Orrön Energy AB ("Orrön Energy" or "the Company") is pleased to announce that it has completed the sale of an additional 91 MW solar energy project in Germany, for a total consideration of up to MEUR 5.6, of which MEUR 2.4 was paid at completion. The Company has also secured municipal approval for an additional battery project in Germany, and initiated a process to explore divestment options for 1.8 GW of solar energy projects in the UK.
German project sale
Orrön Energy has sold an additional 91 MW solar energy project (Agri-PV) located in eastern Germany, with a co-located battery option, to Gülermak Renewables Ltd. The project is at the ready-to-permit stage, and Orrön Energy will continue to develop the project until the ready-to-build stage, which is expected to be reached no later than 2027. The total consideration, including reimbursement of development expenditure, amounts to up to MEUR 5.6, equivalent to TEUR 62 per MW. MEUR 2.4 was paid at completion, and the remaining consideration is subject to the fulfilment of development milestones up to the ready-to-build stage.
With this latest transaction the Company has, since the summer of 2025, entered into agreements to sell 400 MW of German solar energy projects, for a total consideration of up to MEUR 23. Out of this, MEUR 17 remains outstanding as contingent proceeds, subject to the achievement of development milestones.
German platform
The Company continues to make progress on its 6 GW greenfield platform in Germany. An additional 500 MW battery project has obtained municipal approval, bringing the total battery portfolio with municipal approvals to 1.4 GW. In addition, the Company has around 1 GW of solar energy projects with land reserved and grid available, which is being advanced towards ready-to-permit.
UK sales process
In the UK, the Company has started exploring divestment options for 1.8 GW of solar energy projects. Following Gate 2 grid confirmation from the national system operator, the projects have reached the ready-to-permit stage, with both land and grid secured. While divestment options are being explored, the Company may need to await the issuance of formal grid connection details, which is expected before early 2027.
For further information, please contact:
Robert Eriksson
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, the UK, Germany, and France. 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.
