Bifogade filer
Creturner has signed LOI to sell solar field - reduces debt burden significantly - signs PPA agreement
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Nordic SME Sweden |
| Sektor | Finans |
| Industri | Övriga finansiella tjänster |
Creturner has signed an LOI with a well-known Swedish player to sell its solar parks. This means that the net debt will be reduced by about SEK 20 million after the transactions are completed. At the same time, Creturner will enter into a PPA agreement to purchase electricity at a favourable price for its digital operations.
Creturner's digital business is currently focused on High Performance Computing (HPC), the need for electrical power has greatly decreased while the solar fields represent an attractive asset. By selling the solar fields and at the same time buying a sufficiently large share of power in the future, capital is released, raw material costs are locked in and the debt burden is significantly reduced. The transaction is deemed to have a minor positive impact on earnings. PPA, Power Purchase Agreement, is a form of contractual delivery at a fixed price that significantly facilitates planning. The letter of intent has been signed, contractual documents will be finalised in the coming weeks and the payment will be made at the same time.
"This is good for Creturner's business, solvency, liquidity and allows us to fully focus on value creation. It is the best possible transaction where we can fully realise an underutilised asset and at the same time retain access to the share that affects us. I am very pleased with this agreement" says Creturner Group's Chairman Daniel Moström.
About PPAs, see more at this link www.köpsolel.se . A Power Purchase Agreement (PPA) is a contract that enables companies and organisations to directly purchase clean and renewable energy from power producers, such as wind or solar power plants. By signing a PPA, you ensure a stable electricity supply at predictable prices over a longer period of time, giving you more control over your energy budget while contributing to a reduced environmental impact.
Contact details
For further information please contact:
Joakim Erlandson, CEO of Creturner Group AB (publ) on +46-70-8555255
or via e-mail joakim.erlandson@creturner.com.
Address: Taptogatan 6, 115 27 STOCKHOLM, Sweden
www.creturner.com
Creturner Group AB (publ) org: 559152-3013
About Creturner Group
Creturner Group AB is a group with two business areas within environmental technology.
The digital part is a technical computing business that is expanding to strengthen its long-term potential and create a presence in the rapidly growing market for computing capacity. The company has its own facilities in Sweden with its own energy production to reduce raw material costs and environmental impact.
The environmental technology part offers corporate customers an efficient and permanent method to carbon offset their operations. The method is based on CDR (Carbon Dioxide Removal), which involves converting residual biomass into the element carbon and depositing it to reduce the amount of CO2 in the atmosphere. Creturner's corporate customers can then purchase carbon offsets in the same way as traditional carbon offsets such as tree planting. Unlike tree planting, Creturner's method is immediate, permanent, and clearly measurable.