Fossil Energy – New Name
Lundin Energy is changing its name to Orrön Energy and is now a pure play renewables business.
From today, Orrön Energy will be a pure play renewables business, with a strong portfolio of high quality and low-cost assets in the Nordics and becomes the new renewables growth company within the Lundin Group of Companies.
With cash flowing assets, no debt and financial capacity of up to MUSD 180 for acquisitions, Orrön Energy is in a unique position to take advantage of opportunities in the energy transition aiming to create long term shareholder value.
Daniel Fitzgerald, CEO of Orrön Energy comments: “We see many opportunities in the energy transition, and Orrön Energy is uniquely positioned to take advantage of these with a strong portfolio of cash generating renewables assets, no debt and with Board, management and the major shareholders fully aligned to grow the business. I would like to thank all shareholders who have supported Lundin Energy throughout the years and welcome you as shareholders in this new and exciting renewables company, aiming to create value through the energy transition.”