#Green Energy #Norway #Aker Horizons #Fornebu #ACC

Aker Horizons ASA First Quarter 2025 Results

Aker Horizons ASA (OSE: AKH), a frontrunner in the green energy sector, recently disclosed its financial results for the first quarter of 2025. The company, headquartered in Fornebu, Norway, focuses on the development of green energy projects and industrial applications, playing a vital role in promoting the transition to sustainability on a global scale.

Financial Overview

In its Q1 report, Aker Horizons recorded a net capital employed of NOK 4.3 billion, representing a sizable decrease of NOK 1.7 billion from the previous quarter. This decline was largely attributed to the dividend payout from Aker Carbon Capture ASA (ACC) during the quarter and the performance of various portfolio companies. As of Q1 2025, the company reported a liquidity position comprising NOK 4.1 billion in cash alongside an unused credit facility amounting to EUR 500 million, which has since expired and will not be renewed.

Portfolio Developments

A significant highlight of Aker Horizons' quarterly performance was the substantial dividend receipt from ACC. The total dividend payment involved NOK 1.26 billion in March and an additional NOK 0.26 billion in May, contributing to the robust return for shareholders. ACC also achieved an earn-out of NOK 71 million from SLB related to its Hafslund Celsio contract award, while SLB Capturi showed remarkable activity with several tenders currently in progress.

Furthermore, Aker Horizons successfully completed the refinancing of Mainstream Renewable Power (MRP), thereby securing necessary funds for expansion initiatives in its primary markets of South Africa and the Asia-Pacific region. Three projects, aggregating 350 MW, are set to advance towards financial closure within the upcoming 18 months in South Africa, while MRP also facilitated the sale of a significant project portfolio in Colombia, totaling 675 MW, to Celsia, a local energy firm.

In governance changes, Morten Henriksen has been appointed as the new CEO of MRP, with corporate headquarters shifting from Dublin to Oslo, aligning with Aker Horizons' strategic vision.

Future Initiatives

Aker Horizons is keenly exploring the development of potential data centers in Northern Norway in collaboration with Nordkraft. This endeavor could capitalize on the Kvandal site in Narvik, which is ready for development. Additionally, the Narvik Green Ammonia project's advancement hinges on securing additional grid capacity, with progress on hold until inquiries about grid availability are resolved.

In terms of innovation, SuperNode has successfully completed the initial testing of its superconducting technology, achieving notable success with its full-scale superconducting system prototype in the UK. A demonstration showcasing a transmission distance of 30 meters is planned for mid-2025, further illustrating Aker Horizons' commitment to technological advancement within the green energy sector.

Conclusion

Aker Horizons' first-quarter results for 2025 underline its robust position in the green energy landscape. With ongoing projects and strategic shifts, the company is poised to continue its journey towards sustainability while generating substantial returns for its stakeholders. The combination of strong dividend payouts, innovative projects, and a committed leadership team points to a promising future for Aker Horizons as it adapts and thrives in an evolving energy market.

For more insights into Aker Horizons and its ongoing projects, the full Q1 2025 presentation and additional information can be found on their official website.