Solar power

“The four coastal power plants comprising AES Southland are in areas that are critical for local reliability and play an important role in integrating the increasing amounts of renewable generation resources in California.”

Annual report 2025A · The company itself

“The wholesale prices offered for electricity have been volatile in the markets in which we operate due to a variety of factors, including the increased penetration of renewable generation and energy storage resources, low-priced natural gas, demand side management, new regulations, and market rules.”

Annual report 2025A · The company itself

“The levelized cost of electricity from new solar and wind generation sources has decreased substantially over the past decade as solar panel costs and wind turbine costs have declined, while wind and solar capacity factors have increased. These renewable resources have no fuel costs and very low operational costs, while only operating during certain periods of time (daylight) or weather conditions (higher winds).”

Annual report 2025A · The company itself

“The evolution of competitive electricity markets and the development of highly efficient gas-fired power plants and renewables such as wind and solar have also caused, and could continue to cause, price pressure in certain power markets where we sell or intend to sell power.”

Annual report 2025A · The company itself

“Technological changes that could impact our businesses include: •technologies that change the utilization of electric generation, transmission and distribution assets, including the expanded cost-effective utilization of distributed generation (e.g., rooftop solar and community solar projects), and energy storage technology; •advances in distributed and local power generation and energy storage that reduce demand for large-scale renewable electricity generation or impact our customers’ performance of long-term agreements; and •more cost-effective batteries for energy storage, advances in solar or wind technology, and advances in alternative fuels and other alternative energy sources.”

Annual report 2025A · The company itself

“For example, the level of wind resource affects the revenue produced by wind generation facilities. Because the levels of wind and solar resources are variable and difficult to predict, our results of operations for individual wind and solar facilities specifically, and our results of operations generally, may vary significantly from period to period, depending on the level of available resources.”

Annual report 2025A · The company itself

“Additionally, the market rules in the wholesale electric markets in which we operate continue to evolve in response to, among other things, increasing penetration by renewable energy resources and energy storage systems. For example, some wholesale electric market regions have either implemented or are considering changes to how resource adequacy or capacity attributes are allocated to intermittent generating resources.”

Annual report 2025A · The company itself

“AES Andes' Green Blend strategy aims to reduce carbon intensity and to incorporate renewable energy to extend our previous conventional PPAs by de-linking our PPAs from legacy fossil resources while growing our renewable energy portfolio. This strategy delivers a competitive and reliable energy solution for customers, AES Chile has committed to advance the development of new renewables projects, including the implementation of BESS and other technological innovations that will provide greater flexibility and reliability to the system.”

Annual report 2025A · The company itself

“Development Strategy — In order to explore new business opportunities, AES El Salvador created AES Soluciones, an LED public lighting service provider and the main commercial and industrial solar photovoltaic EPC provider in the country.”

Annual report 2025A · The company itself

“In 2025, we signed long-term contracts for 4.0 GW of renewables, bringing our backlog of projects — those with signed contracts, but which are not yet in operation — to 12.0 GW. Our backlog serves as one of the core components of our future growth.”

Annual report 2025A · The company itself

“Overview Generation We currently own and/or operate a generation portfolio of 34,740 MW, including generation from our integrated utility, AES Indiana. Our generation fleet is diversified by technologies and fuel type.”

Annual report 2025A · The company itself

“54% of the capacity of our generation plants is fueled by renewables, including solar, hydro, wind, energy storage, and landfill gas, which do not have significant fuel costs.”

Annual report 2025A · The company itself

“The first is a 195 MW solar project ("Hardy Hills Solar"). The second is a 106 MW wind facility ("Hoosier Wind"). The third is a 200 MW (800 MWh) battery energy storage project ("Pike County BESS"). The fourth is a 250 MW solar and 45 MW (180 MWh) energy storage facility ("Petersburg Energy Center").”

Annual report 2025A · The company itself

“AES El Salvador owns and operates four solar farms: Opico Power, Moncagua, and Metapan with 4 MW, 3 MW, and 15 MW of capacity, respectively, and Meanguera del Golfo, a solar and battery storage facility with 1 MW capacity; as well as AES Nejapa, a biomass power plant with 6 MW capacity; and 50% of Bosforo and Cuscatlan, solar farms with 100 MW and 10 MW capacity, respectively.”

Annual report 2025A · The company itself

“Maximo Business Description — Maximo is an AI-enabled robot that enhances solar module installation speed, efficiency, and safety. Maximo enhances the safety and scalability of solar installation by automating the heavy lifting for placing and attaching solar modules.”

Annual report 2025A · The company itself

“The use of energy produced with renewable natural resources and the development of energy efficiency have reduced the carbon footprint of Apetit Group’s Scope 1&2 emissions by 80 per cent from 2019. In 2025, of all the energy used at Apetit’s production plants, 81 per cent were from renewable sources.”

Annual report 2025A · The company itself

“The climate impacts of operations Apetit has reduced the Group’s Scope 1&2 emissions by 80 per cent from 2019. The emissions reductions has been achieved by investing in renewable energy.”

Annual report 2025A · The company itself

“Advancements in both distributed and utility-scale power generation technology could impact market prices and demand size and behaviors. For instance, commercial and residential solar generation installations, energy storage improvements that include batteries and fuel cells, and other emerging technologies are improving the cost-effectiveness of customer self-supply of electricity.”

Annual report 2025A · The company itself

“Efterfrågan på infrastruktur för förnybar energi och laddning av elfordon är stark på alla våra geografiska marknader. I likhet med BESS (Battery Energy Storage System) växer dessa marknader och de kommer att utgöra viktiga drivkrafter för Eltels tillväxt.”

Annual report 2024A · The company itself

“Eltel Finland har en stark projektpipeline inom solenergi, e-Mobility och BESS för 2025 och dessa marknader har god långsiktig tillväxtpotential i landet.”

Annual report 2024A · The company itself

“Ett gott samarbete mellan kunden Helen, underleverantörerna och Eltels anställda uppskattades av alla projektpartners. ”Samarbetet med Eltel-teamet var viktigt för projektet med solcellsparken Lohja och det är ovärderligt att kunna samarbeta med partners på det här sättet”, säger Pekka Tolonen, direktör för elproduktion på Helen. ”Solcellsparken Lohja är ett utmärkt exempel på hur vi kan uppnå ambitiösa mål om vi arbetar effektivt tillsammans.”

Annual report 2024A · The company itself

“Projekt som solcellsparken Lohja bidrar till Finlands mål att bli helt koldioxidneutralt senast 2030. Många fler förnybara energiprojekt planeras i Finland under de kommande åren, eftersom företaget arbetar för att uppnå sitt klimatmål. ”Vi kan lära oss mycket av det här projektet, men det viktigaste är kanske att arbetet med olika organisationer vanligtvis leder till goda resultat”, avslutar Tolonen.”

Annual report 2024A · The company itself

“Samtidigt som svenska telekomoperatörer minskar sina investeringar finns det betydande möjligheter på energimarknaden i form av projekt inom e-Mobility, solenergi och eldistribution.”

Annual report 2024A · The company itself

“Eltel Norge minskade och anpassade sin verksamhet under året för att hantera sjunkande investeringar på den norska telekommarknaden. Vi behöll dock vår marknadsandel inom telekom och fokuserade på tillväxtmöjligheter på nya marknader.”

Annual report 2024A · The company itself

“Eltel Norge har fler solcellsprojekt på gång och BESS-marknaden förväntas växa i Norge efter lagändringar.”

Annual report 2024A · The company itself

“Dessutom finns det en risk för projektförseningar på grund av högre finansieringskostnader än vad som är acceptabelt för kunderna, speciellt inom nya marknadssegment som e-mobilitet, solenergi och mobil inomhustäckning.”

Annual report 2024A · The company itself

“Vi fortsatte att minska miljöpåverkan av vår verksamhet genom att gå över till elfordon, använda biodiesel istället för fossil diesel och köpa förnybar el på våra arbetsplatser och kontor.”

Annual report 2024A · The company itself

“Dessutom har vi börjat erbjuda innovativa kombinationer av solenergi, BESS och e-Mobility.”

Annual report 2024A · The company itself

“Det finns också möjligheter att kombinera dessa erbjudanden, genom att till exempel kombinera sol energi, BESS och laddning av elfordon i samma projekt.”

Annual report 2024A · The company itself

“Vd för Eltel Finland Finland NETTOOMSÄTTNING 2024 357,7 miljoner euro Communication Power Finland Medelantal anställda, FTE 1 478  Översikt ÖvrigtFinansiella rapporterBolagsstyrningFörvaltningsberättelseHållbarhetVerksamhet Hjälper kunder att göra gröna val 2024 lanserade Eltel sitt Green Choice-initiativ i Finland, som innebär att erbjuda mer hållbara alternativ eller sidoförslag till kundprojekt. Vi lämnade ett framgångsrikt Green Choice-erbjudande till Helen Electricity Network i Helsingfors och började under året kontakta andra stora kunder angående Green Choice-alternativ. • Totalentreprenadskontrakt med Taaleri Energia – etablering, drift och underhåll av en stor solkraftsanläggning, inklusive transformatorstation och anslutning till stamnätet. • Nytt femårigt avtal med energibolaget Helen – konstruktion och underhåll av Helsingfors eldistributionsnät. • Eltel slutförde sina första BESS-projekt – totalt cirka 55 MW. • Kombinerad laddningsinfrastruktur för elfordon och BESS – i ett projekt för en kommersiell kund.”

Annual report 2024A · The company itself

“Vi installerar, underhåller och uppgraderar infrastruktur för eldistribution och kraftöverföring, och erbjuder kompletta lösningar för smarta elnät, e-Mobility, solceller, vindkraft och batterilagringssystem (BESS).”

Annual report 2024A · The company itself

“Berätta mer om utvecklingen av dessa nya affärsområden Med utgångspunkt i våra Communication- och Powerverksamheter etablerar vi oss som en viktig aktör på flera nya marknader med växande möjligheter: Solenergi – vi använder vår stora erfarenhet av stora utrullningsprojekt för att dra fördel av en snabb tillväxt i utvecklingen av solcellsparker, särskilt i Finland och Sverige.”

Annual report 2024A · The company itself

“Vi tecknade avtal med 178 nya kunder och 13 procent av totalt kontraktsvärde var relaterade till nya affärsområden.”

Annual report 2024A · The company itself

“Vi är verksamma på marknader med goda långsiktiga tillväxtmöjligheter – inklusive traditionell kommunikation och el, samt snabbt växande marknader relaterade till e-Mobility, solenergi och BESS.”

Annual report 2024A · The company itself

“Eltel Finland förbättrade lönsamheten under året genom operativ effektivitet och genom att utveckla nya affärsmöjligheter inom solenergi, e-Mobility och BESS.”

Annual report 2024A · The company itself

“Eltel Finland slutförde sitt första stora solcellsparksprojekt under 2024. Solcellsparken Lohja på 7,4 MWp kommer att tillgodose de årliga elbehoven hos cirka  Vi fortsatte att leverera infrastruktur för höghastighetsladdning för en stor kund och för bensinstationskunder.”

Annual report 2024A · The company itself

“Under året inledde vi våra första projekt inom e-Mobility och solenergi. Detta inkluderade Sveriges hittills största solcellspark i Hallstavik, 100 km norr om Stockholm, och ett projekt för likströmsladdning på bensinstationer.”

Annual report 2024A · The company itself

“Eltel Norge levererade sitt första kompletta takmonterade solsystem och började med ett nytt i slutet av året. e-Mobility fortsatte att växa med pågående laddstations projekt i köpcentra, privata hem och företag. Eltel började också leverera högspänningsladdstationer för lastbilar och bussar. • Stort nät för inomhustäckning – tillhandahålls för  med 350 antenner. • Telenor – treårig förlängning av befintligt ramavtal för tjänster inom drift och utveckling. • e-Mobility-partnerskap med Siemens – att leverera laddningslösningar för bussar och lastbilar.”

Annual report 2024A · The company itself

“Eltel Danmark slutförde en solcellspark under året och har två stora solcellsparker i pipeline. Inom e-Mobility byggde landsenheten vidare på sin erfarenhet av att installera laddningsinfrastruktur för bussar och slutförde sina första laddstationer för lastbilar och har avtalat om fler projekt.”

Annual report 2024A · The company itself

“Position tagen på nya och angränsande marknader Eltel etablerade sig som en pålitlig totalleverantör inom förnybar energi i Norden, genom att leverera solparksprojekt, implementera laddstationer för elbilar och slutföra de första BESS-projekten (Battery Energy Storage System).”

Annual report 2024A · The company itself

“81 procent av nyinstallerade förnybara energianläggningar under 2023 uppnådde lägre LCoE än fossila motsvarigheter (IRENA).”

Annual report 2024A · The company itself

“I EU stod förnybar energi för hela 47 procent av elproduktionen under 2024 (Ember 2025). Både vindkraft och solenergi ser ut att fortsätta stärka sin konkurrenskraft gentemot fossil energi och kärnkraft genom teknologisk utveckling och ökade skalfördelar under de kommande åren.”

Annual report 2024A · The company itself

“En jämförelse av elproduktionen över dygnet 31 december 2019 och 2024 visar hur en kraftig utbyggnad av solenergi tillsammans med batterilagring nu hjälper det kaliforniska elsystemet spara energi till konsumtion vid dygnets topplasttimmar och minskar behovet av naturgas och importerad produktion.”

Annual report 2024A · The company itself

“Andel av installerad solcells effekt under 2023 i världen Kina, 40 % USA, 11 %Japan, 6 % Indien, 6 % Australien, 2 % Sydkorea, 1 % Tyskland, 5 % Brasilien, 2 % Spanien, 2 % Italien, 2 % Övriga världen, 23 % Källa: Solar Power Europe, Global Market Outlook for Solar Power 2024-2028 Våra marknader Vi utvecklar projekt för förnybar energi i Sverige, Finland, Baltikum, Polen, USA och Spanien.”

Annual report 2024A · The company itself

“Energy Information Administration (EIA) prognos från 2023 förväntas sol- och vindkraft öka i samtliga delstater och totalt stå för nästan 50 procent av elproduktionen år 2050.”

Annual report 2024A · The company itself

“Marknaden utvecklades starkt inom samtliga teknologier under 2024, särskilt solkraft och energilager.”

Annual report 2024A · The company itself

“Vi skiftar från expansion till prioritering av de marknader och projekt som har bäst förutsättningar för värdetillväxt under perioden. Vi stärker vårt fokus på kärnteknologin landbaserad vind och söker möjligheter att integrera sol och lagring i hybridlösningar med landbaserad vind.”

Annual report 2024A · The company itself

“Under året har Eolus samtidigt lagt till sina första polska batteriprojekt och drivit existerande solkraftsprojekt framåt.”

Annual report 2024A · The company itself

“Eolus affärsidé är att skapa värde i varje steg av utveckling, byggnation och drift av förnybara energilösningar och därmed möjliggöra hållbara investeringar för både lokala och internationella partners.”

