Lundin Energy becomes Orrön Energy

Source: press release, 1 July 2022

CEO of Orrön Energy, Daniel Fitzgerald
CEO of Orrön Energy, Daniel Fitzgerald (photo: Orrön Energy)

Lundin Energy AB has announced it is changing its name to Orrön Energy AB and is now a pure play renewables business.

From 1 July, 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 USD 180 million 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.

Orrön Energy is initially trading on the Nasdaq Stockholm under Lundin Energy’s ticker “LUNE” until registration of the name change to Orrön Energy (new ticker: ORRON), which is expected to occur on or around 1 July 2022.

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.”

Visit Orrön Energy’s website for more information around the business strategy, renewables assets and guidance for the second half of 2022: www.orron.com.