Aker Horizons ASA: Navigating the Green Energy Frontier
May 9, 2025, 11:35 am
Aker Horizons ASA, a beacon in the green energy sector, recently unveiled its first-quarter results for 2025. The numbers tell a story of resilience and adaptation in a rapidly changing landscape. With a net capital employed of NOK 4.3 billion, the company experienced a dip of NOK 1.7 billion from the previous quarter. This decline primarily stems from dividend distributions and portfolio performance. The financial tides are shifting, but Aker Horizons remains steadfast.
The company reported a cash position of NOK 4.1 billion, alongside an undrawn credit facility of EUR 500 million. However, this credit line has expired and will not be renewed. Aker Horizons is navigating through a sea of challenges, but it is also charting a course toward new opportunities.
Aker Carbon Capture ASA (ACC), a key player in Aker Horizons' portfolio, paid out the first portion of a NOK 3.5 billion dividend to shareholders in Q1. This included NOK 1.26 billion received in March and NOK 0.26 billion in May. Such dividends are like lifebuoys, providing essential support during turbulent times. ACC also secured an earn-out of NOK 71 million from SLB related to the Hafslund Celsio contract award, showcasing its ability to generate revenue even in a competitive market.
Meanwhile, SLB Capturi is buzzing with activity, with several tenders in the pipeline. This indicates a healthy appetite for innovation and collaboration in the sector. Aker Horizons is not just surviving; it is thriving in the face of adversity.
The refinancing of Mainstream Renewable Power (MRP) marks another significant development. This strategic move secures funding for growth in core markets like South Africa and Asia Pacific. Three projects, totaling 350 MW, are advancing toward financial closure within the next 18 months in South Africa. This is a testament to Aker Horizons' commitment to expanding its footprint in renewable energy.
In Colombia, Aker Horizons sold a portfolio of projects totaling 675 MW to local energy company Celsia. This sale is a strategic pivot, allowing the company to focus on its core competencies while still contributing to the local energy landscape. Morten Henriksen's appointment as the new CEO of MRP signals a fresh vision. The relocation of corporate headquarters from Dublin to Oslo further emphasizes Aker Horizons' commitment to its Norwegian roots.
The company is also exploring the potential for data centers in northern Norway, in collaboration with Nordkraft. This venture could leverage the ready-to-build Kvandal site in Narvik. The data center business is a burgeoning field, and Aker Horizons is positioning itself to capitalize on this trend. However, the Narvik Green Ammonia project is currently in limbo, awaiting feedback on an application for additional grid capacity. Clarity on this front is crucial for the project's advancement.
In the realm of technology, SuperNode has made strides by completing initial full-scale testing of its superconducting technology. A prototype was successfully tested in the UK, with a demo planned for mid-2025. This innovation could redefine energy transmission, making it more efficient and sustainable.
Aker Horizons' net capital employed reflects a portfolio rich in unlisted assets. This includes NOK 898 million in ACC, NOK 2.06 billion in Mainstream, NOK 573 million in AAD, NOK 195 million in SuperNode, and NOK 568 million in other assets. The diversity of investments is like a well-tended garden, each plant contributing to the overall health of the ecosystem.
The company’s commitment to sustainability is unwavering. Aker Horizons aims to accelerate the transition to Net Zero, focusing on renewable energy, carbon capture, and sustainable industrial assets. As part of the Aker group, it leverages industrial, technological, and capital market expertise to drive global decarbonization efforts.
The first-quarter presentation, led by CEO Lars P. Sørvaag Sperre and CFO Kristoffer Dahlberg, is a platform for transparency. It invites stakeholders to engage and ask questions, fostering a culture of openness. The webcast is accessible to all, reinforcing Aker Horizons' commitment to communication.
In conclusion, Aker Horizons ASA is navigating the complexities of the green energy landscape with agility and foresight. The first-quarter results reflect both challenges and opportunities. As the company continues to innovate and expand, it remains a key player in the global push for sustainability. The journey is ongoing, but Aker Horizons is well-equipped to lead the charge toward a greener future. The horizon is bright, and the potential is limitless.
The company reported a cash position of NOK 4.1 billion, alongside an undrawn credit facility of EUR 500 million. However, this credit line has expired and will not be renewed. Aker Horizons is navigating through a sea of challenges, but it is also charting a course toward new opportunities.
Aker Carbon Capture ASA (ACC), a key player in Aker Horizons' portfolio, paid out the first portion of a NOK 3.5 billion dividend to shareholders in Q1. This included NOK 1.26 billion received in March and NOK 0.26 billion in May. Such dividends are like lifebuoys, providing essential support during turbulent times. ACC also secured an earn-out of NOK 71 million from SLB related to the Hafslund Celsio contract award, showcasing its ability to generate revenue even in a competitive market.
Meanwhile, SLB Capturi is buzzing with activity, with several tenders in the pipeline. This indicates a healthy appetite for innovation and collaboration in the sector. Aker Horizons is not just surviving; it is thriving in the face of adversity.
The refinancing of Mainstream Renewable Power (MRP) marks another significant development. This strategic move secures funding for growth in core markets like South Africa and Asia Pacific. Three projects, totaling 350 MW, are advancing toward financial closure within the next 18 months in South Africa. This is a testament to Aker Horizons' commitment to expanding its footprint in renewable energy.
In Colombia, Aker Horizons sold a portfolio of projects totaling 675 MW to local energy company Celsia. This sale is a strategic pivot, allowing the company to focus on its core competencies while still contributing to the local energy landscape. Morten Henriksen's appointment as the new CEO of MRP signals a fresh vision. The relocation of corporate headquarters from Dublin to Oslo further emphasizes Aker Horizons' commitment to its Norwegian roots.
The company is also exploring the potential for data centers in northern Norway, in collaboration with Nordkraft. This venture could leverage the ready-to-build Kvandal site in Narvik. The data center business is a burgeoning field, and Aker Horizons is positioning itself to capitalize on this trend. However, the Narvik Green Ammonia project is currently in limbo, awaiting feedback on an application for additional grid capacity. Clarity on this front is crucial for the project's advancement.
In the realm of technology, SuperNode has made strides by completing initial full-scale testing of its superconducting technology. A prototype was successfully tested in the UK, with a demo planned for mid-2025. This innovation could redefine energy transmission, making it more efficient and sustainable.
Aker Horizons' net capital employed reflects a portfolio rich in unlisted assets. This includes NOK 898 million in ACC, NOK 2.06 billion in Mainstream, NOK 573 million in AAD, NOK 195 million in SuperNode, and NOK 568 million in other assets. The diversity of investments is like a well-tended garden, each plant contributing to the overall health of the ecosystem.
The company’s commitment to sustainability is unwavering. Aker Horizons aims to accelerate the transition to Net Zero, focusing on renewable energy, carbon capture, and sustainable industrial assets. As part of the Aker group, it leverages industrial, technological, and capital market expertise to drive global decarbonization efforts.
The first-quarter presentation, led by CEO Lars P. Sørvaag Sperre and CFO Kristoffer Dahlberg, is a platform for transparency. It invites stakeholders to engage and ask questions, fostering a culture of openness. The webcast is accessible to all, reinforcing Aker Horizons' commitment to communication.
In conclusion, Aker Horizons ASA is navigating the complexities of the green energy landscape with agility and foresight. The first-quarter results reflect both challenges and opportunities. As the company continues to innovate and expand, it remains a key player in the global push for sustainability. The journey is ongoing, but Aker Horizons is well-equipped to lead the charge toward a greener future. The horizon is bright, and the potential is limitless.