Annual report 2024A · The company itself

“Utveckling av förnybar energi Eolus investerar i utveckling av projekt inom förnybar energi med fokus på land- och havsbaserad vindkraft, solenergi och energilagring. De projekt som utvecklas av Eolus bidrar när de realiseras till att öka kapaciteten för förnybar elproduktion.”

Annual report 2024A · The company itself

“Risken motverkas genom att Eolus i affärsplaneringen fokuserar på behovet av en mångsidig projektportfölj.”

Annual report 2024A · The company itself

“Eolus affärsidé är att skapa värde i varje steg av utveckling, byggnation och drift av anläggningar för förnybar energi och möjliggöra hållbara investeringar för både lokala och internationella partners.”

Annual report 2024A · The company itself

“Vi utvecklar både egna projekt från grunden och förvärvar projekt i olika utvecklingsfaser. Vi väljer teknik utifrån plats och aktuella marknadsförutsättningar, ser till att utreda och säkra alla nödvändiga tillstånd och upphandlar utrustning och byggtjänster.”

Annual report 2024A · The company itself

“EU satsar stort på solkraft som teknikslag med mål om att få på plats över 320 GW solcellsenergi senast 2025 och nästan 600 GW till 2030. Bland Eolus marknader sticker särskilt Spanien ut med en väntad installationstillväxt på över 40 GW 2024–2030.”

Annual report 2024A · The company itself

“Vi har idag mer än 25 GW projekt under utveckling.”

Annual report 2024A · The company itself

“Vi har projekt inom vindkraft på land och till havs, solkraft, batterilagring och hybridprojekt.”

Annual report 2024A · The company itself

“Projekt i sen utvecklingsfas eller försäljningsfas Projekt Lokalisering Teknologi Effekt, MW Planerad driftsättning Kommentar Centennial Flats Arizona, USA Sol + batterilager 500+267 2026 Projektet är sålt till ett USA-baserat portföljbolag som ingår i stort, globalt riskkapitalbolag. Eolus ska leverera utvecklingstjänster fram tills driftsättning vilken planeras till 2026.”

Annual report 2024A · The company itself

“Projektet, vars miljötillstånd vann laga kraft 2022, består av 11 turbiner med en totalhöjd på 200 meter och en förväntad elproduktion på 205 GWh årligen. Samtidigt som byggnation av vindkraftsparken påbörjats undersöker vi möjligheten att anlägga en solcellspark i anslutning till vindkraftverken.”

Annual report 2024A · The company itself

“Den huvudsakliga verksamheten är att projektera anläggningar för förnybar energi samt att realisera dem genom försäljning av projekträttigheterna för tillståndsgivna projekt och projekt under utveckling till ett brett spektrum av kunder. I de flesta fall kompletteras försäljningen med ett uppdragsavtal där Eolus leder och utför byggnationen på uppdrag av ägaren.”

Annual report 2024A · The company itself

“Eolus erbjuder också drift- och förvaltningstjänster åt ägare av energianläggningar för ett bekymmersfritt ägande där intäkter och produktion maximeras.”

Annual report 2024A · The company itself

“Eolus är en av Nordens ledande projektörer inom förnybar energi och bolaget är aktivt i hela värdekedjan från tidig projektutveckling till uppförande och drift av anläggningar för förnybar energi.”

Annual report 2024A · The company itself

“Renewable Portfolio Standards Each of the states in which we do business has Renewable Portfolio Standards (RPS) requirements, which generally require fixed percentages of our energy supply to come from renewable energy sources such as solar, wind, hydropower, landfill gas, fuel cells and other similar sources.”

Annual report 2025A · The company itself

“Connecticut's RPS statute requires increasing percentages of the electricity sold to retail customers to have direct ties to renewable sources. In 2025, the total RPS obligation was 39.0 percent and will be 37.0 percent in 2030.”

Annual report 2025A · The company itself

“Massachusetts' RPS program requires electricity suppliers to meet renewable energy standards. For 2025, the RPS and Clean Energy Standard (CES) requirements were 63.1 percent, and will ultimately reach 69.3 percent in 2026.”

Annual report 2025A · The company itself

“Massachusetts electric suppliers were also required to meet Alternative Energy Portfolio Standards (APS) of 6.25 percent and Clean Peak Energy Standards (CPS) of 5.5 percent in 2025. Those requirements will reach 6.5 and 7.0 percent in 2026, respectively.”

Annual report 2025A · The company itself

“New Hampshire's RPS provision requires increasing percentages of the electricity sold to retail customers to have direct ties to renewable sources. In 2025, the total RPS obligation was 22.2 percent and it will ultimately reach 25.2 percent in 2026.”

Annual report 2025A · The company itself

“NSTAR Electric owns, operates and maintains a total of 70 MW of solar power facilities on twenty-two sites in Massachusetts. NSTAR Electric sells energy from these facilities into the ISO-NE market, with proceeds credited to customers.”

Annual report 2025A · The company itself

“NSTAR Electric also owns renewable solar power facilities. The RECs generated from NSTAR Electric's solar power facilities are sold to other energy suppliers, and the proceeds from these sales are credited back to customers.”

Annual report 2025A · The company itself

“The solar industry may experience periods of structural imbalance between global PV module supply and demand that result in periods of pricing volatility, which could have a material adverse effect on our business, financial condition, and results of operations. In the aggregate, we believe manufacturers of solar cells and modules have significant installed production capacity, relative to global demand, and the ability for additional capacity expansion. For example, we estimate that in 2025 approximately 105 GW of capacity was added by solar module manufacturers, primarily in China. We believe the solar industry may from time to time experience periods of structural imbalance between supply and demand, and that excess capacity will continue to put pressure on pricing.”

Annual report 2025A · The company itself

“Module average selling prices in many global markets have declined. However, recent module pricing in the United States, our primary market, has remained stable due, in part, to the rising demand for domestically manufactured modules as a result of the IRA, energy tax credit eligibility restrictions (including foreign-entity-related limitations) as amended by the OBBBA, and tariffs on modules imported into the United States.”

Annual report 2025A · The company itself

“There may be additional pressure on global demand and average selling prices in the future resulting from fluctuating demand in certain major solar markets, such as China. If our competitors maintain module pricing at levels near or below their manufacturing costs, or are able to operate at minimal or negative operating margins for sustained periods of time, or if global demand for PV modules decreases relative to installed production capacity, our business, financial condition, and results of operations could be adversely affected.”

Annual report 2025A · The company itself

“Even if demand for solar modules continues to grow, the rapid manufacturing capacity expansion undertaken by many module manufacturers in China and certain parts of Southeast Asia, particularly manufacturers of crystalline silicon wafers, cells, and modules, has created and may continue to cause periods of structural imbalances between supply and demand.”

Annual report 2025A · The company itself

“As a result, we may be unable to sell our solar modules at attractive prices, or for a profit, during any period of excess supply of solar modules, which would reduce our net sales and adversely affect our results of operations. Additionally, we may decide to lower our average selling prices to customers in certain markets in response to competition, which could also reduce our net sales and adversely affect our results of operations.”

Annual report 2025A · The company itself

“Table of Contents During the year ended December 31, 2025, we settled certain of our obligations related to these issues and continued to engage in settlement discussions with various additional customers. We believe a reasonable estimate of potential future losses will range from approximately $35 million to $75 million.”

Annual report 2025A · The company itself

“In addition, we believe any significant decrease in the cost of silicon feedstock or polysilicon would reduce the manufacturing cost of crystalline silicon modules and lead to further pricing pressure for solar modules and potentially an oversupply of solar modules.”

Annual report 2025A · The company itself

“He is responsible for First Solar’s global manufacturing operations and engineering, including its performance and improvement roadmap, global technology scaling, new plant start-ups, and strategic initiatives.”

Annual report 2025A · The company itself

“He is focused on driving First Solar’s thin film PV module technology.”

Annual report 2025A · The company itself

“Such technologies include the development of bifacial modules, the implementation of our CuRe program, and the ongoing R&D of a viable and commercially scalable perovskite product. •Bifacial. While conventional solar modules are monofacial, meaning their ability to produce energy is a function of direct and diffuse irradiance on their front side, most module manufacturers offer bifacial modules that also capture diffuse irradiance on the back side of a module. Bifaciality compromises nameplate power, but by converting both front and back side irradiance, such technology may improve the overall energy production of a module relative to nameplate power when applied in certain applications, which could lower the overall LCOE of a system when compared to systems using monofacial solar modules.”

Annual report 2025A · The company itself

“•CuRe. Our CuRe program is intended to improve our current semiconductor structure by replacing copper with certain other elements that are expected to enhance module performance by improving its bifaciality characteristics, improving its temperature coefficient, and improving its warranted degradation. As a result of these performance improvements, our PV solar modules are expected to produce more energy in real-world operating conditions over their estimated useful lives than crystalline silicon modules with the same nameplate power.”

Annual report 2025A · The company itself

“We provide a limited PV solar module warranty covering defects in materials and workmanship under normal use and service conditions for up to 12.5 years. We also typically warrant that modules installed in accordance with agreed-upon specifications will produce at least 98% of their labeled power output rating during the first year, with the warranty coverage reducing by a degradation factor every year thereafter throughout the limited power output warranty period of up to 30 years.”

Annual report 2025A · The company itself

“We are the world’s largest thin film PV solar module manufacturer and the largest PV solar module manufacturer in the Western Hemisphere.”

Annual report 2025A · The company itself

“Modules Business Our modules business involves the design, manufacture, and sale of CdTe solar modules, which convert sunlight into electricity. Since the inception of First Solar, our modules have used our advanced thin film semiconductor technology.”

Annual report 2025A · The company itself

“Risks Related to Our Operations, Manufacturing, and Technology •We face intense competition from manufacturers of crystalline silicon solar modules; if global supply exceeds global demand, it could lead to a further reduction in the average selling price for PV solar modules, which could reduce our net sales and adversely affect our results of operations. •Problems with product quality or performance may cause us to incur significant and/or unexpected contractual damages and/or warranty and related expenses, damage our market reputation, and prevent us from maintaining or increasing our market share. •Our failure to further refine our technology and develop and introduce improved PV products, including as a result of delays in implementing planned advancements, could render our solar modules uncompetitive and reduce our net sales, profitability, and/or market share.”

Annual report 2025A · The company itself

“Market Overview Solar energy is one of the fastest growing forms of renewable energy with numerous benefits, including economic benefits and speed of deployment, which make it an attractive complement to or substitute for traditional forms of energy generation. In recent years, the cost of electricity from PV solar power systems has generally been competitive with or below other forms of generation. Other technological developments in the renewable energy industry, such as the advancement of energy storage capabilities, have further enhanced the prospects of solar energy as an attractive complement to traditional forms of energy generation. As a result of these and other factors, worldwide solar markets continue to develop and expand.”

Annual report 2025A · The company itself

“We continue to research and develop our thin-film semiconductor technology, with a focus on the use of perovskite thin films. Perovskites have the potential to significantly increase the efficiency and reduce the cost of PV solar modules either through single-junction or potentially multi-junction devices. Supported by the associates at our California and European Technology Centers, we continue to advance our work on improving both the efficiency and stability of this technology in developing a commercially scalable perovskite product.”

Annual report 2025A · The company itself

“Energy Performance In many climates, our solar modules provide certain energy production advantages relative to competing crystalline silicon solar modules. As a result, our solar modules can produce more energy in real-world operating conditions than conventional crystalline silicon modules with the same nameplate power.”

Annual report 2025A · The company itself

“As such, we operate as a single operating segment. Our third-party customers include system developers, independent power producers, utilities, commercial and industrial companies, large corporate energy buyers, and other system owners and operators.”

Annual report 2025A · The company itself

“Delivering solutions for tomorrow’s mine Fundamentals of our business Underlying long-term demand for metals and minerals remains robust, driven by emerging middleclass, expansion of renewables, rapid adoption of electric vehicles and growing datacentre demand.”

Annual report 2025A · The company itself

“Det finns en växande efterfrågan på lösningar som inkluderar solenergi, energieffektivisering, styrning och mätning av energiförbrukning samt integrering av batterier och smart teknik i både nya och befintliga fastigheter.”

Annual report 2024A · The company itself

“Att verksamheter som tillverkar produkter för eldistribution spelar en viktig roll i omställningen är något som särskilt lyfts fram i EU:s Taxonomi. Detta för uppgradering av befintlig eldistribution, användning och nyetablering, vilka alltmer försörjs av sol- och vindkraft. Eldistribution som i sin tur möjliggör laddning av elfordon och omställning till 100% elektrifierade fastigheter och samhällen.”

Annual report 2024A · The company itself

“Natur1 Leverandører Energi 100 % av årlig innkjøp av elektrisitet fra fornybar energi innen 2030.”

Annual report 2024A · The company itself

“Produksjon, installasjon og service av høy-, mellom-, og lavspenning elektrisk utstyr for elektrisk overføring og distribusjon (Redusere og forebygge klimagassutslipp - 3.20) Kongsberg Maritime utvikler, installerer og gjennomfører service av Electrical Power Systems (EPS) som bidrar til reduksjoner i klimagassutslipp gjennom integrasjon av fornybare energiløsninger og effektiv kraftkonvertering til fartøy. Alle våre leveranser av EPS oppfyller beskrivelsen av aktiviteten og anses derfor som Omfattet.”

Annual report 2024A · The company itself

“According to the International Energy Agency (IEA), power sector investment in solar photovoltaic technology was expected above USD 500 billion in 2024, surpassing all other generation sources combined.”

Annual report 2024A · The company itself

“Buying and installing solar panels is currently the largest single category of investment in electricity generation.”

Annual report 2024A · The company itself

“Magnora is well positioned in this market for the long term. Our service is fundamental: We provide a landbank, grid applications and the management of environmental studies and government approvals in order for our customers to get a head start.”

Annual report 2024A · The company itself

“Magnora is pragmatic regarding technology in its projects. Magnora has chosen to specialise in the development phase, which is competence intensive and where the right teams make a difference and a decent profit if industrial size and diversified portfolio.”

Annual report 2024A · The company itself

“New markets and investments are evaluated continuously.”

Annual report 2024A · The company itself

“New markets, technologies and opportunities are regularly being evaluated.”

Annual report 2024A · The company itself

“The strategy of building a robust portfolio across several segments and geographical areas has proven effective.”

Annual report 2024A · The company itself

“Magnora started building its portfolio of renewable companies and projects in 2020 with (a) Kustvind, a shallow water offshore wind project company, and (b) Evolar AB, a solar-power technology company. In 2021 Magnora (a) established Magnora Offshore Wind, together with TechnipFMC, and was awarded a licence in ScotWind following a licence application tender process, (b) acquired a stake in the solar-energy developer Helios Nordic Energy, (c) entered the South African market through acquiring a South African developer within wind and solar project portfolio, and (d) increased its ownership in Evolar to 50 percent.”

