Norsk Renewables - småprat (tidl. Norsk Solar)

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Q2 2024, Norsk Renewables

In Q2, the company continued its efforts to secure future growth and sustainability, with focus on expanding our project pipeline. Our efforts have been concentrated in South Africa and Brazil. The development of a robust project pipeline in South Africa and the completion of our solar PV plants in Brazil are integral to our growth strategy.

The development of our significant project pipeline in South Africa is a key pillar of our growth strategy, with several high-potential projects identified that are poised to deliver substantial long-term value for our shareholders. As these projects advance to maturity, securing additional capital will be essential to move forward with construction and completion, aligning with the Company’s strategic objectives.
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Our business model and the potential of our South African projects have captured strong interest from the capital market which will be explored further in the coming period.

In Brazil, we are on the verge of completing our key projects. The successful completion of these projects will unlock essential cash flow, which will fuel and support our broader growth initiatives across the company.

To navigate the current market landscape and position the company for sustained growth, we are implementing several strategic changes. These include the reallocation of capital towards high-priority projects, the initiative of raising capital for the South African projects, and the adjustment of our operational strategies to better align with market demands. The reallocation of capital is being done with a focus on maximizing returns and ensuring that our resources are deployed where they can have the most significant impact.
In August 2024, Norsk Renewables received approval for a new grant from Norad for up to NOK 15 million for development work in Africa.

As we look ahead, our primary objective is to strengthen our company for future growth. By securing our project pipeline in South Africa, completing key assets in Brazil, and making strategic adjustments to our operations, we are confident in our ability to deliver long-term value to our shareholders and stakeholders. The strategic steps we are taking today are laying the foundation for sustained success, ensuring that our company remains resilient and competitive in the years to come.

Kilde

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Norsk Renewables has received approval of its Environmental Authorization (EA)

Oslo, 16.th of September 2024
Norsk Renewables, an Independent Power Producer (IPP) announces that it has received approval of its Environmental Authorization (EA) under the Solar Exclusion Norm from the Department of Forestry, Fisheries, and the Environment (DFFE). This authorization marks a key milestone, enabling Norsk Renewables to advance its first utility-scale solar project on the African continent.
The DFFE authorization ensures that the project adheres to stringent environmental standards, aiming to minimize its ecological footprint. With the EA now secured, Norsk Renewables is set to advance the development and execution of the solar project. Upon completion, the 315 MW solar facility will generate clean, sustainable energy and reduce the country’s carbon emissions.
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Mr. Torbjørn Elliot Kirkeby-Garstad, CEO of Norsk Renewables stated: “We are excited to receive the Environmental Authorization for this groundbreaking project, bringing us closer to delivering renewable energy to South Africa. This project is perfectly aligned with our mission to accelerate the transition to a low-carbon future and supports the nation’s ongoing efforts to increase its renewable energy capacity.”
Norsk Renewables remains dedicated to responsible energy development and looks forward to working closely with local communities and stakeholders as construction commences.

About Norsk Renewables:
Norsk Renewables AS in brief: Norsk Renewables AS is a vertically integrated independent power producer with approximately 100 MW of solar power in operation or under construction and a 1 GW secured portfolio under development. Expanding commercial offerings with wind and storage projects is in line with the company`s strategy to replace consumers’ energy consumption with 100% renewable power.

For more information, please contact:
Ingrid Sara Grimstad Amundsgård
EVP Sustainability, HSE, Communications and Investor Relations
Mail: ingrid.sara@norskrenewables.com

Kilde

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New CFO appointed

New CFO appointed

Norsk Renewables has appointed Peter Laszlo Keresztes as new Chief Financial Officer (CFO). He joins Norsk Renewables from the role as CFO in VINDR. “We are excited to announce the appointment of Peter Laszlo Keresztes as our new CFO. His broad experience from other IPPs and a proven track record in financial management makes him well-equipped to contribute to strengthening Norsk Renewables’ growth and profitability,” says the CEO of Norsk Renewables, Torbjørn Elliot Kirkeby-Garstad. Keresztes has many years of experience in financial and commercial roles from the renewable energy industry, including from companies like Empower New Energy, Alpiq Energy and Vattenfall. Keresztes holds an MBA with specialization in Corporate Finance from London Business School and a master’s in science in Chemical Engineering from Chalmers University of Technology in Sweden. “I am very excited to join Norsk Renewables as their new CFO and become part of the company’s exciting journey ahead. The company has an exceptionally capable team of employees with a deep commitment towards success, growth and value creation and I very much look forward to contributing towards that, and towards becoming part of the team."
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Keresztes will enter the role as CFO from 1 December 2024.

Contact details for further information:
Torbjørn Elliot Kirkeby-Garstad, CEO
E-mail: tkg@norskrenewables.com
Mobile: +47 920 40 210

Norsk Renewables AS in brief: Norsk Renewables AS is a vertically integrated
independent power producer with approximately 100 MW of solar power in operation
or under construction, combined with a 1 GW secured portfolio under development.
Expanding commercial offerings with wind and storage projects are in line with
the company`s strategy to replace consumers’ energy consumption with 100%
renewable power.

