Cloudberry Clean Energy Annual report 2020

7 Cloudberry Annual report 2020 Introduction At the start of the year, the company man- aged the Nordic infrastructure fund “CB Nordic Renewable & Infrastructure Fund I AS” consisting of two producing hydropower plants and two secured hydropower projects under construction. This was the precursor to Cloudberry Production. In February, the company purchased 100% of both Cloudberry Production and the established wind developer Scanergy AS, which later became Cloudberry Develop. The purchase allows us to utilise the best elements of already successful businesses with experienced personnel to form a scalable platform for growth in the attractive Nordic renewable energy market. Cloudberry has strengthened its sustaina- bility management. We have identified our material sustainability topics, established a climate reporting system to monitor the company’s carbon emissions following the guidelines in the Greenhouse Gas Protocol (The GHG Protocol), and initiated assessment of our climate related financial risks and opportunities in accordance with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). The sustainability part in this report describes our approach to sustainability, inspired by the Euronext guidance on ESG reporting of January 2020 and the World Economic Forum (WEF) Stakeholder Capitalism Metrix. Main developments in 2020 February Cloudberry Group established March Completed equity issue, NOK 158 million April Listing on Oslo Børs Merkur Market (today Euronext Growth) June Local manager and 34% owner of a large hydro portfolio in Norway July Completed equity issue, NOK 200 million August Purchase of Skogvind AS (industrial wind developer) September Purchase of Åmotsfoss (hydropower) Re-purchase of Vanern project (100 MW shallow-water project) December Completed equity issue, NOK 500 million Purchase of 15% of Odal Vindpark AS (option until June 2021 for 33.4%)