Annual report 2024A · The company itself

“Magnora sells before the physical construction of powerproducing assets, which are capital intensive and with often lower return on capital than in the development space.”

Annual report 2024A · The company itself

“Contents This is Magnora 3 The portfolio 12 Strategy 17 Corporate governance 19 Senior management and Board of Directors 25 The Board of Directors’ report 27 Sustainability 35 Alternative performance measures 41 Financials - consolidated 43 Financials - parent company 78 Remuneration report 99 Responsibility statement Purpose Magnora accelerates the shift to greener and more available energy through developing highquality, profitable projects within wind, solar and battery energy storage.”

Annual report 2024A · The company itself

“Magnora focuses on medium and large solar, battery and wind projects.”

Annual report 2024A · The company itself

“Solar PV Storage hafslundmagnorasol.no The portfolio The portfolio Scotland: Offshore wind Offshore wind development in collaboration with TechnipFMC • Developing 495 MW floating offshore wind capacity in Scotland, project Talisk (ScotWind, N3 area) • Project Talisk is one of the earlier ScotWind projects to connect to grid (in 2030) • 80 percent ownership England: Battery energy storage and solar Storage and solar PV development in the UK Partnership for development of solar PV and battery storage projects with a local developer in the UK, Active portfolio of 545 MW at different stages of development 50 percent ownership Offshore Floating Wind Solar PV Storage magnoraoffshorewind.com Magnora established Magnora Offshore Wind AS (“MOW”) in partnership with TechnipFMC (which owns 20 percent), and the company submitted its application for license to develop a floating offshore wind farm in the ScotWind leasing round, in 2021.”

Annual report 2024A · The company itself

“The proceeds received this year represent a value multiple of 15.7 on Magnora’s investment in Helios in 2021 before potential additional (earn-out) payments.”

Annual report 2024A · The company itself

“In 2023 Magnora (a) sold all its holdings in Evolar to First Solar for approximately USD 29 million (with additional earnouts of USD 18.7 million depending on milestone achievements), (b) sold its two first projects in South Africa, and (c) significantly increased its focus on battery energy storage systems.”

Annual report 2024A · The company itself

“The Group’s local development company, AGV, sold its first two projects in 2023, both to Globeleq which is a leading independent power producer (IPP) owned by British International Investment and Norfund. Globeleq was successful in April 2024 in South Africa’s Energy Storage Capacity Independent Power Producer Procurement Programme (ESIPPPP) with the award of the 153 MW / 612 MWh Red Sands project, one of the projects sold in 2023, meaning the project is progressing towards financial close and the last milestone payment to Magnora, expected by H2 2025.”

Annual report 2024A · The company itself

“Även om den svenska solcellsmarknaden kollapsade så fortsätter solenergi att växa globalt. År 2024 ökade den globala solcellskapaciteten till över 2,2 TW, från 1,6 TW år 2023, då omkring 600 GW ny solkraft togs i drift.”

Annual report 2024A · The company itself

“År 2024 ökade den globala solcellskapaciteten till över 2,2 TW, från 1,6 TW år 2023, då omkring 600 GW ny solkraft togs i drift. Detta markerar ännu ett rekordår för solcellsutbyggnaden, trots fortsatt överkapacitet inom tillverkningen och fallande modulpriser som satt press på hela värdekedjan.”

Annual report 2024A · The company itself

“TEKNIKSKIFTEN OCH PRODUKTUTVECKLING Den tekniska utvecklingen pågår kontinuerligt inom de områden där Bolaget bedriver verksamhet. Solceller och teknologier av den typen som Bolaget utvecklat och tillverkar kan bli föremål för snabb teknisk utveckling eller ersättas helt av mer effektiva teknologier.”

Annual report 2024A · The company itself

“Detta medför att vi ligger nära hela värdekedjan uppströms då våra leverantörer levererar råmaterial och komponenter till solpaneler som vi inte kan tillverka själva.”

Annual report 2024A · The company itself

“ÅRSREDOVISNING 2024 6 Väsentliga händelser helåret 2024 Midsummer tecknar ett samförståndsavtal med försvars- och säkerhetsföretaget Saab i syfte att utreda ett långsiktigt partnerskap i Thailand. Parterna har gemensamt identifierat möjligheter i etableringen av en ”megafabrik” på 200 MW för produktion av tunnfilmssolceller med Midsummers egenutvecklade teknologi och produktionsutrustning i Thailand.”

Annual report 2024A · The company itself

“Ordervärdet är drygt 16,5 miljoner kronor. Midsummer erhåller bidragsutbetalningar på cirka 93 miljoner kronor från den italienska investeringsmyndigheten Invitalia samt Region Puglia för färdigställandet av sin fabrik för tillverkning av tunnfilmssolceller i Bari, Italien.”

Annual report 2024A · The company itself

“Vi var förutseende nog att tidigt ställa om vår försäljningsorganisation från att främst sälja solceller för privatbostäder, till att fokusera på marknaden för stora, platta tak på kommersiella byggnader. Den drivs av delvis andra faktorer som gjort den mindre konjunkturkänslig men framför allt passar den våra produkter mycket bättre.”

Annual report 2024A · The company itself

“Det är inte längre Sverige som huvudsakligen är vår främsta marknad. Vi tittar mot Europa och andra kontinenter och det beror i hög grad på den ”skyddade marknad” vi tror oss ha funnit i solcellstak för kommersiella byggnader med svaga tak.”

Annual report 2024A · The company itself

“Genom att gå från att äga fabriker till att sälja fabriker, kan vi växa produktionskapaciteten för vår teknologi snabbare och med en ”asset-light” affärsmodell. Under 2025 är målsättningen att stänga flera större affärer på stora kommersiella anläggningar hos strategiska, multinationella kunder, så att vi blir branschstandarden för solpaneler för stora platta tak med låg bärighet. Vi siktar även på att sälja minst en nyckelfärdig solcellsfabrik.”

Annual report 2024A · The company itself

“Det är företagets bedömning att det finns en marknadspotential i Europa på 25 GW (20-30 miljarder euro) per år för dessa tak där ingen annan bra lösning existerar idag. På så vis kan man säga att Midsummers solceller öppnar upp ett helt nytt applikationsområde och en marknadsmässig ”protected pocket”.”

Annual report 2024A · The company itself

“För att ytterligare understödja etableringen har Midsummer erhållit stöd från Energimyndighetens Global Innovation Accelerator (GIA), som syftar till att skala upp svensk grön teknologi globalt.”

Annual report 2024A · The company itself

“Midsummer avser att etablera ett dotterbolag i Thailand med svensk representation på plats för att bearbeta marknaderna, skapa partnerskap, utveckla relationerna med myndigheter och institutioner med målet att realisera Midsummers identifierade potential i regionen. För den thailändska marknaden har Midsummer även tecknat ett distributionsavtal med Eco On Company Limited, som verkar som lokal distributör och EPC-partner för Thailand och ASEAN.”

Annual report 2024A · The company itself

“Lars Svensson Chef Affärsutveckling Asien Midsummer ÅRSREDOVISNING 2024 17 Midsummer fick Solenergipriset 2025 Midsummer har tilldelats Solenergipriset 2025 av branschföreningen Svensk Solenergi för ”Årets anläggning byggnad”. Man vann priset för sin installation av de estetiskt tilltalande och miljövänliga tunnfilmssolcellerna vid Jonsereds trädgårdar i Partille.”

Annual report 2024A · The company itself

“ÅRSREDOVISNING 2024 5 Midsummer i korthet Midsummer grundades 2004 och är en ledande aktör inom innovativ solcellsteknologi, specialiserat på flexibla CIGS-tunnfilmssolceller (bestånde av koppar, indium, gallium, selen), utvecklad med egen produktionsteknik.”

Annual report 2024A · The company itself

“Midsummers resurseffektiva tillverkningsmetod har resulterat i koldioxidavtryck på 6 gram CO2e per producerad kilowattimme (gCO2e/kWh) 1 , när panelen installeras i Sverige och med en beräknad livslängd på 30 år.”

Annual report 2024A · The company itself

“Hållbarheten Tack vare en unik produktionsteknologi och -process har Midsummers produkter upp till 90 procent lägre klimatavtryck sett över en livscykel än traditionella paneler, och lägre än även vind- och vattenkraft.”

Annual report 2024A · The company itself

“VERKSAMHETEN Midsummer AB (”Midsummer”, ”Bolaget” eller ”Koncernen”) har en världsledande teknologi för tillverkning av solcellstak och solpaneler, samt av produktionsutrustning för solceller.”

Annual report 2024A · The company itself

“Bolaget utvecklar, tillverkar och säljer solpaneler till en bred kundbas inom flera sektorer, från industri- och kommersiella fastigheter till offentliga verksamheter, privatpersoner samt tak- och solcellsinstallatörer.”

Annual report 2024A · The company itself

“Table of Contents In addition, the 30% ITC, subject to a phase-down in 2034 and 2035, applies to energy storage projects placed in service after 2022 that begin construction by December 31, 2033 (no eligibility for projects that begin construction after 2035), and to certain property with respect to renewable natural gas facilities (including gas upgrading equipment) placed in service after 2022 that begin construction by December 31, 2024. These projects and property are subject to the same labor requirements and credit enhancements applicable to wind and solar facilities (discussed above).”

Annual report 2025A · The company itself

“Table of Contents Changes in weather can also affect the production of electricity at power generation facilities, including, but not limited to, NEER's wind and solar facilities. For example, the level of wind resource affects the revenue produced by wind generation facilities. Because the levels of wind and solar resources are variable and difficult to predict, NEER's results of operations for individual wind and solar facilities specifically, and NEE's results of operations generally, may vary significantly from period to period, depending on the level of available resources.”

Annual report 2025A · The company itself

“FPL owned and operated 44 units with generating capacity of 24,314 MW that primarily use natural gas and 108 solar generation facilities with generating capacity totaling 7,932 MW.”

Annual report 2025A · The company itself

“In 2025, FPL added new solar generation with capacity totaling 894 MW and battery storage capacity totaling 522 MW.”

Annual report 2025A · The company itself

“The NEER segment owns, develops, constructs, manages and operates generation facilities, including renewables, nuclear and natural gas, as well as battery storage facilities in wholesale energy markets in the U.S. and Canada.”

Annual report 2025A · The company itself

“Solar Facilities •located in 35 states in the U.S.; •operated photovoltaic and solar thermal facilities with a total generating capacity of approximately 12,794 MW, including capacity associated with noncontrolling and joint venture interests, as of December 31, 2025; •ownership interests in solar facilities with a total net generating capacity of approximately 10,504 MW as of December 31, 2025; ◦essentially all MW are contracted solar facilities located primarily throughout the West and South regions of the U.S.; ◦includes the impact of approximately 2,859 MW of generating capacity added in the U.S. in 2025, as well as assets sold to a third party totaling approximately 188 MW.”

Annual report 2025A · The company itself

“Certain facilities within the NEER wind and solar generation portfolio produce RECs and other environmental attributes which are typically sold along with the energy from the plants under long-term contracts, or may be sold separately from wind and solar generation not sold under long-term contracts.”

Annual report 2025A · The company itself

“Accelerated renewable energy deployment Global renewable capacity continues to grow at record speed. Solar remains the largest driver of new generation, while Europe leads in offshore wind development. By 2060, solar power will dominate electricity generation with a projected share of 47%, increasing fivefold from 2024, while wind is estimated to account for 32%, making these two sources the backbone of global energy supply.”

Annual report 2025A · The company itself

“Aluminium er en nøkkelfaktor i det grønne skiftet Aluminium er en viktig faktor i det grønne skiftet, og mot 2030 ser Hydro en økende etterspørsel etter aluminium med lavt karboninnhold, spesielt til elbiler, solenergi og strømsystemer.”

Annual report 2024A · The company itself

“Ekstrudert aluminium er også mye brukt i den voksende solenergisektoren, spesielt til monteringssystemer og rammer.”

Annual report 2024A · The company itself

“Some emerging technologies, such as distributed renewable energy technologies, broad consumer adoption of electric vehicles and energy storage devices, could affect the price of energy. These emerging technologies may affect the financial viability of utility counterparties and could have significant impacts on wholesale market prices, which could ultimately have a material adverse effect on NRG's financial condition, results of operations and cash flows.”

Annual report 2025A · The company itself

“Lower Carbon Infrastructure Development — Policy mechanisms at the state and federal level, including production and investment tax credits, cash grants, loan guarantees, accelerated depreciation tax benefits, RPS, and carbon trading plans, have supported and continue to support the development of renewable generation, demand-side and smart grid, and other lower carbon infrastructure technologies.”

Annual report 2025A · The company itself

“Additionally, ERCOT and PJM require periodic demonstration of capability, and the capacity may vary individually and in the aggregate from time to time (c)Powerton is projected to close by December 31, 2029 to comply with environmental requirements (d)On January 17, 2025, PG&E filed an advice letter to the CPUC seeking approval of a termination agreement between the utility and Solar Partners II, LLC and Solar Partners VIII, LLC, which include NRG’s ownership interests.”

Annual report 2025A · The company itself

“Market demand for PSG products continues to be driven by vehicle electrification, renewable energy expansion, modernization of global power infrastructure, and the rapid scaling of AI and high‑performance computing systems.”

Annual report 2025A · The company itself

“Business Strategy Developments We are focused on increasing profitable revenue through differentiated technologies to address the high-growth megatrends in automotive, industrial and other markets which include AI data centers.”

Annual report 2025A · The company itself

“Our product development efforts are directed towards the following: •addressing the need for solutions to manage and optimize the growing power demands and distribution within AI data centers; •powering the electrification of the automotive industry with our intelligent power technologies that allow for lighter and longer-range electric vehicles and enable efficient fast-charging systems; •propelling the sustainable energy evolution with our intelligent power technologies for the highest efficiency solar strings, industrial power and storage systems; •enhancing the automotive mobility experience with our intelligent sensing technologies with imaging and depth sensing that make AD, ADAS, and advanced vehicle safety possible; and •enabling robotics, humanoids, automation, and data exchange (Industry 4.0) with our intelligent sensing technologies for smarter factories and buildings.”

Annual report 2025A · The company itself

“In the industrial market, our intelligent power technologies propel sustainable energy for the highest efficiency solar strings and industrial power.”

Annual report 2025A · The company itself

“Utöver det absoluta reduktionsmålet har banken också satt mål för elupphandling, vilket innebär att 100 procent förnybar el ska fortsätta att köpas fram till 2030.”

Annual report 2024A · The company itself

“På samma sätt kan förnybar energi, främst i form av förnybar fjärrvärme, ingå i den energi som köps på den lokala marknaden.”

