Magnora ASA (SVMRF) has released an update.
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Magnora ASA has reported a productive third quarter in 2024, achieving significant financial milestones such as receiving NOK 330 million for a 40% stake in Helios Nordic Energy, returning over NOK 1 billion in capital to shareholders since 2018, and generating net cash of approximately NOK 330 million from investment activities. The company also resumed its share buyback program and expanded its renewable energy portfolio with greenfield entries in Germany and Italy, as well as significant growth in South Africa. Looking forward, Magnora ASA has set an ambitious target for 2025, aiming for a 12.5 GW portfolio and sales of 600-725 MW.
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