Orrön Energy - Capitalising on renewable ambitions

Orrön Energy's capital markets day reinforced its operational achievements and its strong growth pipeline. Since July 2022 Orrön has continued to deliver on its growth ambitions, by increasing its production capacity fourfold to 400MW. It also has a 40GW pipeline of organic greenfield development projects across five countries, positioning Orrön to capitalise from growing renewable targets and regulatory support. It has a strong balance sheet with €92m net debt at year-end 2023 and a revolving credit facility of €190m (€78m undrawn Q423). This is supported by forecasted long-term cash flows, with management guiding annual revenues of €35-75m and EBITDA of €10-50m at an achieved price of €30-70/MWh, having achieved an average price of €47/MWh in FY23.

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