Aker Horizons, a prominent investor in renewable energy and emissions-reducing technologies, has announced a decline in its net asset value. At the end of the third quarter, the company’s net asset value stood at 10.24 billion Norwegian kroner ($915.5 million), down from NOK11.1 billion in the previous quarter.
In terms of liquidity, Aker Horizons reported a cash position of NOK3.47 billion and an undrawn credit facility of 500 million euros ($528.5 million). This provides the company with available liquidity of NOK9.1 billion.
Aker Horizons is predominantly owned by Aker and holds stakes in various entities, including Aker Carbon Capture, Aker Horizons’ Asset Development, and Mainstream Renewable Power.
Mainstream Renewable Power, which is actively involved in wind and solar energy projects in Chile, is undergoing a restructuring process that is progressing well, according to Aker Horizons. Additionally, the company is conducting an organizational review aimed at achieving over EUR45 million in cost reductions.
Despite the challenges faced by the capital markets and the green industry during this quarter, Aker Horizons remains optimistic about the future. “Mainstream’s restructuring in Chile is substantially complete, and the company is now positioning itself for the catch-up expected for renewables deployment in the years to come,” said CEO Kristian Rokke.