Annual report 2024A · The company itself

“Möjliggöra utsläppsminskningar hos andra företag (möjlighet – marknader) I takt med att mer utsläppsintensiva branscher – som kraftbolag, allmännyttiga bolag inom vatten och avfallshantering, transporter och tillverkning – påskyndar sitt arbete för att minska sina utsläpp i Net Zero 2050-scenariot, görs betydande investeringar för att nå målen för utsläppsminskningar. Många av dessa investeringar, såsom användningen av smarta elnät och privata nät, är avhängiga av IKT-lösningar, vilket skapar stora möjligheter för Ericsson att erbjuda sina kommunikationslösningar till dessa branscher på medellång till lång sikt.”

Annual report 2024A · The company itself

“Under 2024 skedde en geografisk omfördelning av försäljningen, tillbaka till marknader som har jämförelsevis större andel el från förnybara källor i de nationella näten, vilket bidrog till lägre utsläpp nedströms i värdekedjan.”

Annual report 2024A · The company itself

“Säkerställa en affärsmiljö som främjar öppen innovation och rättvis handel. – Utveckla den datadrivna ekonomin där uppkoppling möjliggör expansion av AI, molnbaserad teknik och allmännyttiga tjänster. – Stödja en säker och robust infrastruktur. – Uppmuntra till användning av rena, energieffektiva och hållbara lösningar.”

Annual report 2024A · The company itself

“Energiamarkkina Energiasiirtymä jatkui, ja tuulija aurinkovoiman rakentamisen odotetaan kasvavan uusiin ennätyksiin vuosina 2024 ja 2025. IEA:n (International Energy Agency) ja BNEF:n (Bloomberg New Energy Finance) arvioiden mukaan tuulija aurinkovoiman yhteenlaskettu kapasiteettilisäys vuonna 2025 olisi 650:n ja 800 gigawatin välillä.”

Annual report 2024A · The company itself

“Energiamarkkinoita luonnehtii vahvasti siirtymä uusiutuviin energianlähteisiin, esimerkiksi tuulija aurinkovoimaan.”

Annual report 2024A · The company itself

“Yhtiön energiaratkaisut soveltuvat hyvin monenlaisiin tarkoituksiin, esimerkiksi perusvoiman tuotantoon, kantaverkon vakautta varmistavaan tuotantoon, kuormitushuippujen tasaamiseen, kuormaa seuraavaan tuotantoon sekä tuulija aurinkovoiman laajemman integroinnin tukemiseen.”

Annual report 2024A · The company itself

“Muutos viittaa hiilineutraaliussiirtymästä syntyvien houkuttelevien kasvumahdollisuuksien hyödyntämiseen sähköntuotannossa, säätövoimassa ja vihreässä merenkulussa sekä niihin liittyvissä palveluissa.”

Annual report 2024A · The company itself

“Wärtsilä tukee yhteiskuntia ja asiakkaita nopeuttamaan hiilineutraaliussiirtymäänsä markkinoiden johtavilla uusiutuvaa sähköntuotantoa tasapainottavilla teknologioilla ja sähköjärjestelmien mallinnusosaamisella. Wärtsilä Energyn ratkaisuvalikoimaan sisältyvät elinkaarija hiilineutraaliuspalvelut, kestäville polttoaineille soveltuvat voimalaitokset sekä energian varastointija optimointiteknologia, mukaan lukien GEMS Digital Energy -energianhallintajärjestelmä.”

Annual report 2024A · The company itself

“Nearly half of global electricity generation is expected to come from renewable energy sources in 2030, primarily from wind and solar.”

Annual report 2025A · The company itself

“Ørsted is dependent on continued governmental support for power produced by renewable energy sources such as contracts for difference (CfDs) and other support schemes. ‘Revenue risk’ (power price and volume risk) is our third-largest risk, moving up from sixth place last year. Ørsted’s main revenue risk stems from our intermittent power generation from wind and solar PV assets.”

Annual report 2025A · The company itself

“Additionally, we closed the divestment of a 24.5 % stake in our West of Duddon Sands Offshore Wind Farm, and in February 2026, we signed a divestment agreement on our European onshore business. In the US, we completed the 50 % farm-downs of two solar farms, Eleven Mile Solar Center and Sparta Solar, and divested a 49 % stake in our Badger Wind project.”

Annual report 2025A · The company itself

“We create value by developing, construc ting, operating, and owning renewable assets and by providing sustainable energy products to our customers.”

Annual report 2025A · The company itself

“The increase was due to the ramp-up of generation at Sparta Solar, Eleven Mile, and Mockingbird. This was partly offset by the 50 % farm-downs of the same projects.”

Annual report 2025A · The company itself

“EBITDA from our onshore business excl. new partnerships amounted to DKK 4.2 billion, DKK 0.2 billion higher than in 2024. The increase was due to the ramp-up of generation at Sparta Solar, Eleven Mile, and Mockingbird.”

Annual report 2025A · The company itself

“We advanced expansion projects across several terminals and continued modernising our facilities, with a strong focus on electrification, green-grid solutions and infrastructure resilience.”

Annual report 2025A · The company itself

“We will continue to grow our renewables and energy transition services with a focus on driving efficiencies and growing revenue.”

Annual report 2024A · The company itself

“Specialised engineering, technical advisory and consultant for the commercial development of offshore and onshore renewable energy.”

Annual report 2024A · The company itself

“Our business Renewables Renewables ABL Group offers expert technical and engineering consultancy across all renewable energy markets, offshore and onshore, providing tailored support to clients across the lifecycle of a project, from concept through to construction and operations. Our track-record covers wind energy (onshore, fixed and floating), floating and ground-mount solar PV, battery energy storage systems (BESS), and wave and tidal.”

Annual report 2024A · The company itself

“Together ABL Group combines recognised practical experience across our markets with cutting-edge engineering and technical expertise, to provide turn-key and fit-for-purpose technical solutions to decarbonise our sectors. We bring a technical authority across the renewable energy landscape, covering wind energy, energy storage, solar PV and hydrogen among others, as well as an understanding of the challenges facing different segments of energy and oceans in transitioning to net-zero.”

Annual report 2024A · The company itself

“ABL Group serves three main industries oil and gas, along with renewables and maritime - industries which experience volatile business cycles.”

Annual report 2024A · The company itself

“Turnover The revenues (based mainly on externally invoiced data) related to “environmentally sustainable economic activities towards climate change mitigation” was deduced to be $3.6m . The projects that constituted this include: Research and evaluation challenges for carbon dioxide flow in pipelines when compared to Oil & Gas Numerous research and development projects in our renewables segment, that were performed, funded by national. international and multinational research funding bodies towards mitigation.”

Annual report 2024A · The company itself

“Dedicated renewable energy consultancy, providing technical advisory, engineering and consulting for the commercial-scale development of wind energy, solar PV, energy storage, wave and tidal energy technologies, onshore and offshore.”

Annual report 2024A · The company itself

“Headed up by Rubin Sidhu, Managing Director for Onshore Renewables at OWC Americas, the team brings expertise in supporting equity investments, mergers & acquisitions (M&A), and technical due diligence in wind energy, solar PV, battery energy storage systems (BESS). international maritime, experience counts.”

Annual report 2024A · The company itself

“OWC has a strong track record of 110 Gigawatts (GW) in 2.5 years under our onshore renewables division which is predominantly focused on technical due diligence (TDD) and other consultancy services serving the battery storage, solar, and onshore wind industries.”

Annual report 2024A · The company itself

“2) Increased demand for products for the generation of clean energy technologies There is increasing demand for raw materials such as chrome ore and low-carbon ferrochrome for clear energy technologies and essential applications in the energy transition, electromobility and other green technologies.”

Annual report 2025A · The company itself

“A key initiative is the development of its own solar power generation capacity in South Africa. At the Vlakpoort site, the planned commissioning of a new wash plant in combination with a solar energy installation is intended to reduce reliance on the national electricity grid, mitigate exposure to power supply constraints and lower long-term energy costs and emissions intensity.”

Annual report 2025A · The company itself

“Concrete steps are already underway in Germany, where a photovoltaic system installed on the crushing hall building generated approximately 700 MWh of electricity by the end of 2025, alongside measures such as LED lighting conversion (approximately 21,000 KWh/year savings). The company is evaluating the feasibility of additional solar energy projects at selected sites, with the objective of increasing the share of self-generated renewable electricity and reducing structural reliance on external grid supply.”

Annual report 2025A · The company itself

“Additionally, the Group has commissioned a 1.5 MWp solar plant in South Africa with 3.0 MWh battery storage, which is expected to replace just under 1,000 MWh of grid electricity annually.”

Annual report 2025A · The company itself

“Afarak leverages energy efficiency improvements, production optimisation and its own energy generation as strategic tools to enhance its cost structure, margin stability and competitiveness.”

Annual report 2025A · The company itself

“Kundprojekt AFRY designar pumpkraftverk när Australien ställer om till hållbar energi Under året vann AFRY, tillsammans med det australiensiska bolaget Aurecon, ett designkontrakt för pumpkraftsprojektet Borumba i Queensland i östra Australien. Australien driver just nu en stor energiomställning där man fasar ut fossila energikällor som kolkraft och olja, och ersätter med förnybar energi.”

Annual report 2024A · The company itself

“Accelerera hållbarhetsomställningen AFRYs hållbarhetspolicy framhåller att vi aktivt ska söka transformativa och innovativa uppdrag för att accelerera hållbarhetsomställningen samt att vi ska sträva efter att vara föregångare för en mer hållbar framtid genom att omvandla vårt erbjudande i linje med de globala utmaningarna och bästa tillgängliga teknik.”

Annual report 2024A · The company itself

“AFRYs lösningar bidrar med värden som exempelvis ökad energieffektivitet, ökad användning av förnybar energi, resurseffektivitet, säkra arbetsplatser, förbättrad hälsa och säkerhet, effektiviserade produktionsprocesser, cirkulära resursflöden, ökad tillgänglighet, ökad säkerhet i trafiken, säkra och inkluderande samhällen samt förbättrad luft- och vattenkvalitet.”

Annual report 2024A · The company itself

“The two existing sites in Tianjin will be consolidated into this new facility, which is built to HydraSpecma’s specifications and will include solar panels and heating pumps to enable zero-emission production in China. The new facility will ensure capacity to support the expected growth in Asia-Pacific.”

Annual report 2025A · The company itself

“HydraSpecma has obtained two patents for cooling solutions, which have attracted interest from both wind turbine and solar panel manufacturers.”

Annual report 2025A · The company itself

“Reaching all-time high renewable electricity share in GPV In GPV, working on deploying renewable energy has been a key priority in recent years, and in 2025, GPV reached an all-time high renewable energy share of 55%.”

Annual report 2025A · The company itself

“In 2025, the renewable electricity and energy share rose significantly to 26% of the total energy and 47% of indirect energy. This was primarily due to the power purchase agreement, which supplies renewable energy certificates that cover parts of the European electricity consumption.”

Annual report 2025A · The company itself

“Lithium is a key component in products and processes used in a variety of applications and industries, which include lithium batteries used in consumer electronics and electric vehicles, power grids and solar panels, high performance greases and specialty glass used in consumer appliances and electronics, among other applications.”

Annual report 2025A · The company itself

“Renewable Energy Standards - Iowa and Wisconsin have renewable energy standards, which establish the minimum amount of energy IPL and WPL must supply from renewable resources. IPL primarily relies upon renewable energy generated from the wind or solar resources it owns and renewable energy acquired under PPAs to meet these requirements.”

Annual report 2025A · The company itself

“Our utility business currently operates wind and solar generating facilities, which generate production tax credits that are eligible to be used to reduce our federal tax obligations. The amount of production tax credits we earn is dependent on the level of electricity output generated by our qualifying generating facilities and sold to an unrelated buyer, and the applicable tax credit rate.”

Annual report 2025A · The company itself

“Alma Media on SBTi-tavoitteidensa saavuttamiseksi sitoutunut lisäämään uusiutuvan energian osuutta sekä omassa toiminnassaan, että arvoketjussaan. Yhtiö varmistaa, että sekä omat että kumppaneiden käyttämät palvelut – mukaan lukien datakeskukset ja pilvipalvelut – perustuvat uusiutuvaan energiaan aina, kun se on mahdollista.”

Annual report 2025A · The company itself

“Inköp av förnybar energi ökade under året, vilket bidrog till lägre koldioxidutsläpp.”

Annual report 2024A · The company itself

“Also, changes to capacity accreditation rules adopted by the MISO could reduce the accredited capacity of renewable generation and battery storage and increase regional capacity prices, potentially requiring additional investment and higher costs to satisfy resource adequacy requirements.”

Annual report 2025A · The company itself

“Energy conservation, energy efficiency, distributed generation, energy storage, technological advances, and other factors could reduce energy demand from our existing customers.”

Annual report 2025A · The company itself

“Smart Energy Plan – Ameren Missouri’s plan to upgrade Missouri’s electric grid through at least 2030. Planned upgrades include investments to improve reliability and accommodate more renewable energy.”

Annual report 2025A · The company itself

“Other technologies, such as light emitting diodes (LEDs), increase the efficiency of electricity and, as a result, lower the demand for it. Changes in regulatory policies and advances in batteries or energy storage, wind turbines and photovoltaic solar cells are reducing costs of new technology to levels that are making them competitive with some central station electricity production and delivery.”

Annual report 2025A · The company itself

“Clean energy related - For 2025, this consists of operating results related to our investments in new clean energy projects, primarily fusion and carbon sequestration projects.”

Annual report 2025A · The company itself

“Market Long-term (5-30 years) Increased prices for Guarantees of Origin The demand for renewable energy instruments like Guarantees of Origin is expected to rise, with prices doubling in the past year and likely to continue increasing. Factors include corporate demand, inflation, reduced hydro generation, and supply shortages due to climate challenges and grid expansion delays: leading to temporary price spikes.”

Annual report 2024A · The company itself

“Energy source Medium-term (3-5 years) Transition to low carbon energy sources Atea is actively pursuing Guarantees of Origin certifications for low-carbon energy procurement and aims to expand renewable electricity production for its own use.”

Annual report 2024A · The company itself

“Atlantic Sapphire sources 45% of the electricity needed from solar power sources.”

Annual report 2024A · The company itself

“Examples of initiatives were the launch of a hybrid generator with built-in solar panel connection, the continued development of the energy-storage offer, and investments in solar energy and energy recovery in the business area’s production facilities.”

Annual report 2024A · The company itself

“For instance, increased renewable energy generation and the surge in production of electrical vehicles present opportunities to provide products to these industries.”

Annual report 2024A · The company itself

“Positiivinen vaikutus tai taloudellinen mahdollisuus - Negatiivinen vaikutus tai taloudellinen riski ATRIA OYJ Tilinpäätös ja toimintakertomus 2025 40 Atrian tilinpäätös ja toimintakertomus 2025 E1 ILMASTONMUUTOKSEEN LIITTYVÄT VAIKUTUKSET, RISKIT JA MAHDOLLISUUDET VAIKUTUKSET YMPÄRISTÖÖN JA/TAI YHTEISKUNTAAN RISKIT JA MAHDOLLISUUDET ATRIALLE STRATEGISET HALLINTAKEINOT Energia + Energiatehokkuuden parantaminen vähentää kasvihuonekaasupäästöjä. Siirtyminen uusiutuviin energialähteisiin, kuten aurinkoja tuulivoimaan, vähentää riippuvuutta fossiilisista polttoaineista ja tukee kestävää kehitystä.”

