Please find enclosed a PDF of the following announcement and an updated Company
Presentation. 

As previously announced in the stock exchange notification on 2nd November 2023,
Norsk Renewables AS (the "Company") has, along with Pareto Securities, carried
out a process to evaluate the best strategic and financial options for the
Company going forward. As a growth company we are dependent on attracting equity
funding from the capital market to fund our operations and capital expenditures.

The Company is now considering raising a minimum of NOK 30 million through a
potential share issue and has engaged Pareto Securities as financial advisor in
this process. This amount, combined with focusing our geographical footprint,
other available funding sources (including potential sale of operating assets)
and other strategic options, is expected to cover development expenses to
further develop the Company's significant project pipeline in South Africa to
ready-to-build stage and general operating expenses through 2024. Following the
maturation of our said portfolio in South Africa up to ready-to-build stage,
further capital will be needed to construct and complete the projects under the
Company's current strategy.

The timing, structure and size of any share issue will be subject to, inter
alia, prevailing market conditions and necessary corporate resolutions, and no
assurance can be given that the Company will carry out any share issue. More
information about the share issue will be published in due course.

About the company:
Norsk Renewables is a vertically integrated independent power producer with
approximately 100 MW of solar power in operation or under construction, combined
with a 1 GW secured portfolio under development. Expanding commercial offerings
with wind and storage projects is in line with the company`s strategy to replace
consumers' energy consumption with 100% renewable power. 

Contact information:
For more information, please feel free to contact
Ingrid Sara Grimstad Amundsgård
Tel: +47 9013 5533 
ingrid.sara@norsksolar.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Ingrid Sara Grimstad
Amundsgård, media contact at Norsk Renewables AS, on 29th of January 2024 at
13:05 CET.