Cloudberry Clean Energy Annual report 2020

51 Cloudberry Annual report 2020 Sustainability in our plans. It is also important for us to minimise our impact, for instance by using existing infrastruc- ture. We seek to create financial value for our local stakeholders. Our activities By listing Cloudberry on the Euronext Growth in April 2020, we made investments in renewable energy available to other stakeholders beside governmental and institutional investors, in addition to providing access to capital for Cloudberry. We also seek to create value to the local commu- nities by contributing to common infrastructure solutions. During the construction of the wind park at Årjâng, we contributed locally by building cycle and ski tracks. Similar contribution is planned in Marker municipality. At Odal Vindkraft we have established a fund to contribute to growth and well-being in the local community. Yearly the fund supports teams and associations in the local area, specifically for children and youth, culture and sports, and to sustainability, climate and environment. Our wind parks also give access for landowners to their forest and thereby improves their forest management. We are open to discuss the number of turbines being constructed, as well as height and location of the turbines, as we focus on cooperating with our stakeholders and to perform our business in a sustainable manner. Cloudberry plans to increase the pace of develop- ment and will increase the number of employees in the future. We depend on skilled employees with the right competence and experience. We have recently increased the number of employees at both our offices in Oslo and Karlstad. We are preparing Cloudberry for growth in the development of new renewable and sustainable energy projects in the years to come. Way forward The Nordic society, like others, are in the transition of switching towards renewable energy supply. Ambitious goals have been set by both the Swedish and Norwegian governments. To reach these goals, the supply from renewable sources must be profita- ble. The level of cost has been reduced and makes renewable energy competitive. To meet the renew- able energy demand and to achieve competitive conditions, we must plan in a ten-year perspective. Cloudberry sees the benefit of long-term local coop- eration in connection with the development of new projects. In Eda municipality in Sweden, a collabora- tion has been established with an owner of a large sawmill and several forest owners. Development of wind power will ensure power supply to the sawmill and provide an opportunity to increase production with sufficient access to electricity. At the same time, new forest roads will be built, which will make it easier to extract timber. Cloudberry will strive to create value beyond the establishment of wind power where there is a basis for this. Cloudberry is collaborating with Marker municipality to develop a cycle path. The work is ongoing and the cycle path between Norway and Sweden is in the same route as the power cables for the Hån wind farm project. Hån wind farm is in Sweden but will supply electricity to Norway in underground cables. This collaboration contributes to the realization of a common infrastructure for the wind power project and for outdoor purposes. At Odal wind park the fund will continue to allocate financial support annually and will create value locally for children and youth. We will continue to seek opportunities for cooper- ation with local stakeholders and communities in order to provide value for them when developing new assets. Renewable energy supply Our approach Providing renewable energy is our business, and we contribute to securing renewable energy supply for society. This supports Sweden’s 1 ) goal of producing 100% renewable energy by 2040 and Norway’s 2 ) target to reduce total emissions towards 55% below 1990-levels by 2030. Renewable energy is a priority area for Norway’s and Sweden’s enhanced climate policy efforts. 1) https://sweden.se/nature/energy-use-in-sweden/ 2) https://www.regjeringen.no/en/aktuelt/norge-forsterker-klimamalet-for-2030-til-minst-50-prosent-og-opp-mot-55-prosent/id2689679/