Annual report 2025A · The company itself

“We continue to invest in new technologies, equipment, and facilities and to expand our capabilities and technology portfolio to meet the challenges of a net-zero future. These efforts include expanding into new energy areas such as geothermal and CCUS, strengthening our digital architecture and addressing key energy market themes.”

Annual report 2025A · The company itself

“We have invested in developing innovative technologies and solutions for clean energy applications, including geothermal, CCUS, hydrogen energy, and other integrated solutions. As the energy transition slows and demand shifts back toward traditional oil and gas applications, the market for our clean energy technologies and services may not develop as anticipated, which could adversely affect our revenue from these segments and the return on our investments in clean energy innovation.”

Annual report 2025A · The company itself

“Lesjöfors produkter är en integrerad del av vindkraftverk och solpaneler.”

Annual report 2024A · The company itself

“BHE and its subsidiaries, also own interests in independent power projects having approximately 6,400 net megawatts of generation capacity that are in service and under construction in California, Texas, Illinois, Nebraska, Montana, New York, Arizona, West Virginia, Minnesota, Kansas, Iowa, Hawaii, Australia and Canada. These independent power projects sell power generated primarily from wind, solar, geothermal and hydro sources under long-term contracts.”

Annual report unknown yearA · The company itself

“At the end of 2023, six of our properties have installed solar panels on the ground, roofs, or facades. At our pilot in Fredrikstad, Norway, a total of 463 mWh was produced in 2023.”

Annual report 2023A · The company itself

“Shifting gear in the energy transition KMC Energy, a KMC Properties subsidiary, offers solutions that secure tenants’ reliable access to renewable energy and contribute to a more stable capacity on the grid, which will benefit local communities. After a successfully complete pilot with one of the tenants from BE Form in 2022, the Kampenveien 5 facility produced 463 079.5 kWh of renewable energy in 2023.”

Annual report 2023A · The company itself

“Mer än 60 % av den globala kopparproduktionen används för att generera eller leda elektricitet. Koppar finns i viktiga elektriska komponenter för förnybar energi, t.ex. turbiner, generatorer, transformatorer, växelriktare och elkablar.”

Annual report 2024A · The company itself

“The Company is well positioned in several growth segments and especially in the renewable energy eco-system. This includes development and production of renewable energy, wind industry services, and renewable energy technology. This unique combination also positions the Company for new strategic opportunities.”

Annual report 2024A · The company itself

“Boozt åtar sig även att öka de aktiva årliga inköpen av förnybar el från 98,2% under räkenskapsåret 2022 till 100% senast räkenskapsåret 2030.”

Annual report 2024A · The company itself

“Installation of solar panels at Agora Bytom can make the mall energy self-sufficient Long Policies related to climate change mitigation and adaptation Act for Sustainable Business Practices statement both address climate change indirectly through a general commitment to protect the environment and reduce negative impacts.”

Annual report 2024A · The company itself

“Våra vanligaste tjänster El Värme och sanitet Ventilation Automation Säkerhet och brandsäkerhet Energilösningar för samhällets omställning Energy Management Fastighetsautomation GreenHub fossilfri service Solpaneler Elbilsladdning Vi erbjuder även Projektledning och design Critical Power Teknisk Facility Management Industrirör Kraft Sprinkler Kyla Lösningar för framtiden Tillsammans med våra kunder skapar vi lösningar nu och för framtiden.”

Annual report 2024A · The company itself

“Brinova bygger över tid värde genom energibesparande åtgärder. Vi ligger i framkant och besitter en betydande kompetens. Under 2024 adderade vi solceller på alla nya projekt och på vissa fastigheter i det befintliga beståndet med en kommande kapacitet om cirka 260 000 kWh. I Brinovas fastighetsbestånd finns totalt sett installerade solceller med en kapacitet om cirka 1 238 000 kWh.”

Annual report 2024A · The company itself

“Aspekter som ökar attraktionen för våra bostadsfastigheter är hållbara val i material och solcellsanläggningar, laddstolpar i anslutning till våra fastigheter, en ökad digitalisering med trygg kommunikation via vår hyresgäst-app, trygg porttelefoni och digitala lås.”

Annual report 2024A · The company itself

“In 2025, we took a significant step forward in our commitment to renewable energy by signing three new power purchase agreements in Sweden, Norway and Finland. While the vast majority of our operations already run on renewable energy through purchased certificates, these agreements will add new renewable capacity to national grids and further support our commitment to sustainability.”

Annual report 2025A · The company itself

“In 2025, we expanded our use of renewable energy through new power purchase agreements (PPAs) in the Nordics, accelerating the transition to green electricity across our production sites.”

Annual report 2025A · The company itself

“Möjlighet till produktion av förnyelsebar energi som leder till utfasning av fossil energi, ökade intäkter, minskad klimatpåverkan och minskade driftkostnader.”

Annual report 2024A · The company itself

“Vi fortsätter arbetet med installation av solceller och batterier på våra fastigheter.”

Annual report 2024A · The company itself

“Solar and Wind Indiana Electric has entered into various PPAs to purchase solar power and wind power to meet its future generation needs as reported in the table below: Power Type Counterparty Location Date in Service/Expected Date in Service Capacity (MW) Term (in Years) Wind NextEra Energy, Inc. Tama County, Iowa 2025 170 27 Solar Origis Knox County, Indiana 2026 150 20 Wind NextEra Energy, Inc.”

Annual report 2025A · The company itself

“On March 7, 2025, SIGECO acquired 100% of the equity interests in Posey Solar, which was constructing a 191 MW solar array in Posey County, Indiana, for approximately $357 million.”

Annual report 2025A · The company itself

“For example, due to shifting market dynamics, changing project considerations such as substantial delays in commercial operation dates (due in part to MISO interconnection delays), cost increases and concerns about customer affordability, Indiana Electric terminated several wind and solar projects in 2025.”

Annual report 2025A · The company itself

“On February 7, 2023, Indiana Electric filed a CPCN with the IURC to approve an amended BTA to purchase the 191 MW Posey Solar project. On September 6, 2023, the IURC issued an order approving the CPCN. On March 7, 2025, SIGECO completed the acquisition of Posey Solar. The Posey Solar project was placed in service in the second quarter of 2025.”

Annual report 2025A · The company itself

“Vid samtalen diskuteras lämpliga åtgärder för att minska klimatavtryck i byggnader, såsom tillstånd för solpaneler, energieffektiviseringar med ledbelysning, fläktsystem för energiåtervinning, laddstolpar vid parkeringar, samt uppgraderingar och renoveringar.”

Annual report 2024A · The company itself

“• Cloudberry’s backlog has increased to 1 239 MW across 33 exclusive projects, up from 625 MW in 2023.”

Annual report 2024A · The company itself

“Cloudberry is a renewable energy company. With the combination of profitability and sustainability as our guiding principle, we live and breathe to develop, own, and operate renewable energy assets in the Nordics.”

Annual report 2024A · The company itself

“We do this by focusing on proven and mature technologies like hydro-, wind-, solar power and energy storage in the Nordics.”

Annual report 2024A · The company itself

“Further, the expansion of Nees Hede Solar (DK-1) from 175 MW to 232 MW, reinforced Cloudberry’s commitment to large-scale solar energy while we are also exploring hybrid possibilities to enhance profitability in the project.”

Annual report 2024A · The company itself

“The Nees Hede solar project in Denmark was optimised and therefore expanded from 175 MW to 232 MW.”

Annual report 2024A · The company itself

“This comprises reported total revenues of NOK 548m (NOK 610m) from sale of power related products, asset management, digital- and consultancy services and other income.”

Annual report 2024A · The company itself

“to 232 MW. The solar project is still fully permitted and hybrid possibilities including battery integration are being explored.”

Annual report 2024A · The company itself

“Our project backlog includes a range of exciting and profitable technologies, notably our planned solar park in Denmark and energy storage systems in Sweden.”

Annual report 2024A · The company itself

“In 2024, Cloudberry, as part of the integration of Captiva, re-named three of its four segments, Projects (previously Development), Commercial (previously Production) and Asset Management (previously Operations), while the Corporate segment name remained unchanged. The scope, revenue and cost streams of the segments are comparable to the previous segments. The Group manages and reports its operations in four operating segments; • Projects is a green-field developer of hydro, wind and solar projects and has a solid track record of organic, in-house developments of wind and hydropower assets in Norway, Sweden and Denmark. • Commercial is an active owner of renewable power assets in the Nordics, and in charge of M&A and partnerships in Cloudberry. • Asset Management operates external customers’ and Cloudberry’s renewable assets.”

Annual report 2024A · The company itself

“The Projects segment is responsible for the development, permitting, procurement, and construction of hydro, wind and solar projects across the regions. The segment has a significant development portfolio with renewable assets in the Nordics.”

Annual report 2024A · The company itself

“Groups are advocating for an ROA-like community solar program that allows third parties to sell directly to customers and offer them a regulated bill credit. If the amount of ROA sales increased, this new ROA‑like community solar program were allowed, or electric generation service in Michigan were further deregulated, it could have a material adverse effect on CMS Energy and Consumers.”

Annual report 2025A · The company itself

“The MPSC, FERC, other regulatory authorities, or other third parties may prohibit, delay, or impair some or all of CMS Energy’s and Consumers’ planned acquisitions or development of owned or purchased electric generation and storage capacity. Consumers’ planned electric generation capacity, including renewable generation or storage projects, may be adversely impacted by interconnection delays at MISO or in the footprints of other regional transmission organizations, and/or by interconnection costs.”

Annual report 2025A · The company itself

“Consumers’ planned investments include the construction or acquisition of electric generation, electric and gas infrastructure, conversions and expansions, environmental controls, electric grid automation technologies, and other electric and gas investments to upgrade delivery systems, as well as decommissioning of older facilities.”

Annual report 2025A · The company itself

“Corem tillskapar även el och värme genom egna solcellsanläggningar och bergvärme installationer.”

Annual report 2024A · The company itself

“HSG is a leading provider of high-purity polysilicon products for the solar power and electronics industries. HSG operates in the solar power market, as polysilicon is needed in the manufacturing process to produce sustainable solar power cell, panels and arrays, and the electronics markets, as polysilicon is used to create fabricated wafers and integrated circuit chips used by leading semiconductor manufacturers.”

Annual report 2025A · The company itself

“In 2025, we thus reached an important emissions milestone: We used 53% renewable electricity, thus delivering on our target of 50% renewable electricity in own operations by 2025.”

Annual report 2025A · The company itself

“We have also entered into power purchase agreements with contract terms ranging from 5-20 years. These agreements require us to purchase renewable energy and/or environmental attribute certificates from producers at fixed prices over the terms of the contracts, subject to certain adjustments. In the event that the market price for energy and/or environmental attribute certificates decreases, we may be required to pay more than we would otherwise if we were to purchase them on the open market, which could adversely affect our results of operations.”

Annual report 2025A · The company itself

“Elektrifiering, förnybar energi och mobila energilösningar Dometic fortsätter att fokusera på att anpassa och bredda produktutbudet för att främja elektrifiering och ökad användning av förnybara energikällor. Dometics sortiment av kompressorkylskåp och det ytterligare breddade utbudet av inverterteknik i våra luftkonditioneringsenheter främjar elektrifieringen globalt.”

Annual report 2024A · The company itself

“Dometic fortsätter att minska miljöpåverkan inom hela verksamheten, inklusive leve - rantörskedjan. Resurseffektivitet och förnybar energi utgör hörnstenarna i koncernens klimatmål.”

Annual report 2024A · The company itself

“Vehicles Asia Pacific ett solcellssystem under det fjärde kvartalet som förväntas generera cirka 20 procent av anläggningens elförbrukning. Dessa satsningar stödjer Dometics pågående arbete för att genomföra bolagets färdplan för över - gång till förnybar energi.”

Annual report 2024A · The company itself

“Under 2024 bidrog Land Vehicles APAC till övergången till förnybar energi genom installation av solcellssystem. Jämfört med året innan har ännu en tillverkningsanläggning i Kina nu installerat takmon - terade solpaneler som genererar ungefär 20 procent av anläggningens elförbrukning.”

Annual report 2024A · The company itself

“Vid tillverkningsanläggningen i Texas förhandlades ett solenergikontrakt fram.”

Annual report 2024A · The company itself

“Detta innefattar produkter för att tillhandahålla för - nybar energi genom solpaneler, i kombination med produkter som används för energiomvandling och energilagring. Arbetet intensifieras nu för att anpassa Dometics hela produktportfölj till vårt utbud av mobila energilösningar, i syfte att kunna tillhandahålla en ännu bättre och mer hållbar upplevelse för konsumenten.”

Annual report 2024A · The company itself

“Den breda produktportföljen innehåller produkter för att tillhandahålla förnybar energi genom solpaneler, i kombination med produkter som används för energi - omvandling och energilagring.”

Annual report 2024A · The company itself

“Recent legislative and regulatory changes that are impacting or could impact the Companies include legislation enacted in Virginia in April 2023, the IRA, the VCEA, the 2017 Tax Reform Act, the OBBBA and tariffs imposed on various components required for construction of the CVOW Commercial Project or imported solar panels by the U.S. government in 2025 and 2018, respectively.”

Annual report 2025A · The company itself

“For example, certain stakeholder groups oppose solar farms due to the increasing quantities of land tracts required for these facilities.”

Annual report 2025A · The company itself

“In addition, sustained changes in weather patterns could result in decreased output at the Companies’ renewable generation facilities.”

Annual report 2025A · The company itself

“However, advances in distributed generation technologies, such as solar cells, gas microturbines, battery storage and fuel cells, may make these alternative generation methods competitive with large-scale utility generation, and change how customers acquire or use the Companies’ services.”

Annual report 2025A · The company itself

“Alternatively, reduced energy demand or significantly slowed growth in demand due to customer adoption of energy efficient technology, conservation, distributed generation, regional economic conditions or the impact of additional compliance obligations, unless substantially offset through regulatory cost allocations, could adversely impact the value of the Companies’ business activities.”

Annual report 2025A · The company itself

“Renewable generation facilities are expected to include significant investments in utility-scale solar and the CVOW Commercial Project.”

Annual report 2025A · The company itself

“Dominion Energy is one of the nation’s leading developers and operators of regulated offshore wind and solar power and the largest producer of carbon-free electricity in New England.”

Annual report 2025A · The company itself

“To achieve Dominion Energy’s commitment to net zero emissions by 2050 and comply with the requirements of the VCEA and projected demand while maintaining reliability, the Companies are currently simultaneously developing or constructing several electric generation projects, including subsequent license renewal projects at nuclear facilities in Virginia and South Carolina, the CVOW Commercial Project, the Chesterfield Energy Reliability Center, several electric transmission projects and various solar projects.”

