Oilseeds Holdings was granted a deadline extension until 30 September to comply with the Nasdaq’s equity requirements, avoiding immediate delisting from the exchange.
Fermi America raises $350mn for its energy project dedicated to artificial intelligence
Fermi America has closed $350mn in financing led by Macquarie to accelerate the development of its HyperGrid™ energy campus, focused on artificial intelligence and high-performance data applications.
Soluna crosses one gigawatt milestone with two new data centres in Texas
Soluna Holdings launched two energy projects in Texas, reaching one gigawatt of cumulative capacity for its data centres, marking a new stage in the development of computing infrastructure powered by renewable energy.
Martijn Hagens to lead Eneco from March 2026
Eneco’s Supervisory Board has appointed Martijn Hagens as the next Chief Executive Officer. He will succeed interim CEO Kees Jan Rameau, effective from 1 March 2026.
Data centres in Japan to drive 60% of electricity demand growth by 2034
With $28 billion in planned investments, hyperscaler expansion in Japan reshapes grid planning amid rising tensions between digital growth and infrastructure capacity.
Ørsted suffers historic drop and closes at around 26 USD after offshore project suspension
The suspension of the Revolution Wind farm triggers a sharp decline in Ørsted’s stock, now trading at around 26 USD, increasing the financial stakes for the group amid a capital increase.
Hydro-Québec increases net income and intensifies investments
Hydro-Québec reports net income of C$2.3 billion in the first half of 2025, up more than 20%, driven by a harsh winter and an effective arbitrage strategy on external markets.
Air Liquide acquires South Korean DIG Airgas for €2.85 billion
French group Air Liquide strengthens its presence in Asia with the acquisition of South Korean DIG Airgas, a key player in industrial gases, in a strategic €2.85 billion deal.
France: the government asks EDF to reassess the sale of its subsidiary Exaion
The Ministry of Economy has asked EDF to reconsider the majority sale agreement of its technology subsidiary Exaion to the American group Mara, amid concerns related to technological sovereignty.
IBM and NASA launch AI model to anticipate solar storm risks
IBM and NASA unveil an open-source model trained on high-resolution solar data to improve forecasting of solar phenomena that disrupt terrestrial and space-based technological infrastructures.
LPSC approves 3 new power plants to support Meta’s data center
The Louisiana regulatory commission authorizes Entergy to launch major energy projects tied to Meta’s upcoming data center, with anticipated impacts across the regional power grid.
Westbridge Reduces Common Shares by Four to Attract Institutional Investors
Westbridge Renewable Energy will implement a share consolidation on August 22, reducing the number of outstanding shares by four to optimize its financial market strategy.
T1 Energy strengthens its U.S. solar strategy and reaffirms 2025 targets
T1 Energy secures a wafer supply contract, signs 437 MW in sales, and advances G2_Austin industrial deployment while maintaining EBITDA guidance despite second-quarter losses.
Masdar mobilizes USD 1.685 billion for energy projects through green bonds
Masdar has allocated the entirety of its 2023–2024 green bond issuances to solar, wind, and storage energy projects, while expanding its financial framework to include green hydrogen and batteries.
Energiekontor issues a €15 million green bond for its European projects
Energiekontor launches a €15 million corporate bond at 5.5% over eight years, intended to finance wind and solar projects in Germany, the United Kingdom, France, and Portugal.
United States: 2024 Capex and M&A Strengthen Producers’ Energy Advantage
The 2025 EY study on 40 groups shows capex driven by mega-deals, oil reserves at 34.7 billion bbl, gas at 182 Tcf, and pre-tax profits declining amid moderate prices.
Ampol’s Half-Year Profit Drops 23% but Exceeds Market Expectations
Australian fuel distributor Ampol reports a 23% drop in net profit, impacted by weak refining margins and operational disruptions, while surpassing market forecasts.

Log in to read this article

You'll also have access to a selection of our best content.