12 January 2024

Reference is given to the third quarter report 2023 (page 8) identifying that
the Norwegian Water Resources and Energy Directorate ("NVE") now require ground
mounted Solar PV power plant projects to have a right to grid connection by the
TSO (Statnett) before NVE starts the concession approval procedure necessary for
building a solar PV power plant. The right to grid connection is given in the
form of a "reservation" for grid connection within existing or planned
electricity grid capacity.

On the 4th of December 2023 Energeia announced that it had received a
reservation of a 105 MW grid connection for the Ålamoen Solar PV power plant,
located in Hjartdal municipality in Vestfold and Telemark County from Statnett.

Today, Energeia has received the right for grid connection for 3 solar PV power
plants of 76,3MW in the Gjøvik region. 30MW is granted in the grid capacity
expected to be made available in 2024 and 46,3 MW is granted in the planned
grid. Statnett cannot at this time specify when this capacity is available. The
combined grid connection represents a power plant capacity in the range 100 to
120 MWp. The project Seval Skog is granted grid connection in the existing grid,
and the Mæhlum power plants and Store Nøkleberg power plants are granted grid
connection in the planned grid. 

Based on receiving the above grid reservations Energeia will file concession
applications for these 3 projects to NVE during 2024. However, if, when and how
NVE decides to conduct the necessary concession approval procedure is outside of
our control.

Energeia also received notification that 2 projects are placed in que for right
to grid connection with 258,4 MW in Innlandet County. Final grid connection
reservation will be based on the ongoing revision of the transmission grid
operational capabilities. In addition, a further 3 projects representing 136,9
MW grid connection is placed in que awaiting the next updated regional
development plan that will be started in 2024.

As of today, Energeia has received right to grid connection of in total 181,3MW,
representing an installed capacity between 200 to 260 MWp for 4 power plant
projects. These projects should now qualify for NVE to start the concession
application procedure. In addition, Energeia has 5 projects in formal que for
grid connection with the TSO for a combined 395,3 MW grid connection
representing approximately 475 MWp in installed power plant capacity.

The timing of constructing and grid connecting these projects is dependent on
NVE granting a concession and Statnett and DSOs to build the necessary grid
capacity in the relevant regions.


For further information, please contact:

CEO, Viktor Jakobsen, email: viktor@energeia.no and telephone: +47 916 11 009

Deputy CEO, Jarl Egil Markussen, email: jarl@energeia.no and telephone: +47 480
23 214


This information is subject to the disclosure requirements set out in the
Norwegian Securities Trading Act § 5-12.