Brief: Lundin Energy's Renewables Business Reduces Guidance

Orron Energy AB

28/06/2022 06:33

June 28 (Reuters) - Lundin Energy AB  LUNE.ST :
    * SAID ON MONDAY, LUNDIN ENERGY ANNOUNCES UPDATE TO GUIDANCE
FOR
ITS RENEWABLES BUSINESS
    * CAPITAL EXPENDITURE GUIDANCE FOR SECOND HALF OF 2022 IS
UPDATED
TO ABOUT $10 MLN FROM $20 MLN AS PREVIOUSLY ANNOUNCED
    * THIS IS DUE TO PHASING OF PROJECT ACTIVITIES AT KARSKRUV
WIND
FARM FROM Q3 TO Q2 OF 2022
    * TOTAL FUTURE CAPITAL COSTS FOR KARSKRUV PROJECT ARE NOW
ESTIMATED AT AROUND $90 MLN, COMPARED TO $100 MLN AS PREVIOUSLY
ANNOUNCED
    * LUNDIN ENERGY (UNDER NAME CHANGE TO ORRÖN ENERGY FROM JULY
1)
CONFIRMS ITS CASH POSITION AT 1 JULY 2022 WILL BE $130 MLN, AS
PREVIOUSLY ANNOUNCED

Source text for Eikon:  ID:nGNE7mTWhh 
Further company coverage:  LUNE.ST 

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