Energeia updates on project development, future plans, and capital raise

Energeia AS has released its investor presentation, providing an update on project development and significant upcoming milestones. The company is currently engaged in an ongoing guaranteed rights issue, with the subscription period closing on September 25, securing working capital for at least the next year. Energeia noted a steady cash flow from its existing business in the Netherlands in H1 2025, with no significant changes anticipated for current operations.

The company's Seval Skog project received its NVE concession in Q2 2025, and a Final Investment Decision (FID) is expected within 2-3 months. Energeia anticipates the start of construction for Seval Skog in H2 2025, with operations commencing in 2027. Preliminary calculations for Seval Skog indicate an expected Equity IRR of 7-8%, a payback time of 17-18 years, and an average dividend yield of 10-11%. The project has secured competitive offers from suppliers and contractors, and financing dialogues are underway.

Energeia is also pursuing additional concessions and highlighted its extensive project pipeline, including Store Nøkleberg, Gunnhus, and Mæhlum, all with expected grid connections by 2028. The company’s external capital requirements for the next 12 months are estimated at NOK 20-25 million (excluding project construction), which is fully guaranteed.