14 March 2024, Eqva ASA (OSE: EQVA):

Fossberg Kraft AS is a wholly owned subsidiary of Eqva ASA. Fossberg Kraft
builds and operates hydropower plants and develops forward-looking solutions
within renewable energy. The company is headquartered in Kvinnherad
municipality, Vestland. Since its inception in 2018, Fossberg Kraft has built
hydropower plants in Bjørnafjorden, Sauda, Suldal, Masfjorden, and Drangedal.
Two power plants are currently under construction.

Today, NVE has granted permission under the Water Resources Act § 8 for the
construction of the Gjosa power plant in Sirdal municipality. NVE believes that
the criteria in the Water Resources Act § 25 are fulfilled, as they indicate
that the benefits to public and private interests outweigh the disadvantages of
the project. The development will provide an annual production of 7.65 GWh,
equivalent to the electricity consumption of approximately 380 households.

"This is a project we look forward to starting this year," says Tom Jensen, CEO
of Fossberg Kraft AS.

Please see the attached company presentation for more information about Fossberg
Kraft. 


For more information, please contact: 
Tom Jensen, CEO Fossberg Kraft: +47 952 66 231


Eqva ASA in brief
Eqva ASA is a knowledge-based active owner of engineering, construction and
service companies that contribute to the green transition in maritime, power
intensive and renewable industries. 

The group has a well-diversified product and market portfolio, and further
growth will be established through a combination of company-based development,
utilization of synergies between the companies in the group as well as
value-creating M&A activities. 

Key companies in the group are BKS and Fossberg Kraft, each building on decades
of experience and widely recognized by clients in a broad range of industries. 

Read more on www.eqva.no