Orrön Energy, an independent, publicly listed renewable energy company within the Lundin Group of Companies, has cmpleted the sale of an additional 91 MW solar energy project in Germany, for a total consideration of up to MEUR 5.6, of which MEUR 2.4 was paid at completion. The Company has also secured municipal approval for an additional battery project in Germany, and initiated a process to explore divestment options for 1.8 GW of solar energy projects in the UK.
German project sale
Orrön Energy has sold an additional 91 MW solar energy project (Agri-PV) located in eastern Germany, with a co-located battery option, to Gülermak Renewables Ltd. The project is at the ready-to-permit stage, and Orrön Energy will continue to develop the project until the ready-to-build stage, which is expected to be reached no later than 2027. The total consideration, including reimbursement of development expenditure, amounts to up to MEUR 5.6, equivalent to TEUR 62 per MW. MEUR 2.4 was paid at completion, and the remaining consideration is subject to the fulfilment of development milestones up to the ready-to-build stage.
With this latest transaction the Company has, since the summer of 2025, entered into agreements to sell 400 MW of German solar energy projects, for a total consideration of up to MEUR 23. Out of this, MEUR 17 remains outstanding as contingent proceeds, subject to the achievement of development milestones.
German platform
The Company continues to make progress on its 6 GW greenfield platform in Germany. An additional 500 MW battery project has obtained municipal approval, bringing the total battery portfolio with municipal approvals to 1.4 GW. In addition, the Company has around 1 GW of solar energy projects with land reserved and grid available, which is being advanced towards ready-to-permit.
UK sales process
In the UK, the Company has started exploring divestment options for 1.8 GW of solar energy projects. Following Gate 2 grid confirmation from the national system operator, the projects have reached the ready-to-permit stage, with both land and grid secured. While divestment options are being explored, the Company may need to await the issuance of formal grid connection details, which is expected before early 2027.
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