LYSAKER, Norway, July 16, 2024 /PRNewswire/ — Aker Horizons ASA (OSE: AKH), a developer of green energy and industry, today announced results for the second quarter 2024. Aker Horizons’ net capital employed stood at NOK 7.1 billion, an increase of NOK 1.9 billion from the first quarter, mainly driven by a gain from the Aker Carbon Capture-SLB transaction. The company reported a cash position of NOK 3.1 billion and an undrawn credit facility of EUR 500 million, giving available liquidity of NOK 8.8 billion. Second quarter main developments: Aker Carbon Capture ASA (ACC ASA) completed the transaction to combine its carbon capture business with SLB: ACC ASA received NOK 4.1 billion in cash consideration, increasing its Q2 cash position to NOK 4.5 billion ACC ASA booked an accounting gain of NOK 4.9 billion The combination and integration of ACCH and SLB’s carbon capture business progressed according to plan Mainstream Renewable Power (Mainstream) delivered on its strategy in Australia and Sweden: The company was awarded a 2.5 GW offshore wind license in the Gippsland region of Victoria and a 500 MW onshore wind permit in New South Wales, in Australia In Sweden, the 2.5 GW Mareld floating offshore wind development received a positive recommendation for government approval The Andes Renovables platform in Chile maintained positive commercial margins in Q2 and recognized additional EUR 20m in revenues following publication of the first Tariff Stabilization Law decree Aker Horizons Asset Development (AAD) made progress on key projects and continued to explore data center opportunities for sites in
https://www.benzinga.com/pressreleases/24/07/n39785786/aker-horizons-asa-second-quarter-results-2024
