13 September 2024: Eqva ASA (OSE: EQVA) is pleased to announce that its wholly
owned subsidiary, Fossberg Kraft, has successfully completed the development of
two small-scale hydropower plants. The projects are now in the final stage of
being handed over to Fossberg Kraft's long-term partner, Downing.

The power plants, Skjeggfoss and Haugsvær, have been delivered in line with the
plans communicated during EQVA's half-year presentation. The production ramp up
and test phases are completed with excellent results, and both plants are now
fully operative.  

Skjeggfoss Kraftverk in Drangedal, Telemark, has a capacity of 2.0 MW from a
Kaplan turbine and is expected to produce approx. 5.5 GWh/year. Haugsvær
Kraftverk in Masfjorden, Vestland, has a capacity of 1.6 MW from a Pelton
turbine and is expected to produce approx. 4.5 GWh/year. Following the
handovers, Fossberg Kraft will operate a total of nine hydropower plants for
Downing, with a combined expected production of 48 GWh/year.

"This marks an important milestone for the company as we continue to deliver
sustainable energy solutions. These projects show our team's ability to deliver
and demonstrates Fossberg Kraft's expertise in the small-scale hydro power
market," says Even Matre Ellingsen, CEO of EQVA ASA.


For more information, please contact: 
Even Matre Ellingsen, Chief Executive Officer: + 47 990 05 500
Petter Sørdahl, Chief Financial Officer: +47 917 56 147


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


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