Annual report 2025A · The company itself

“DOVRE GROUP PLC ANNUAL REPORT 2025 DOVRE GROUP IN BRIEF We are the preferred partner for the development and construction of utility-scale renewable energy. Our project management solutions support efficient cost control in complex projects. Together with our clients, we actively build green energy and promote an environmentally and socially sustainable future.”

Annual report 2025A · The company itself

“The business was based on the construction of utility-scale wind and solar parks, battery-based energy storage systems, and heat recovery systems supporting energy efficiency.”

Annual report 2025A · The company itself

“Dovre’s subsidiary Suvic Oy Receives Notice to Proceed and Begins Construction of a 100 MWp Solar Park in Eurajoki February 26, 2025 Dovre announced that its subsidiary Suvic Oy had received notice to proceed and would commence construction works in accordance with the EPC contract announced on January 8, 2025, for the construction of a 100 MWp solar park in Eurajoki, specifically in Luvia. The value of the contract is approximately EUR 55 million.”

Annual report 2025A · The company itself

“The core of the business area consisted of the Suvic subgroup, which was responsible for the execution of renewable energy projects. During the year, significant financial and operational challenges encountered in Suvic’s projects materially weakened the financial performance of the business area. Suvic Oy was declared bankrupt by a decision of the Oulu District Court on 7 January 2026.”

Annual report 2025A · The company itself

“As a result of the bankruptcy, Dovre Group lost control over the Suvic subgroup, and its operations were transferred to the administration of the bankruptcy estate.”

Annual report 2025A · The company itself

“Following the bankruptcy of Suvic Oy, the Group’s project operations related to renewable energy construction have ceased.”

Annual report 2025A · The company itself

“Market growth is expected to be driven by major shifts in population demographics; improving socioeconomic status in emerging geographic regions; consumer and brand owner demand for increased functionality including sustainable offerings through lower-carbon and circular solutions; global efforts to reduce food waste; growth in telecommunications networks; global development of electrical transmission and distribution infrastructure; and renewable energy applications such as wind and solar (photovoltaic) power.”

Annual report 2025A · The company itself

“Federal and state regulations, laws, commercialization and reduction of costs and other efforts designed to promote and expand the use of EE measures and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could reduce recovery of fixed costs in Duke Energy service territories or result in customers leaving the electric distribution system or an increase in customer net energy metering, which allows customers with private solar to receive bill credits for surplus power up to the full retail credit amount.”

Annual report 2025A · The company itself

“Advances in distributed generation technologies that produce power, including fuel cells, microturbines, wind turbines and solar cells, may reduce the cost of alternative methods of producing power to a level competitive with central power station electric production utilized by the Duke Energy Registrants.”

Annual report 2025A · The company itself

“In 2025, eBay sourced 100% of its electricity consumption for eBay-controlled offices and data centers from renewable sources for the second straight year. eBay is committed to continuing this trend by assessing our future energy demand and sourcing renewables to meet any planned growth. eBay has also set emissions reduction targets, including near- and long-term science-based targets, and a 2045 net-zero target that have been validated by the Science Based Targets initiative.”

Annual report 2025A · The company itself

“Elkem is well-positioned to meet these challenges, thanks to its high proportion of renewable energy and targeted climate ambitions. functions.”

Annual report 2024A · The company itself

“The increasing demand for low-carbon technologies like solar panels and batteries is expected to drive growth in Elkem's product segments.”

Annual report 2024A · The company itself

“Products and services Technology High Medium Medium Low Short Long Increased demand for renewable power, power storage, electrific tion and improvement of electrical infrastructure presents an opportunity for Elkem to expand in these sectors.”

Annual report 2024A · The company itself

“Nordic Elmera Group has a subsidiary called Switch Nordic Green AB. The company sells renewable energy and electricity contracts with guarantees of origin (GoOs) in the con- sumer and business markets under the brand name Nordic Green Energy.”

Annual report 2024A · The company itself

“On the other hand, because certain of our construction and service offerings are designed to improve energy efficiency in our clients’ operations, or to assist in the generation of new sources of renewable energy, such as wind, solar, and geothermal generation, decreases in the costs of traditional energy sources such as electricity, oil, and natural gas, including as a result of recessionary pressure and reduced demand, may lower our customers’ demand for efficiency improvements and alternative energy sources, which could have an adverse effect on our financial position, results of operations, and cash flows.”

Annual report 2025A · The company itself

“Strateginen fokusointi päätökseen Myimme tuuli- ja aurinkovoiman hankekehitysliiketoiminnan Fortumille, meriteollisuusyksikön Davielle ja ajoimme päästöttömän liikenteen ratkaisut alas.”

Annual report 2025A · The company itself

“Power Power-liiketoimintayksikkö tarjoaa ratkaisuja yhteiskunnan sähköistymiseen ja uusiutuvaan energiaan asiakkailleen, joita ovat energiantuotannossa tai -siirrossa toimivat yritykset sekä datakeskukset. Liiketoimintayksikön projekteja ja palveluita ovat voimansiirtoverkkojen, sähköasemien, sähkövarastojen sekä tuulivoima- ja aurinkopuistojen suunnittelu, rakentaminen ja kunnossapito.”

Annual report 2025A · The company itself

“Power-liiketoimintayksikkö tarjoaa ratkaisuja yhteiskunnan sähköistymiseen ja uusiutuvaan energiaan asiakkailleen, jotka toimivat energiantuotannossa tai -siirrossa sekä datakeskuksissa. Liiketoimintayksikön projekteja ja palveluita ovat voimansiirtoverkkojen, sähköasemien, sähkövarastojen sekä tuulivoima- ja aurinkopuistojen suunnittelu, rakentaminen ja kunnossapito.”

Annual report 2025A · The company itself

“Enersensen toiminta tuottaa asiakkaille vihreään energiasiirtymään, tietoliikenneyhteyksiin ja yhteiskunnan infrastruktuuriin liittyviä tuotteita ja palveluita.”

Annual report 2025A · The company itself

“Enersense on laajalti mukana erilaisissa vihreän energiantuotannon hankkeissa suunnittelemassa, rakentamassa, käyttämässä ja kunnossapitämässä. Näitä ovat muun muassa sähköverkot, sähköasemat, vihreän vedyn laitokset sekä vesi-, tuuli- ja aurinkovoimalaitokset.”

Annual report 2025A · The company itself

“Enersensen tuuli- ja aurinkovoiman hankekehitysliiketoiminnan kauppa toteutui 26.2.2025 Joupinkangas Wind Farm Oy (tytäryhtiöineen) osakkeiden myynnillä. Hankekehitysliiketoiminta oli osa Power-liiketoimintayksikköä. Kaupan toteutumisen yhteydessä Fortum maksoi kiinteän velattoman käteishinnan 9,4 miljoonaa euroa. Samalla Enersense kirjasi 22,3 miljoonan euron voiton.”

Annual report 2025A · The company itself

“Our strategy focuses on significant revenue growth while maintaining control over margins and operating expenditures. We anticipate this growth will be driven by the adoption of our new facade and red solar solutions.”

Annual report 2025A · The company itself

“At Ennogie, the ambition is to lead the way toward a future where renewable energy in the built environment is the global norm.”

Annual report 2025A · The company itself

“Since manufacturing and selling its first solar roofs in 2017, Ennogie has seen production and sales accelerate significantly. In 2025, the company further expanded its product portfolio by introducing a high-performance solar facade solution and a red roof. Today, Ennogie employs approximately 30 professionals, maintaining production facilities in Denmark and sales operations in both Denmark and Germany.”

Annual report 2025A · The company itself

“Ennogie’s building-integrated solar roofs and facades provide a robust, aesthetic whole that replaces traditional roofing and cladding while serving as the building’s primary climate shell. Ennogie transforms previously unproductive building surfaces into high-value assets that generate sustainable, self-produced electricity.”

Annual report 2025A · The company itself

“The changes in law and federal energy policy reflected in the OBBBA could have a material effect on Entergy’s current and future resource planning, including particularly solar and wind resources, and on its results of operations, cash flows, or financial condition. Entergy may not be able to realize the anticipated benefits of federal tax credits for certain of its planned solar and battery facilities to the extent that these projects do not meet the safe harbor requirements set forth in the OBBBA.”

Annual report 2025A · The company itself

“Successful completion of these projects may be further influenced by changes in law or regulation, such as environmental compliance requirements or MISO tariff rules and processes; trade-related government actions, such as direct and indirect trade and tariff actions, including those associated with imported solar panels; as well as supply chain delays or disruptions, workforce challenges, and other events beyond the control of these Utility operating companies.”

Annual report 2025A · The company itself

“These events may relate to the actual siting and construction process, such as facing public opposition; delays in obtaining permits; challenges in securing sufficient land for the siting of solar panels, power generation facilities, and large transmission projects; shortages in materials and qualified labor; suppliers and contractors not performing as expected or required under their contracts and/or experiencing financial problems that inhibit their ability to fulfill their obligations under contracts; supply chain delays or disruptions; and changes in the scope and timing of projects.”

Annual report 2025A · The company itself

“In general, solar and wind facilities must be placed in service by December 31, 2027 to qualify for the tax credits, unless construction begins by July 3, 2026, and certain safe harbor requirements are met. In addition, the OBBBA adopted new foreign entity of concern (FEOC) rules designed to deny clean energy tax incentives to all clean energy projects beginning construction after December 31, 2025 that use equipment beyond statutory guidelines from prohibited foreign entities (entities with ties to China, Russia, Iran, or North Korea).”

Annual report 2025A · The company itself

“The APSC has approved offerings of 280 MW of solar capacity to be made available under this tariff. In June 2023 the APSC approved Entergy Arkansas’s Go ZERO tariff, which provides participating industrial and commercial customers the opportunity to choose from a number of clean energy options to help them achieve their sustainability goals. The APSC has approved offerings of 240 MW to be made available under this tariff.”

Annual report 2025A · The company itself

“In 2023, Entergy Louisiana made a filing to seek approval from the LPSC for an alternative to the requests for proposals (RFP) process that would enable the acquisition of up to 3 GW of solar resources on a faster timeline than the then-current RFP and certification processes could allow. The initial phase of the filing established the need for the acquisition of additional resources and the need for an alternative to the RFP process. The second phase of the filing contained the details of the proposal for the alternative competitive procurement process and the information necessary to support certification.”

Annual report 2025A · The company itself

“The Utility operating companies’ long-term resource strategy (Portfolio Transformation Strategy) calls for the bulk of capacity needs to be met through long-term resources, whether owned or contracted. Over the past decade, the Portfolio Transformation Strategy has resulted in the addition of about 9,430 MW of new long-term resources and the deactivation of about 4,004 MW of legacy generation.”

Annual report 2025A · The company itself

“Other In January 2022, Entergy Texas filed an application requesting approval to implement two voluntary renewable option tariffs, Rider Small Volume Renewable Option (Rider SVRO) and Rider Large Volume Renewable Option (Rider LVRO). Both tariffs are voluntary offerings that give customers the ability to match some or all of their monthly electricity usage with renewable energy credits that are purchased by Entergy Texas and retired on the customer’s behalf.”

Annual report 2025A · The company itself

“As part of its rate case application filed with the PUCT in July 2022, Entergy Texas requested approval of Schedule Green Future Option (Schedule GFO), an asset-backed green tariff that would allow Entergy Texas’s customers to voluntarily subscribe to a portion of the underlying solar facility’s capacity in exchange for energy credits. In August 2023 the PUCT approved an unopposed settlement in the proceeding that included approval of Schedule GFO.”

Annual report 2025A · The company itself

“The RFP process has resulted in selections or acquisitions, including, among other things: •In June 2020, Entergy Arkansas signed an agreement for the purchase of an approximately 100 MW to-be-constructed solar photovoltaic energy facility, Walnut Bend Solar facility, located in Lee County, Arkansas. In July 2021 the APSC issued an order approving the acquisition of the Walnut Bend Solar facility.”

Annual report 2025A · The company itself

“The Walnut Bend Solar facility commenced commercial operation in September 2024; •In September 2020, Entergy Arkansas signed an agreement for the purchase of an approximately 180 MW to-be-constructed solar photovoltaic energy facility, West Memphis Solar facility, located in Crittenden County, Arkansas. In October 2021 the APSC issued an order approving the acquisition of the West Memphis Solar facility.”

Annual report 2025A · The company itself

“The facility is expected to be in service by mid-2026; •In August 2022, Entergy Arkansas signed an agreement for the purchase of an approximately 250 MW to-be-constructed solar photovoltaic energy facility, Driver Solar facility, located near Osceola, Arkansas. Also in August 2022, Entergy Arkansas received regulatory approval from the APSC for acquisition of the Driver Solar facility.”

Annual report 2025A · The company itself

“The Driver Solar facility commenced commercial operation in December 2024; •Entergy Louisiana began construction on the 49 MW Sterlington solar project in December 2024, located in Sterlington, Louisiana. The facility achieved commercial operation in January 2026; •In May 2023, Entergy Mississippi selected the 80 MW Delta Solar facility, to be located in Bolivar County, Mississippi, out of the 2022 Entergy Mississippi fall renewable RFP.”

Annual report 2025A · The company itself

“Entergy Louisiana, as successor in interest to Entergy Gulf States Louisiana, now holds the agreement with Agrilectric; •Entergy Mississippi’s cost-based purchase, beginning in January 2013, of 90 MW from Entergy Arkansas’s share of Grand Gulf. Cost recovery for the 90 MW was approved by the MPSC in January 2013; •In April 2015, Entergy Arkansas and Stuttgart Solar, LLC executed a 20-year agreement for 81 MW from a solar photovoltaic electric generation facility located near Stuttgart, Arkansas.”

Annual report 2025A · The company itself

“The transaction received regulatory approval and began in June 2018; •In June 2017, Entergy Arkansas and Chicot Solar, LLC executed a 20-year agreement for 100 MW from a to-be-constructed solar photovoltaic electric generating facility located in Chicot County, Arkansas.”

Annual report 2025A · The company itself

“The transaction received regulatory approval and the PPA began in November 2020; •In February 2018, Entergy Louisiana and LA3 West Baton Rouge, LLC (Capital Region Solar project) executed a 20-year agreement for 50 MW from a to-be-constructed solar photovoltaic electric generating facility located in West Baton Rouge Parish, Louisiana. The transaction received regulatory approval in February 2019 and the PPA began in October 2020; •In July 2018, Entergy New Orleans and St. James Solar, LLC executed a 20-year agreement for 20 MW from a to-be-constructed solar photovoltaic electric generating facility located in St. James Parish, Louisiana.”

