Cloudberry Clean Energy Annual report 2020

Cloudberry Annual report 2020 Financial statements 118 All transactions with related parties and within group companies are made on arm’s-length basis and in a manner similar to transactions with unrelated third parties. See note 20 Investments in associated companies for information about management fee to Forte See note 25 Lease agreements for information about the office lease agreement See note 5 Business combinations for information about the acquisition of Scanergy AS, Skogvind AS and Scanvind2 AS. The agreements with Captiva and CCPartners will terminate during H1 2021. See note 13 Employee benefits short term and long-term benefits of management NOK 1 000 2020 2019 Accounts receivables 388 - Accounts payable 144 - As per 31 December there were no employee or shareholder loans. Transactions within group companies relate to consultant fees (development), loans and finance agree- ments. All group transactions have been eliminated in the consolidated group accounts. Current receivables are related to claims arising from purchase and sale of services as well as accrued interest on group loans. Short term receivables are unsecured and non-interest bearing. Long term loans between group companies and the applied interest rate reflect the risk related to the loan and is at market terms The group has not made any provisions for losses on current receivables from related parties as of 31 December 2020. Current liabilities are related to purchase of services and accrued interest on loans.

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