16 June 2023

Energeia and Eidsiva Vekst have signed a Letter of Intent (LoI) with Hydro Rein,
Norsk Hydro's dedicated company for renewables development, to jointly cooperate
on developing utility scale solar park projects in Norway and the Netherlands.

"For Energeia, with our focus on development, construction and operation of
solar PV power plants in Norway and in the Netherlands, a cooperation on such
development and joint asset ownership with Hydro Rein represents significant
positive synergies for the Energeia group beyond the individual power plant. A
cooperation further strengthens Energeia's project development and ownership for
the long-term, based on shared future perspectives and values with Hydro Rein,"
says Viktor E Jakobsen, CEO Energeia group. 

"Eidsiva is happy to expand our position within solar power, through the
cooperation with both Hydro Rein and Energeia. We believe this agreement further
strengthens our efforts in developing new renewable energy, catering to the
needs of both local communities and industry", says Executive Vice President
Strategy and Growth in Eidsiva Petter Myrvold. 

"We are looking forward to cooperating with Energeia and Eidsiva on solar
project development in Norway and the Netherlands. Together, we can help our
industrial clients decarbonize through providing more clean energy. For Hydro
Rein, we are excited about Energeia's "Agrivoltaics" efforts which allows for a
combination of agricultural activities such as grazing on the same land used by
solar power plants," says Tor-Ove Horstad, Chief Commercial Officer in Hydro
Rein. 

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


 
About Hydro Rein
Hydro Rein is a leading provider of renewable energy solutions to industrials,
fully owned by the global renewable energy and aluminium company Hydro. Hydro
Rein has a diversified portfolio of 24 projects under development in core
markets in the Nordics and Brazil. The company has an ambition of 3GW in
construction or operation (gross) by 2026, leveraging on a unique customer
offering and Hydro's century-long track record in building industries that
matter.
About Eidsiva


As a leading energy and telecom group, Eidsiva's renewable energy and
infrastructure keeps the lights on, turns waste into heated water for buildings
and provides reliable and fast data connections for businesses and homes.
Eidsiva's 43.5 % stake in Hafslund Eco Vannkraft (Norway's second-largest
hydropower producer) further underlines the group's commitment as a major
contributor to a green transition in Norway.

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.