Annual report 2025A · The company itself

“The transaction received regulatory approval in July 2019 and achieved commercial operation in November 2022; •In August 2020, Entergy Texas and Umbriel Solar, LLC executed a 20-year agreement for 150 MW from a to-be-constructed solar photovoltaic electric generating facility located in Polk County, Texas. The facility achieved commercial operation in November 2023; •In June 2021, Entergy Louisiana and Sunlight Road Solar, LLC executed a 20-year agreement for 50 MW from a to-be-constructed solar photovoltaic electric generating facility located in Washington Parish, Louisiana.”

Annual report 2025A · The company itself

“The facility achieved commercial operation in November 2024 and the PPA delivery term began in December 2024; •In October 2022, Entergy Mississippi and Wildwood Solar, LLC executed a 20-year PPA for approximately 100 MW from a to-be-constructed solar photovoltaic energy facility located in Tallahatchie County, Mississippi. In August 2023 the MPSC approved the PPA, and the facility achieved commercial operation in December 2025; •In October 2022, Entergy Mississippi and Greer Solar, LLC executed a 20-year PPA for approximately 170 MW from a to-be-constructed solar photovoltaic energy facility located in Washington County, Mississippi.”

Annual report 2025A · The company itself

“In September 2023 the APSC approved the PPA, and the facility achieved commercial operation in August 2025; •In October 2022, Entergy Arkansas and Forgeview Solar, LLC executed a 15-year PPA for approximately 200 MW from a to-be-constructed solar photovoltaic energy facility located in Mississippi County, Arkansas. In September 2023 the APSC approved the PPA, and the facility achieved commercial operation in December 2025; and •In October 2023, Entergy Louisiana and Mondu Solar, LLC executed a 20-year PPA for approximately 100 MW from a to-be-constructed solar photovoltaic energy facility located in Point Coupee Parish, Louisiana.”

Annual report 2025A · The company itself

“In September 2024 the LPSC approved the PPA, and the facility is expected to reach commercial operation as early as June 2026.”

Annual report 2025A · The company itself

“In December 2025, Entergy Arkansas and Big Island Solar 1, LLC executed a 20-year PPA for approximately 440 MW from a to-be-constructed solar photovoltaic energy facility located in Mississippi County, Arkansas. In January 2026, Entergy Arkansas filed an application with the APSC seeking regulatory approval for the resource and requested a decision by July 2026.”

Annual report 2025A · The company itself

“In August 2024, Entergy Services, on behalf of Entergy Louisiana, issued the 3 GW Alternative Market-based Mechanism Process Solar RFP which solicits up to 3,000 MW of solar photovoltaic resources across four procurement windows. Entergy Louisiana selected a combination of PPA, build-own-transfer, and self-build alternative resources.”

Annual report 2025A · The company itself

“In May 2025, Entergy Services, on behalf of Entergy Arkansas, issued a renewable and storage RFP which solicited up to 1,000 MW of generation. Entergy Arkansas selected a combination of PPA, build-own-transfer, and self-build alternative resources in November 2025.”

Annual report 2025A · The company itself

“The facility has been in operation since January 2010; •In November 2021, Entergy Louisiana and Elizabeth Solar, LLC executed a 20-year PPA for approximately 125 MW from a to-be-constructed solar photovoltaic energy facility located in Allen Parish, Louisiana. In September 2022 the LPSC voted to approve this project and in September 2023, Entergy Louisiana reported to the LPSC that it had entered into amended agreements related to the Elizabeth Solar facility.”

Annual report 2025A · The company itself

“This agreement was followed by a similar agreement between the parties in November 2024 for a minimum of 350 MW of MISO Zone 10, ZRCs to be transferred over the 2026-2027, 2027-2028, and 2028-2029 planning years.”

Annual report 2025A · The company itself

“A certification filing was made with the LPSC in December 2025; and •In November 2025, Entergy Texas and Bayou Galion Solar Project, LLC executed a six-year ZRC Purchase and Sale Agreement for the purchase of all accredited ZRCs from the Bayou Galion Solar Facility with an expected annual average of approximately 19 MW of MISO Zone 9 ZRCs.”

Annual report 2025A · The company itself

“In September 2025, Entergy Arkansas filed an application with the APSC seeking a certificate of environmental compatibility and public need for the construction and operation of the Arkansas Cypress Solar facility, a planned 600 MW solar photovoltaic array with a 350 MW battery energy storage system and associated transmission facilities interconnecting at Entergy Arkansas’s White Bluff substation. The estimated cost of the project is $1,602 million.”

Annual report 2025A · The company itself

“Bogalusa West Solar In July 2025, Entergy Louisiana filed an application seeking LPSC approval and certification of the Bogalusa West Solar facility, a 200 MW single axis tracking solar photovoltaic power facility in Washington Parish, Louisiana. In October 2025 the LPSC voted to grant Entergy Louisiana’s application and approve the Bogalusa West Solar facility.”

Annual report 2025A · The company itself

“Cypress Harvest Solar In February 2026, Entergy Louisiana filed an application seeking LPSC approval and certification for the Cypress Harvest Solar facility, a 200 MW solar facility to be located in Iberville Parish.”

Annual report 2025A · The company itself

“Delta Solar In December 2024 the Bolivar County Board of Supervisors approved Entergy Mississippi’s plans to construct, own, and operate the Delta Solar facility, an 80 MW solar facility to be located in Bolivar County, Mississippi. The Delta Solar facility is estimated to cost $157.2 million, inclusive of estimated transmission interconnection costs.”

Annual report 2025A · The company itself

“Penton Solar In May 2025 the DeSoto County Board of Supervisors approved Entergy Mississippi’s plans to construct, own, and operate the Penton Solar facility, a 190 MW solar facility to be located in DeSoto County, Mississippi. The Penton Solar facility is estimated to cost $327.2 million, inclusive of estimated transmission interconnection and upgrade costs.”

Annual report 2025A · The company itself

“In December 2025, Entergy Louisiana filed an application with the LPSC seeking approval and certification to construct the Segno Solar facility and Votaw Solar facility.”

Annual report 2025A · The company itself

“The Utility has a diverse power generation portfolio including nuclear, hydroelectric, solar, and highly efficient natural gas.”

Annual report 2025A · The company itself

“Entergy’s utility business plan over the next several years includes the construction and/or purchase of several natural gas plants and solar facilities.”

Annual report 2025A · The company itself

“Subject to any pending regulatory approvals, certain Utility operating companies are making or are planning to make significant infrastructure investments in new solar projects, natural gas power plants, and other transmission and generation assets to power new large-scale data centers.”

Annual report 2025A · The company itself

“Entra aims to improve energy efficiency and increase the use of renewable energy in its property portfolio. Transition plan for climate change mitigation (Roadmap to net-zero) Entra has through its commitment to the Science Based Targets Initiative committed to reduce the company’s emissions in alignment with the Paris Agreement.”

Annual report 2024A · The company itself

“EOG also faces competition from alternative energy sources, such as renewable energy sources.”

Annual report 2025A · The company itself

“Exempelvis kan portföljbolag bli mer klimatresilienta och minska sina växthusgasutsläpp genom att ställa om till förnybar energi, förbättra driftseffektiviteten, utveckla produkter och tjänster med låga koldioxidutsläpp och implementera robust klimatstyrning i ledningsgrupper och styrelser.”

Annual report 2024A · The company itself

“Transaktionen är ett viktigt steg i EQT:s engagemang för att fortsätta driva energiomställningen. OX2 är verksamt inom både land- och havsbaserad vindkraft, solenergi och energilagring, med en stark närvaro i 11 europeiska marknader, samt nyligen även i Australien.”

Annual report 2024A · The company itself

“Further, natural gas as a fuel competes with other forms of energy available to end-users, including coal, liquid fuels and, increasingly, renewable and alternative energy. Increases, whether driven by legislation, regulation or consumer preferences, in the availability and demand for renewable and alternative energy at the expense of natural gas (or increases in the demand for other sources of energy relative to natural gas based on price and other factors) could adversely affect the customers of our midstream services and lead to a reduction in demand for our natural gas gathering, transmission and storage services.”

Annual report unknown yearA · The company itself

“We invest in energy efficiency and procure renewable energy to reduce our GHG emissions and maintain a competitive edge in our industry.”

Annual report 2025A · The company itself

“Tilgangen på ny sol- og vindkraftkapasitet, i tillegg til lavere gasspriser, høy fyllingsgrad i vannkraftmagasinene og god tilgang på kjernekraft bidro til å senke prisene.”

Annual report 2024A · The company itself

“Produksjonen fra fossile brennstoffer i de ovennevnte markedene gikk ned med 60 TWh, eller 14 % sammenlignet med året før, mens sol- og vindkraftproduksjonen kom opp i 531 TWh, som er 3 % høyere enn i 2023.”

Annual report 2024A · The company itself

“Den økende andelen fornybar energi, særlig solkraft, har ført til større volatilitet i markedet, og en økning i antall timer med negative priser på tvers av alle markedene i Europa, inkludert Norden, der Finland satte rekord med 724 timer med negativ pris.”

Annual report 2024A · The company itself

“Vesentlig finansiell risiko og mulighet: Verdi knyttet til utvikling av fornybar- og lavkarbonverdikjeder Mange usikre faktorer påvirker vår evne til å få tilgang til og utvikle attraktive muligheter innenfor fornybar energi og lavkarbonløsninger med en solid kontantstrøm og lønnsom vekst over tid. Finansielle muligheter kan oppstå fra utvikling av politikk og politiske rammeverk, økt etterspørsel fra forbrukere, utbygging av infrastruktur og styrket leverandørkjede samt teknologi.”

Annual report 2024A · The company itself

“Redegjørelse for hvordan omstillingsplanen er integrert i og tilpasset den overordnede forretningsstrategien og finansiell planlegging Equinors omstillingsplan er godt integrert i forretningsstrategien vår: Optimalisert olje- og gassportefølje, lønnsom vekst innen fornybar energi og nye markedsmuligheter innen lavkarbonløsninger.”

Annual report 2024A · The company itself

“Veksten i porteføljen av fornybar energi bidro til en økning i den samlede kraftproduksjonen sammenlignet med 2023. Tilgangen av landbaserte kraftverk i Brasil og Polen i løpet av 2023, og oppstarten av solenergianlegget Mendubim Complex of solar plants i 2024, bidro til en økning på 51 % i fornybar kraftproduksjon, sammenlignet med 2023.”

Annual report 2024A · The company itself

“Kestävät suunnitteluratkaisut ja tekninen tuki uusiutuvalle energialle, älykkäille sähköverkoille ja tehokkuuden optimoinnille.”

Annual report 2025A · The company itself

“Furthermore, solar photovoltaic systems were expanded at the head office and remote operational monitoring of energy systems were implemented in an increased number of stores. The energy efficiency activities outlined apply exclusively to Europris, however, the replacement of light bulbs with LEDs also extends to the Swedish segment.”

Annual report 2024A · The company itself

“Additionally, the Evergy Companies have been increasing their renewable resources and expect to continue to add renewable capacity in the future. The production of energy from wind and solar facilities depends heavily on suitable weather conditions, which are variable. When wind or solar conditions are unfavorable or below estimates, electricity production can be substantially below expectations.”

Annual report 2025A · The company itself

“The Evergy Companies' strategic plan includes adding a significant amount of natural gas and renewable generation. Transmission constraints and delays in the transmission planning and construction processes could impair the ability of the Evergy Companies to sell and transmit electricity generated by these generation facilities, which could have an adverse impact on the results of operations, financial position and cash flows of the Evergy Companies.”

Annual report 2025A · The company itself

“Fuel Type Estimated 2026 MW Capacity Percent of Total Capacity Coal 5,930 37 % Wind(a) 4,525 29 Natural gas and oil 4,229 27 Uranium 1,106 7 Solar and landfill gas 22 — Total capacity 15,812 100 % (a) MWs are based on nameplate capacity of the wind facility.”

Annual report 2025A · The company itself

“Renewable energy and energy efficiency In 2025, F-Secure’s headquarters in Helsinki moved to new office spaces. In the process, renewable energy was considered, and the electricity used in the new Helsinki office is 100% renewable.”

Annual report 2025A · The company itself

“We have installed on-site solar systems at 28 of our properties with a capacity of 15.3 MW.”

Annual report 2025A · The company itself

“FedEx is actively investing in renewable energy through a diversified strategy that includes on-site solar, off-site generation, utility partnerships, and exploring virtual power purchase agreements and options for energy attribute certificates. We are executing a portfolio-based energy strategy to increase renewable electricity generation and procurement across our facilities, while building the foundation for long-term electrification and grid resilience.”

Annual report 2026A · The company itself

“In 2025 we sourced 96.7 GWh of renewable energy and 37 facilities generated on- or off-site solar energy, up from 34 in the prior year.”

Annual report 2026A · The company itself

“Additionally, on October 1, 2025, MP and PE filed their integrated resource plan with the WVPSC proposing, among other things, the addition of 70 MWs of solar generation by 2028, and 1,200 MWs of natural gas combined cycle generation by 2031, which are expected to require an estimated capital investment of approximately $2.5 billion, as detailed in the filing.”

Annual report 2025A · The company itself

“To ensure that MP and PE can meet their PJM adequacy requirements, the plan proposes, among other things, near-term market capacity purchases, and the addition of 70 MWs of solar generation by 2028 and 1,200 MWs of natural gas combined cycle generation by 2031.”

Annual report 2025A · The company itself

“The Integrated segment distributes electricity to approximately 2 million customers in New Jersey, West Virginia and Maryland across its distribution footprint; provides transmission infrastructure in New Jersey, West Virginia, Maryland and Virginia to transmit electricity and operates 3,610 MWs of regulated generation capacity located primarily in West Virginia and Virginia, which includes three solar generation sites, representing 30 MWs of generation capacity.”

Annual report 2025A · The company itself

“MP owns or contractually controls 3,610 MWs of generation capacity that is supplied to its electric utility business, including 30 MWs of Solar generation and 487 MWs of pumped-storage hydroelectric generation from its 16.25% undivided interest in the Bath County facility in Virginia through its wholly owned subsidiary AGC.”

Annual report 2025A · The company itself

“De sidste tre år har vi investeret i solpaneler.”

Annual report 2025A · The company itself

“Energiforbrug er en stor kilde til udledninger i produktionen. De sidste tre år har vi investeret i solpaneler. I 2025 kunne vi dække 8% af elektricitetsforbruget med solenergi.”

Annual report 2025A · The company itself

“Når leverandører investerer i vedvarende energi og bevæger sig væk fra fossile energikilder, reduceres emissionerne i den del af værdikæden, som koncernen er afhængige af. Flügger arbejder aktivt med at fremme transparens omkring energikilder og samarbejde med leverandører, der dokumenterer konkrete tiltag for deres energiomstilling.”

Annual report 2026A · The company itself

“Vuonna 2025 laajensimme myös uusiutuvan energian hankekantaamme kahdella merkittävällä maatuulivoimahankinnalla Suomessa. Hankimme Enersenseltä 2,6 GW:n ja ABO Energyltä 4,4 GW:n kehitysportfoliot, joiden myötä meillä on Pohjoismaissa lupakäsittelyssä noin 8 GW maatuuli- ja aurinkovoimaprojekteja ja lisää hankkeita varhaisessa kehitysvaiheessa.”