Kilde

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Q3 2024 Financial Report, Norsk Renewables

Q3 Update: Advancing Growth and Sustainability

In Q3, Norsk Renewables made significant strides in securing future growth and sustainability by advancing our project pipeline in South Africa and nearing the completion of our solar PV plants in Brazil. These efforts are integral to our mission of “Making the Shift to Renewable Energy Effortles” and delivering long-term value for our shareholders.
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Strategic Developments in South Africa
In August, we proudly announced our investment in Great Karoo Phase 1 (Pty) Ltd, a project company that owns a major renewable energy initiative in South Africa. This project, comprising 281 MWac of wind, 225MWac of solar PV and a BESS element represents a strategic milestone in our growth journey. It marks the first step in a broader 915 MWp portfolio we are building in the country in partnership with Valinor and NexGrid(previous Musina Flair Generation). This joint ventu reunderscores our commitment to South Africa’s renewable energy transition and aligns with our strategy to create impactful, scalable energy solutions in key markets.
Our South African projects have garnered strong interest from the capital market, both debt and equity. Over the coming months, we plan to bring these financing interests to firm agreements to support further development, construction and ensure successful project execution.

Progress in Brazil
In Brazil, we are on the brink of completing our flagship solar PV projects. The successful completion of these assets will unlock critical cash flow, providing the financial flexibility needed to drive our broader growth initiatives and strengthen our global portfolio.

Strategic Adjustments for Sustainable Growth
To navigate the evolving market landscape, we are implementing key strategic changes, including reallocating capital towards high-priority projects. This approach ensures that resources are directed where they will have the most significant impact, maximizing returns and supporting our long-term goals.

Looking Ahead
Our focus remains on developing our project pipeline in South Africa, finalizing key assets in Brazil, and optimizing our operations to position Norsk Renewables for sustained success. These strategic actions are not just about meeting immediate objectives; they are about laying the groundwork for resilience, competitiveness, and long-term value creation. Thank you for your continued support as we work to realize our vision for a more sustainable and renewable future.

Warm regards,
Torbjørn Elliot Kirkeby-Garstad
CEO, Norsk Renewables

Kilde

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New stock option program

New stock option program:

Norsk Renewables is implementing a new stock option program as a strategic move aligning the interests of employees, management, and shareholders.
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The stock option program includes the issuance of stock options of about 15.6 million shares with a strike price of 0.3 NOK. The 15.6 million shares constitute 6.9% of the shareholding in the company on a fully diluted basis. The vesting of the stock options requires successful achievement of key milestones that will constitute significant value creation for the shareholders of the company.

The level of stock options is well within the 20% mandate issued to the board of directors by the general meeting. The strike price reflects the valuation of the last private placement. The new stock option program replaces all historical stock options.

Appropriate primary insider disclosures will be made when the relevant stock options have been granted and accepted.

Kilde

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Norsk Renewables AS - Strykning

Oslo Børs har vedtatt å stryke aksjene i Norsk Renewables AS fra notering på Euronext Growth Oslo. I henhold til Euronext Growth Oslo Regelbok II pkt. 3.17.2 (2) har Oslo Børs fattet følgende vedtak: «Aksjene i Norsk Renewables AS strykes fra notering på Euronext Growth Oslo fra og med 6. februar 2025. Siste handelsdag vil være 5. februar 2025.»
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Kilde

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Norsk Renewables AS - Delisting

Oslo Børs has decided to delist the shares of Norsk Renewables AS from trading on Euronext Growth Oslo. Pursuant to Euronext Growth Oslo Rule Book II section 3.17.2 (2), Oslo Børs has made the following resolution: “The shares in Norsk Renewables AS will be delisted from Euronext Growth Oslo as of 6 February 2025. The last day of trading will be 5 February 2025.”
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Kilde

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Norsk Renewables receives approval from Oslo Stock Exchange to delist from Euronext Growth Oslo

Oslo, 6th of December 2024.

Norsk Renewables is pleased to announce that it has received formal approval from the Oslo Stock Exchange to proceed with the voluntary delisting from Euronext Growth Oslo of its shares.
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As part of the delisting process, Norsk Renewables will cease trading its shares on the Oslo Stock Exchange, Euronext Growth Oslo effective the 6th of February 2025. The last day of trading will be 5th of February 2025.

The company’s board and management team believe that this move is in the best interest of Norsk Renewables and its shareholders.

Norsk Renewables remains committed to enhancing shareholder value and has a comprehensive strategy in place to continue to grow its business without the pressures and costs associated with maintaining a public listing.

About Norsk Renewables:
Norsk Renewables AS is a vertically integrated independent power producer with approximately 100 MW of solar power in operation or under construction, combined with a 1 GW secured portfolio under development. Expanding commercial offerings with wind and storage projects are in line with the company`s strategy to replace consumers’ energy consumption with 100% renewable power.

