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True, there will most likely be hard competition in Norway, but there might be smaller rewards such as 150-200MW sites for Utsira Nord area (floating). This is the area which Magnora will aim for as it seems. There is/has been a lot of discussion about how these auctions should take place, price or concept etc. So I think MOWs chances is decent if there is smaller sites available (smaller sites, less margins though?) and i belive MOW really got a name for them self after ScotWind, and ScotWind is kind of what they look at in Norway. Remember there was only three Norwegian companies who was awarded in Scotwind, one was MOW but not Equinor, not Aker offshore Wind among others. Regards to new investments from Magnora, i feel quite confident that next investment within battery storage in the UK might be getting closer. It's also exciting to see what will happen with Evolar in the coming months. They have applied for funding from EU Horizon (€15 mill i belive) which is to be decided this quarter. They gaining more and more interest in Sweden now, and recently won Buisness Sweden award for most promising Swedish company to scale globally. And last but not least, we might in the coming months have paying customers. Arise with their large transaction on Friday and Aker Horizon with an large transaction in Africa (including South Africa) today, so i strongly believe we will see strong development i. The stock price at year-end.

I see offshore wind in Norway a bit critical as there is a lot of competition for the allocated plots and most of the other companies have very deep pockets. I think even Magnora once wrote (could be on their magnora offshore wind site) that their hopes are not all that high for Norway. I am excited for whales. Interesting little team hiraeth is made of with some interesting backgrounds. I had a look at them on LinkedIn

Hi, my first post here. Hope it's ok i write in English. One of the big news this year apart from Scotwind, has been the progress of Helios Nordic (Magnora 40% ownership). They have so far sold/agreed to sell more around 350MW of solar projects. Estimations for 2022 was at first 200MW, then then increased it to 280MW, but already Helios has exceeded this! For 2023, Helios has estimated to sell 600MW of solar projects, but it would not surprise me if they increase this at the Q2 presentation. Helios earns around 15-20x CAPEX pr MW sold, and CEO of Magnora said during Q1 that price pr MW for solar getting closer to price pr MW for onshore wind in Sweden. So it can potentially reach up to €100000 pr MW in (near) future. Due to Helios good progress and since we expect milestone payments of €8m from the legacy buisness in Q3 or Q4, Magnora will be in a position to pay out dividend late 2022. For me i really hope there will be new investor how could become majority owner of the company. This is one of the main things how i see it which results in the lack of stock price rising. Too many shares "available". Regards to the deal with RWE, this is not something I have high hopes for anymore. Really difficult with onshore wind in the Nordic countries (except Finland perhapse?). But i do have hight expectations for offshore wind in Wales and Norway!