71 Cloudberry Annual report 2021 Sustainability report and expectation into account and focusing on a transparent and open stakeholder dialogue we will succeed in delivering value that meet expectations from identified stakeholders in every project. We will make it even more accessible by providing transparent information to identified stakeholders around every step in our development and construction phases. At the Hån wind farm project, electricity supply from Sweden will be transferred to Norway through an underground cable. This collaboration contributes to the realization of a common infrastructure for the wind power project and for outdoor purposes. At Hån windfarm Cloudberry considers installing chargers on-site during construction, as an option for business partners and suppliers. The local community may serve the chargers after the construction period. This encourages increased use of electric transport by suppliers and eventually by locals. Charger options are considered on other development projects. At Odal windfarm the fund continues to allocate financial support annually and will create value for children, youth, culture, and other local initiatives. We continue to seek opportunities for cooperation with local stakeholders and communities to create value for them when we develop, construct, and operate our assets. Cloudberry will strive to engage politicians and other stakeholders locally through meetings and on-site visits. We believe in transparency, engagement, and long-term dialogue and cooperation locally to be successful on projects. We listen and learn from every project and aim to further develop local value creation in a systematic way. To meet the renewable energy demand and to achieve competitive conditions, we need to discuss and perceive risks and opportunities in the renewable energy sector, and act. Renewable energy supply Our approach Renewable energy production contributes to conserving natural resources and reaching the ambitious climate goals the world has agreed upon. 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 emissions by 55% by 2030 compared with 1990 levels, with a further reduction down to net-zero by 2050. Renewable energy is a priority area for Norway’s and Sweden’s enhanced climate policy efforts. Our activities During 2021, Cloudberry increased its total output of renewable energy in the Nordics from 21 GWh to 117 GWh (proportionate), which is equivalent to a CO2 reduction of 29 133 tCO2e (relative to baseline emissions from the European electricity mix (EU-27 electricity mix, IEA 2021)). Cloudberry completed several hydro projects, purchased new hydro projects, started construction of Hån windfarm, increased ownership in Odal windfarm, and established a new offshore team to develop offshore projects. Cloudberry`s current portfolio consists of 26 hydro power plants and three wind power assets. Cloudberry has kicked off 2022 with two late-stage wind development projects, securing two new hydro projects and adding an operating segment through the purchase of 60% of Captiva Group. The annual production will increase considerably in 2022. With the current projects under construction, Cloudberry expects to reach an annual production slightly above 500 GWh going forward. Way forward We are powering the transition to a sustainable future by providing renewable energy today and for future generations. We will continue to develop our portfolio and ensure timely and safe completion of projects. Cloudberry sees many opportunities in the Nordic market. In line with our business strategy, we continue to grow, focusing on further development and acquisitions of renewable energy projects and operating power plants, contributing to the European energy transition and net-zero emission society. Sustainable Finance Our approach To ensure that we meet our ambitions, Cloudberry has built a robust, scalable platform for sustainable growth. We see increase in Nordic power consumption, faster development of infrastructure, electrification, and data centre expansion, and this demands
RkJQdWJsaXNoZXIy NTYyMDE=