Lundin Energy Announces Update to the Guidance for its Renewables Business

Source: www.gulfoilandgas.com 6/27/2022, Location: Europe

Lundin Energy AB (“Lundin Energy”) announces an update to the guidance for its renewables business, expected to trade under the new name, Orrön Energy AB (“Orrön Energy”), from 1 July 2022.

Updated guidance on capital expenditure
Capital expenditure guidance for the second half of 2022 is updated to approximately MUSD 10 from MUSD 20 as previously announced, due to phasing of project activities at the Karskruv wind farm from the third quarter to the second quarter of 2022. Total future capital costs for the Karskruv project are now estimated at around MUSD 90, compared to MUSD 100 as previously announced. Orrön Energy confirms its cash position at 1 July 2022 will be 130 MUSD, as previously announced.


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