14 November 2023
Energeia, Eidsiva Vekst and Hydro Rein has signed a Collaboration agreement with
the aim to develop utility-scale solar projects in selected areas in Norway.
In June 2023, the parties signed a Letter of Intent with the aim of exploring
potential solar power projects in Norway and The Netherlands. Now, the three
companies have formalized the cooperation and moved to the next stage.
The collaboration agreement entails a joint and exclusive project development
partnership until 2028 for the selected areas in Norway.
"Joint development of utility scale solar PV power plants in a seamless
partnership with Eidsiva and Hydro Rein strengthens the execution power to build
new, unsubsidized, and cost-efficient renewable energy production in Norway. The
partnership is based on shared future perspectives and values. The collaboration
represents significant positive synergies for the Energeia group beyond the
individual power plant," says Viktor E Jakobsen, CEO Energeia group."
"We at Eidsiva are happy to launch a partnership together with Energeia and
Hydro Rein that ties together new Norwegian renewable energy with local industry
and jobs. Eidsiva believes in creating new opportunities through providing
critical infrastructure, and this agreement is a step to further strengthen our
ability to deliver on this mission," says Executive Vice President Strategy and
Growth in Eidsiva Petter Myrvold.
"We are happy to formalize our cooperation with Energeia and Eidsiva. This is an
important step towards realizing utility-scale solar power projects in Norway.
Energeia, Eidsiva and Hydro Rein are a good fit in terms of renewable energy
competence, project development skills, and strong industrial heritage. We also
share a common belief in integrating sustainability into the core of our
projects. We will strive to develop solar projects that allow for a combination
of power production and agricultural activities such as grazing on the same
land," says Tor-Ove Horstad, Chief Commercial Officer in Hydro Rein.
Contact persons:
CEO, Viktor Jakobsen, email: viktor@energeia.no and telephone: +47 916 11 009
Deputy CEO, Jarl Egil Markussen, email: jarl@energeia.no and telephone: +47 480
23 214
This information is subject to the disclosure requirements set out in the
Norwegian Securities Trading Act § 5-12.