Eqva ASA

Regulatory Filings • Mar 14, 2024

Eqva ASA: Permission for construction of power plant

Eqva ASA: Permission for construction of power plant

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