Stavanger/Johannesburg: Norsk Solar AS ("Norsk Solar", OSEBX ticker: NSOL), a
vertically integrated, independent solar power producer focused on commercial
and industrial (C&I) and utility-scale projects in emerging markets, is
expanding its global presence by establishing a new subsidiary in South Africa. 

 

Adding operations in South Africa is part of Norsk Solar's ambitious growth
strategy of targeting fast-growing C&I markets where access to clean, low-cost
energy can make a significant economic and environmental impact. The addition of
a country manager and additional staff is part of the company's long-term
strategy in the Sub-Saharan markets, with special focus on South Africa. 
 

"Norsk Solar offers businesses and industries a grid alternative that gives them
more control and reliability, reduces costs and cuts their carbon emissions. Our
know-how and financing platform enable us to deploy rapidly on projects, putting
Norsk Solar in a strong position to become a significant player in South
Africa," said Øyvind Vesterdal, CEO of Norsk Solar. 


Norsk Solar South Africa will be led by Country Manager Ramon Tavenor, who has
extensive knowledge of solar renewable energy system development and a 13-year
background in electro-mechanical engineering and construction, including five
years as COO of a leading African Engineering, Procurement and Construction firm
within the solar sector.  
 

"Norsk Solar's efficient energy assets deliver clean power at competitive
prices, not only benefitting the customer, but also helping to sustainably drive
the stabilization of the national grid. I am looking forward to growing Norsk
Solar's presence in South Africa and helping companies and industry players
transition from grid dependency to cost-saving, renewable energy solutions,"
said Tavenor.  

 
Previous Norsk Solar activities in South Africa date back to 2018 and include
membership in USAID-sponsored Power Africa, an investment into the renewable
energy company Sustain Solar (Sustainable Power Generation (Pty) Ltd.), as well
as several solar C&I projects currently under development. Over the next several
months, Norsk Solar plans to add several full-time employees in South Africa to
follow up the company's activities. The company is based in Stavanger, Norway
and has offices in Ukraine, Nicaragua, Brazil, and Vietnam 
 

About Norsk Solar 

Norsk Solar is a fast-growing independent solar power producer, with 70 MW in
operation or under construction in emerging markets. The company is targeting 2
GW under management in 2025, with a focus on supplying corporate and industrial
entities with clean, renewable solar solutions at a low cost. Norsk Solar was
established in 2017 in Stavanger, Norway, and today has offices in seven
countries and more than 25 employees representing 15 nationalities. Read more at
www.norsksolar.com  

 

Contact: 

Helga Cotgrove, CFO  

+47 907 35 246 |  hc@norsksolar.com 


Christine Corkery Steinsholt, Head of Communications  

+47 950 95 481 |  christine@norsksolar.com