Cloudberry Clean Energy Annual report 2020

Cloudberry Annual report 2020 Board of Directors report 20 Cloudberry Clean Energy is building a Nordic renewable platform for future generations. We own, develop and operate hydro- and wind power assets in the Nordics. Our business model and strategy Cloudberry Clean Energy is building a Nordic renewable platform for future generations. We own, develop and operate hydro- and wind power assets in the Nordics. The company has an integrated business model with two business segments, Develop and Production, enabling a transparent value chain. A sustainable and local approach is key to our strategy, together with a commitment to long-term value creation for all stakeholders. Develop holds a portfolio of renewable projects in Sweden and Norway and is responsible for develop- ing the projects with external construction partners. Production is the owner of the operating assets, with power sold in the spot market (NordPool) and under fixed price Power Purchase Agreements (PPAs). We cultivate our portfolio to ensure a diversification and balance of risk, returns, assets and geographical scope. We consider material financial and ESG related factors when making strategic decisions. We are building a robust business through a diversified and balanced portfolio and use competitive financing to deliver sustainable and profitable long-term growth. We operate in a market with unique characteristics when it comes to renewables. The hydro and the wind resources in the Nordics are among the best in the world. We use our local knowledge and network to grow through greenfield developments and acquisitions. Cloudberry is well positioned for taking part in structural opportunities in the rapidly growing Nordic renewable sector. In this landscape, we use our listing on Euronext Growth (Oslo Børs) to provide access to capital, transparency, and investment opportunities. The company has begun preparations for listing on the Euronext Stock Exchange (Oslo Børs) in 2021. We believe in being local, focused and agile. Our long-term growth strategy rests upon our ability to create value for all stakeholders, use the best possible technology available, bring down costs, and enhance sustainable operations. Sustainability at the core of our business Our purpose is to provide renewable energy for future generations from hydro and wind power in the Nordics, thereby contributing to a sustainable society in the long term, at the same time as creat- ing value for our stakeholders. The development of new renewable production and capacity contributes to the transition to green energy, European and national climate targets, and the UN Sustainable Development Goals. Sustainability is directly linked to our long-term success. In addition to having a sustainable business model, we are conscious of the need to conduct our business operations in a sustainable way. In 2020, we focused on strengthening our sustainability management and considerable efforts were placed on identifying the aspects that are material to our stakeholders and the business, throughout Cloudberry`s value chain. Board of Directors report