Redeye updates its estimates ahead of Arise’s Q2 report, which is due on 17 July. The quarter showed lower market prices for electricity than expected, which has a negative effect on our Q2 estimates. However, Arise has hedged around 25% of our expected Q2 production at favourable prices, which mutes this negative effect. Furthermore, we expect a significant production contribution from the new wind farm Lebo, as well as revenues from ongoing constructions plus the earn-out payment from the finalised project Ranasjö- and Salsjöhöjden in the development segment. The estimate changes do not affect our fair value range or base case.
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