During the third quarter, the focus continued to be on project and business development as well as to drive important long-term projects forward.
- Profit/loss for the quarter was SEK -15.0 million, with revaluation of projects and loans to subsidiaries accounting for SEK -1.9 million. The exchange rate differences as a result of a weaker Swedish krona were SEK 9.5 million.
- In Iceland, our local development company is working to bring existing power plants to full capacity and sign new land leases for future project development.
- In the US, we are working on commissioning a power plant on an existing oil field in California. This will be a pilot project where we use water from oil and gas wells and produce green electricity from the wastewater. The Wendel project is awaiting a permit for wastewater, and we expect a decision from the California Water Board in Q1 2022.
- In Taiwan, the drilling at Westlake has been completed, which has resulted in less flow than expected. The work with the well has increased our knowledge about the geology of the area. We found a permeable zone on a shallower level and planning for a second well is now in progress.
- In Japan, our local development company is working on the completion of construction and commissioning of San Sui as part of the larger Waita project. The goal was to put the project into operation before the end of the year, but due to travel restrictions, it looks like it will be delayed until Q1 2022.
The information was submitted for publication at 07:30 CET on 26 November 2021.
For more information, please contact:
Alexander Helling CEO of Baseload Capital
Baseload Capital_Interim report_Q3_2021