Interim report for the period 1 January – 30 June, 2021
Baseload Capital Sweden AB (publ) today releases the results for the period 1 January – 30 June 2021
During the second quarter the focus has been on execution and business development in all of our active markets.
- Profit/loss for the period was SEK -34.1 million, with revaluation of projects and loans to subsidiaries accounting for SEK -17.2 million, of which SEK -7.5 million consists of exchange rate differences as a result of a stronger Swedish krona.
- In the US, the project company is still waiting for permission from the authorities to release geothermal water from the Wendel plant in a nearby stream, but the forecast is that the project can still be completed before the end of the year.
- In Japan work is ongoing on the Sansui site which is expected to be commissioned before the end of the year. The project is the first part of the larger Waita 2 project that Baseload Power Japan and Furusato will develop together.
- In Taiwan the exploration well at Westlake is being finalized. Flow tests have been conducted during the summer, but initial tests show less flow than expected.
- In Iceland Baseload Power Iceland has been established. After the quarter the company has acquired Fludaorka and Reykholtsorka power plants including the expansion rights from Varmaorka. Pre-feasibility analysis is ongoing to set drill targets for each site.
The information was submitted for publication at 07:30 CET on 27 August 2021.
For more information, please contact:
Alexander Helling CEO of Baseload Capital