Orrön Energy expands into the UK and secures grid connections for early-stage greenfield development

Rhea-AI Summary

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.

Positive

• Secured grid connections for renewable energy projects in the UK.
• Expansion into the UK adds solar and battery storage opportunities.
• Experienced development team leading UK activities.

Negative

• None.

Orrön Energy AB (“Orrön Energy” or the “Company”) is pleased to announce an expansion into the UK, with secured grid connections for early-stage renewable energy projects.

Orrön Energy announced earlier this year that it had expanded its geographical footprint to include France and Germany and is now announcing the addition of early-stage project origination and development in the UK to its European portfolio. The Company has secured grid connections in the UK which enables the initiation of early-stage solar and battery storage projects, creating a long-term growth pipeline to complement the near-term growth opportunities in its Nordic portfolio. The UK expansion is led by an experienced development team who are also leading the Company’s activities in France and Germany.

Daniel Fitzgerald, CEO comments:  
“We see fantastic opportunities to create a large-scale and long-term growth pipeline through early-stage project origination and development in the UK. By securing a portfolio of grid connections, we are taking our first steps towards developing new renewable energy projects, and we will seek to develop this portfolio further together with an experienced development team in the UK. The UK market entry is the latest in a series of strategic moves for Orrön Energy, further establishing the Company’s presence across the entire renewable energy lifecycle.” 

For further information, please contact: 

Robert Eriksson 
Director Corporate Affairs and Investor Relations 
Tel: +46 701 11 26 15 
robert.eriksson@orron.com  

Jenny Sandström  
Communications Lead 
Tel: +41 79 431 63 68 
jenny.sandstrom@orron.com 

Orrön Energy is an independent, publicly listed (Nasdaq Stockholm: “ORRON”) renewable energy company within the Lundin Group of Companies. Orrön Energy’s core portfolio consists of high quality, cash flow generating assets in the Nordics, coupled with greenfield growth opportunities in the Nordics and Europe. With significant financial capacity to fund further growth and acquisitions, and backed by a major shareholder, management and Board with a proven track record of investing into, leading and growing highly successful businesses, Orrön Energy is in a unique position to create shareholder value through the energy transition. 

Forward-looking statements  
Statements in this press release relating to any future status or circumstances, including statements regarding future performance, growth and other trend projections, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as “anticipate”, “believe”, “expect”, “intend”, “plan”, “seek”, “will”, “would” or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that could occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to several factors, many of which are outside the company’s control. Any forward-looking statements in this press release speak only as of the date on which the statements are made and the company has no obligation (and undertakes no obligation) to update or revise any of them, whether as a result of new information, future events or otherwise. 

 

Attachment

• Press Release - Orrön Energy - V5 - UK Expansion - 28032023eng

FAQ

What is Orrön Energy's recent expansion announcement?

Orrön Energy announced its expansion into the UK, focusing on early-stage renewable energy projects, which includes securing grid connections for solar and battery storage.

When did Orrön Energy expand its operations to the UK?

Orrön Energy announced its UK expansion earlier this year, following expansions into France and Germany.

What opportunities does Orrön Energy see in the UK market?

Orrön Energy sees opportunities for creating a large-scale and long-term growth pipeline through early-stage project origination and development in the UK.

How does Orrön Energy plan to develop its UK projects?

The UK expansion will be led by an experienced development team, aiming to develop the secured grid connections into renewable energy projects.

What are the implications of Orrön Energy's expansion for investors?

The expansion into the UK represents a significant strategic move, potentially enhancing Orrön Energy's growth prospects and shareholder value.