Brief: Orron Energy Reduces Guidance For Legal Costs Due Sudan Legal Case

Orron Energy AB

08/08/2024 06:38

Aug 8 (Reuters) - Orron Energy AB  ORRON.ST :
    * REVENUES WERE LOWER THAN EXPECTED DUE TO LOW ELECTRICITY
PRICES
DURING QUARTER
    * COMPANY HAS REDUCED ITS GUIDANCE FOR LEGAL COSTS  RELATED
TO THE
DEFENCE OF THE COMPANY AND ITS FORMER REPRESENTATIVES IN THE
SUDAN LEGAL CASE FROM MEUR 8 TO MEUR 7
    * WE NOW EXPECT TO DELIVER BETWEEN 900 AND 1,000 GWH OF
POWER
GENERATION IN 2024 DEPENDING ON WIND SPEEDS DURING SECOND HALF
OF 2024
    * WE ARE GETTING CLOSER TO HAVING OUR FIRST LARGE-SCALE
PROJECTS
REACH READY-TO-PERMIT MILESTONE
    * LOOKING AT RENEWABLES MARKET, WE ARE SEEING AN IMPROVED
ACQUISITION LANDSCAPE WHERE SELLERS' AND BUYERS' EXPECTATIONS
ARE STARTING TO ALIGN
    * I BELIEVE THAT ELECTRICITY PRICES WILL MOVE HIGHER THAN
WHAT WE
HAVE SEEN SO FAR THIS YEAR - CEO
    * INVESTMENTS IN NEW POWER GENERATION CAPACITY WILL START TO
DECLINE AND WE WILL FURTHER DELAY ENERGY TRANSITION - CEO

Source text for Eikon:  ID:nGNEbr14P3 
Further company coverage:  ORRON.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))