By Dominic Chopping
Aker Horizons AS, an investor in renewable energy and other emission reduction technologies, said on Friday its net asset value had risen to 16.98 billion Norwegian kroner ($1.81 billion) at the end of the first quarter, compared to NOK 16.9 billion at the end of the fourth quarter of 2021.
“We are seeing more and more investment opportunities against a backdrop of the need to accelerate the energy transition and strengthen energy security,” Chief Executive Kristian Rokke said.
“The transactions and partnerships announced this quarter will strengthen our ability to create and deliver large-scale decarbonization projects and develop significant global renewable energy this decade,” he said.
The company posted a pre-tax loss of NOK 1.25 billion in the first quarter on sales of NOK 44 million.
Aker Horizons holds stakes in Aker Carbon Capture ASA, Aker Clean Hydrogen AS, Aker Offshore Wind AS and Mainstream Renewable Power, among others. It targets NOK 100 billion in green investments by 2025, with 10 gigawatts of renewable energy capacity.
The company is majority-owned by Aker ASA and began listing on the Oslo Stock Exchange last year.
Write to Dominic Chopping at [email protected]