For media inquiries:
Ingrid Sara Grimstad Amundsgård
EVP Sustainability, HSE, Communications and Investor Relations
Email: ingrid.sara@norskrenewables.com
www.norskrenewables.com

Kilde

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Information to all shareholders of Norsk Renewables AS

To all shareholders of Norsk Renewables AS
We hereby write to inform you that Norsk Renewables AS (“Norsk” or the “Company”) has received formal approval from the Oslo Stock Exchange to proceed with the voluntary delisting of its shares from Euronext Growth Oslo, as also made public through the stock exchange announcement on 6 December 2024, and that the shares will cease trading on Euronext Growth Oslo effective from 6 February 2025. The last day of trading will therefore be 5 February 2025.
The Company’s board and management team firmly believes that this is in the best interest of Norsk and its shareholders, as it will allow for a more focused operation and flexibility when raising funds, in addition to saving costs for the company. We emphasize that Norsk remains committed to enhancing shareholder value and that we believe the current strategy will allow for continued growth of the business without some of the downsides of maintaining a public listing.
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That being said, the delisting of Norsk will affect certain aspects relating to the shareholding and the extent of ongoing information disclosures to the market and the shareholders, in particular with respect to:

• Public trading: From 6 February 2025 the shares will no longer be registered on a trading platform, which means that buying/selling shares will have to be handled by the individual shareholders directly. Please note that there will be no restrictions on transfer of shares in the Company’s Articles of Association, meaning that the shares will continue to be freely transferable.
• Ongoing reporting requirements: There will no longer be any ongoing reporting requirements for the Company to the market. We will however strive to keep our shareholders informed about key financial items on a regular basis, in particular through the annual general meeting, but also at other times when considered relevant. Information provided by the Company on an ongoing basis will be published electronically at the Company’s web page under “Investors” or sent by email. We would encourage you to register your email address in VPS and consent to receive information from us electronically.
  We would like to take this opportunity to thank you for your support and look forward to an exciting year ahead.
  If you have any questions, please do not hesitate to contact our head of investor relations, Ingrid Sara Grimstad Amundsgård at ingrid.sara@norskrenewables.com

Best regards,
The Norsk Renewables team

Kilde

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Delisting of Norsk Renewables will affect certain aspects relating to the shareholding

To all shareholders of Norsk Renewables AS

We hereby write to inform you that Norsk Renewables AS (“Norsk” or the “Company”) has received formal approval from the Oslo Stock Exchange to proceed with the voluntary delisting of its shares from Euronext Growth Oslo, as also made public through the stock exchange announcement on 6 December 2024, and that the shares will cease trading on Euronext Growth Oslo effective from 6 February 2025. The last day of trading will therefore be 5 February 2025.
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The Company’s board and management team firmly believes that this is in the best interest of Norsk and its shareholders, as it will allow for a more focused operation and flexibility when raising funds, in addition to saving costs for the company. We emphasize that Norsk remains committed to enhancing shareholder value and that we believe the current strategy will allow for continued growth of the business without some of the downsides of maintaining a public listing.

That being said, the delisting of Norsk will affect certain aspects relating to the shareholding and the extent of ongoing information disclosures to the market and the shareholders, in particular with respect to:

• Public trading: From 6 February 2025 the shares will no longer be registered on a trading platform, which means that buying/selling shares will have to be handled by the individual shareholders directly. Please note that there will be no restrictions on transfer of shares in the Company’s Articles of Association, meaning that the shares will continue to be freely transferable.

• Ongoing reporting requirements: There will no longer be any ongoing reporting requirements for the Company to the market. We will however strive to keep our shareholders informed about key financial items on a regular basis, in particular through the annual general meeting, but also at other times when considered relevant. Information provided by the Company on an ongoing basis will be published electronically at the Company’s web page under “Investors” or sent by email. We would encourage you to register your email address in VPS and consent to receive information from us electronically.

We would like to take this opportunity to thank you for your support and look forward to an exciting year ahead.

If you have any questions, please do not hesitate to contact our head of investor relations, Ingrid Sara Grimstad Amundsgård at ingrid.sara@norskrenewables.com

Best regards,
The Norsk Renewables team

Kilde

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Trade of shares of primary insiders / insiders

Oslo, 5 February 2025

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Norsk Renewables (NSOL) has been notified that on 5 February the following primary insiders acquired shares in the company as follows:

• Mark Seger, COO: 250 000 shares, 0,181:- nok per share
• Kjell Ove Amundsgård, KOAS AS, nærstående, 138 800, 0,185:- nok per share

Please refer to the attached notification(s) of the transaction for further details. This information is subject to the disclosure requirements pursuant to the EU Market Abuse Regulation Article 19 and section 5-12 of the Norwegian Securities Trading Act.

For further details, please contact:
Ingrid Sara Grimstad Amundsgård
EVP Sustainability, HSE, Communications and Investor Relations
Mail: ingrid.sara@norskrenewables.com

Kilde