Annual report 2025A · The company itself

“Uutta vähähiilistä sähköntuotantokapasiteettia Rakennusvalmiiden maatuuli- ja aurinkovoimahankkeiden (800 MW) kehittäminen: Fortum kehittää rakennuspaikkoja maatuulivoima- ja aurinkovoimahankkeille Pohjoismaissa. Esimerkiksi vuonna 2025 Fortum hankki ABO Energyn Suomen maatuulivoiman projektikehitysportfolion noin 65 miljoonalla eurolla (ml. lisäkauppahinta), mikä toi noin 4,4 GW eri kehitysvaiheissa olevia hankkeita yhtiön hankesalkkuun. Lisäksi Fortum osti Enersenseltä noin 16 miljoonalla eurolla (ml. lisäkauppahinta) uusiutuvan energian 2,6 GW projektihankekehitysportfolion.”

Annual report 2025A · The company itself

“Generation-segmentti vastaa Fortumin sähköntuotannosta pääasiassa Pohjoismaissa. Segmenttiin kuuluvat vähäpäästöinen vesi-, ydin-, tuuli- ja aurinkovoimatuotanto sekä kaukolämpöja kaukokylmäliiketoiminta sekä hiilidioksidipäästöjen vähentäminen lämpöliiketoiminnassa.”

Annual report 2025A · The company itself

“Key uncertainties include the level and timing of government subsidies and credits (including the implementation of U.S. and global policies), regulatory and permit approval timeframes, level of price competition among manufacturers, competition from solar and other technologies, deprioritization of renewables, the pace of grid modernization needed to maintain reliability with higher renewables penetration, and industrywide pressure on profitability.”

Annual report 2025A · The company itself

“o Increasing deployment of intermittent renewable generation sources coupled with accelerating electricity demand trends driving supply/demand imbalances for utilities and grid operators. ● Higher power prices driving the need for energy management solutions: o Electrification trends causing power demand to exceed supply, driving up power prices. o Investment required to upgrade grid infrastructure and transition to renewable power sources, pushing prices higher. o Higher power prices result in shorter paybacks for solar & storage systems. ● Artificial intelligence adoption accelerating, creating a large market opportunity for backup power: o Significant power requirements for the buildout of data centers to enable AI adoption could drive further grid instability and higher power prices. o Massive capital investment into hyperscale and edge data centers has created a very large market for back-up power that is supply-constrained, providing a significant growth opportunity for our newly introduced large-megawatt C&I products.”

Annual report 2025A · The company itself

“Solar, storage, and energy management markets will continue to develop despite phasing out of government subsidies and incentives.”

Annual report 2025A · The company itself

“In addition, we believe we can increase mindshare with additional solar installers by enhancing our marketing efforts to drive incremental leads, expanding our clean energy product offering, and integrating our full suite of residential products into a common energy management ecosystem.”

Annual report 2025A · The company itself

“We have developed a line of energy storage systems for use in residential solar-plus-storage applications, as well as microinverters for residential solar energy production.”

Annual report 2025A · The company itself

“In 2025, we also introduced the PWRmicro, our first Generac branded microinverter that enables on-site solar power generation by converting DC power output from solar panels to AC power that can be used in the home.”

Annual report 2025A · The company itself

“The retail channel primarily sells our residential standby and portable generators, as well as our outdoor power equipment and ecobee products.”

Annual report 2025A · The company itself

“This omni-channel distribution network includes independent residential dealers and contractors, industrial distributors and dealers, national and regional retailers, e-commerce partners, electrical/HVAC/solar wholesalers, solar installers, catalogs, equipment rental companies, and other equipment distributors.”

Annual report 2025A · The company itself

“In recent years, we have been establishing a base of solar contractors that sell, install and service our PWRcell energy storage systems. We believe we will continue to build out this distribution channel over time by leveraging our decades of expertise in growing our residential generator dealer network.”

Annual report 2025A · The company itself

“We have strategically targeted specialty industries in power generation, alternative energy, government, transportation, ports, and emerging sectors like electric vehicle battery production.”

Annual report 2025A · The company itself

“As part of its science-based targets, Glaston intends to gradually phase out natural gas and other fossil energy sources in its own operations in the long term and further significantly increase the share of renewable energy.”

Annual report 2025A · The company itself

“Therefore, serious unlikely effects may be material even if they are below the threshold. No such topics emerged in the assessment.”

Annual report 2025A · The company itself

“Glaston has assessed its activities and concluded that insulating glass technologies and related services, as well as all equipment and services offered to solar energy technology suppliers, are enabling functions that significantly contribute to climate change mitigation. Glaston’s insulating glass technologies, machines, production lines, upgrade products and services that enable the manufacture of insulating glass units are taxonomy-eligible activities that meet the definition and the insulating glass units manufactured with them meet internationally standardized requirements and essential characteristics of insulating glass units.”

Annual report 2025A · The company itself

“Glass processed with Glaston’s machinery is used in the architectural, mobility, display and solar energy industries.”

Annual report 2025A · The company itself

“Glunz & Jensen also installed (Photovoltaic) solar roof panels in 2024 and in 2025 at its production facilities in Slovakia and plan to increase the capacity during 2026.”

Annual report 2025A · The company itself

“Kasvua tukevat erityisesti panostukset uusiutuvaan energiaan, vihreän vedyn tuotantoon sekä liikenneinfrastruktuurin kehittämiseen.”

Annual report 2025A · The company itself

“Andra viktiga prioriteringar är att bygga långsiktiga partnerskap inriktade på cirkularitet med leverantö - rer och kunder för att höja återvinningsgraden samt att köpa in grön energi och gröna metaller.”

Annual report 2024A · The company itself

“För att ytterligare minska klimatpåverkan kommer företaget att köpa in gröna elcertifikat för solkraft för att på så sätt säkra förnybar el till smältugnen. ”Starka partnerskap i hela värdekedjan är avgörande för att möjliggöra den gröna omställningen”, tillägger Lawlor. ”Samarbete med leverantörer av återvunnet material respektive förnybar el är nödvändigt för att leverera produkter med ett minimalt klimatavtryck och driva en långsiktig hållbar tillväxt.””

Annual report 2024A · The company itself

“Gubra Green built a 2MWh combined solar and battery park in Denmark”

Annual report 2025A · The company itself

“Building on a record year, we move forward with confidence, together shaping the next chapter of Gubra’s growth and impact. self-sufficient in electricity with the inauguration of our first solar power plant — a milestone that positions Gubra at the forefront of the biotech sector’s green transition.”

Annual report 2025A · The company itself

“2MW / 2MWh Solar power and battery storage In 2025, we built a combined solar and battery park in Denmark, adding 2MW renewable capacity and providing balancing services to the Danish electricity grid. The park can deliver nearly double the electricity needed to power Gubra’s annual operations.”

Annual report 2025A · The company itself

“Kontraktstillverkare som kan erbjuda en övergång till förnybara energislag, energieffektiviseringar, minimerade transporter samt förmåga att ta steg mot klimatneutral verksamhet kommer att gynnas.”

Annual report 2024A · The company itself

“2024 resulterade utbyggnaden av mekanikfabriken i Tartu, Estland även en utbyggnad av solcellsanläggningen med 887,2 MWh i årlig kapacitet. Totalt har HANZAs fabriker solceller med en kapacitet om 1 237,2 MWh där den solcellsanläggning på mekanikfabrikerna i Tartu svarar för 71,7 procent.”

Annual report 2024A · The company itself

“The new MyHarvia smart sauna app and technology platform enhanced our digital leadership, while theworld’s first o-the-grid electric sauna including a solar panel and the hydrogen-powered sauna showcased Harvia’s industry-leading energy saving solutions.”

Annual report 2025A · The company itself

“In addition, Harvia introduced the first solar-powered sauna in theUnited States, which operates completely o-grid.”

Annual report 2025A · The company itself

“An investment decision has been made for a solar power plant in China, with commissioning planned for 2026.”

Annual report 2025A · The company itself

“Harvia aims to deliver the full sauna experience and enables that by bringing new solutions and innovations to meet the needs of different sauna cultures. From the sustainability point of view, this means educating people about the sauna, especially the right way of using different saunas, guiding customers in selecting sustainable solutions suited to their needs, and introducing products that utilize energy-efficient technologies and alternative zeroemission energy sources, such as digital solutions for optimized energy use and sauna concepts powered by hydrogen or solar energy.”

Annual report 2025A · The company itself

“This addresses supply chain disruption risks and fosters a climate-resilient supply chain. - Energy and emissions: Prioritizing emission-free and renewable energy sources, reducing energy consumption in production facilities, optimizing transportation, and promoting cleaner combustion.”

Annual report 2025A · The company itself

“At Harvia’s headquarters and largest manufacturing site in Muurame, Harvia has a solar power plant to increase the share of renewable and emission-free energy sources.”

Annual report 2025A · The company itself

“Solpanelsprojektet är ett sätt för fabriken att minska växthusgasutsläppen, som ett komplement till den förnyelsebara el som redan används från källor som vattenkraft och vindkraft.”

Annual report 2024A · The company itself

“På så sätt minskar mängden jungfruliga råvaror som används och därmed minskar även koldioxidavtrycket. • Utsläppen av koldioxid från energianvändningen fortsatte att minska vilket är ett resultat av bland annat energieffektiviseringar och ökade inköp av fossilfri el. • Installationerna av solpaneler fortsatte och för närvarande finns utrustningar vid 12 produktionsanläggningar.”

Annual report 2024A · The company itself

“Raision asiakastukiyksikössä Hiab saattoi päätökseen hankkeen, jossa asennettiin ja otettiin käyttöön yhteensä 180 aurinkopaneelia. Paneelien odotetaan kattavan noin 22 prosenttia yksikön vuotuisesta sähkönkulutuksesta viiden vuoden keskikulutuksen perusteella laskettuna.”

Annual report 2025A · The company itself

“These projects include extensive renovations, including guest rooms, lobbies, food and beverage outlets; expansions and/or extensive renovation of ballroom and meeting rooms; major mechanical system upgrades; and green building initiatives and certifications. Also included are projects focused on increasing space profitability or lowering net operating costs, such as converting unprofitable or underutilized space into meeting space, adding guestrooms, and implementing energy and water conservation measures such as LED lighting, high-efficiency mechanical, electrical and plumbing equipment and fixtures, solar power, energy management systems, guestroom water efficient fixtures, and building automation systems.”

Annual report 2025A · The company itself

“In addition to highly engineered aerospace fasteners with a broad range of fastening systems, the segment also supplies the commercial transportation, renewable, and material handling industries.”

Annual report 2025A · The company itself

“Vi strävar efter att minimera vår klimat påverkan och fokuserar på att utveckla fastigheter till att bli mer energieffektiva, robusta och förberedda för klimatförändringar. Genom att integrera solenergi, gröna tak och intelligenta energilösningar tar vi ansvar för miljö och hållbarhet.”

Annual report 2024A · The company itself

“Renewable electricity and energy efficiency continue to be key actions in operationalizing Huhtamaki’s sustainability targets.”

Annual report 2025A · The company itself

“Humble har vidtagit flera åtgärder under 2024 för att minska inverkan på klimatet, öka energieffektiviteten och övergå till förnybara energikällor: • Solpaneler har installerats på Kryddhusets produktionsanläggning i Ljung för att säkra användningen av förnybar energi. Det har även beslutats om solpaneler på Lev Groups fabrik i Aveiro, Portugal där installation förväntas ske under 2025. • Fortsatt produktion av biogas från restavfall på Jalofoods egna biogasanläggning. • Privab har infört en ny logistiklösning genom anlitandet av en ny speditör där varor levereras till terminaler för samlastning med andra företag.”

Annual report 2024A · The company itself

“A final transition risk that has become of higher relevance lately is the risk of reduced development of renewable energy due to environmental considerations  could result in less hydropower to preserve rivers or fewer wind farms to preserve land and biodiversity. Social considerations can also play an important role, as seen in cases where renewable energy infrastructure has been constructed in areas belonging to indigenous communities, threatening in that way their right to practice their culture.”

Annual report 2024A · The company itself

“Designed for scalability with renewable energy inputs, our electrolyzers provide cost-effective solutions crucial for enhancing sectors like wind, solar, and other renewables in the energy transition.”

Annual report 2024A · The company itself

“One of the year’s most meaningful steps was taken in the United States, where we decided to invest in an on-site solar power plant, supported by federal clean-energy incentives, aiming for a full transition to renewable electricity at Incap US.”

Annual report 2025A · The company itself

“Förnybar energi och energieffektivitet Andelen energi från förnybara källor som nyttjas i verksamheten ökade till 36 (35) procent. Målet är 50 procent till 2025.”

Annual report 2024A · The company itself

“Mål och verktyg ► Nyproduceradebyggnaderskacertifierasenligtnågotav gällandemiljöcertifieringssystem. ► Energianvändningen ska minska med minst 40 procent eller understiga 118 kWh/kvm från år 2019 fram till år 2030 (kWh/kvm fastighetsel). ► Samtliga obligationer ska vara gröna. ► 100 procent självförsörjning av förnybar och hållbart producerad el (produktion av förnybar el minst lika stor som den el som koncernen förbrukar). ► 100 procent av byggnaderna inventerade och anpassade för väder- och klimatrisker år 2030.”

Annual report 2024A · The company itself

“Utöver vattenkraftverk äger Intea solcellsanläggningar, energilager och bergkyla som producerar grön el till bolagets fastigheter.”

Annual report 2024A · The company itself

“Inom ITAB-koncernen finns planer för energiförbrukningen som innebär att 100 procent av elen ska genereras från förnybara källor. Koncernen har förbundit sig till en minskning om 50 procent av koldioxidekvivalenter (CO2e) för Scope 1- och 2-utsläpp till 2030.”

Annual report 2024A · The company itself

“Udbredelse af vedvarende energi: I 2025 er der blevet installeret solceller på en større ejendom, der skal fungere som kontorfællesskab. Ejendommen har været under renovering i hele 2025 og egnede sig godt til installering af solceller.”

Annual report 2025A · The company itself

“ Bevakning av ändringar i lagkrav, riktlinjer och policyer.  Utvärdering av produktionsmetoder för ökad cirkularitet och resurseffektivitet.  Miljöcertifiering av nyproduktion och befintligt fastighetsbestånd.  Endast inköp av el från förnybara energikällor till samtliga fastigheter.  Installation av solceller på nybyggnadsprojekt samt komplettering på befintliga fastigheter.”

Annual report 2024A · The company itself

“Energi effektivisering inkluderade solcellssystem i tre skånska fastigheter.”

Annual report 2024A · The company itself

“We have tried to reduce the effect of the homes we build on the climate by installing solar power systems and energy saving devices in many of those homes.”

Annual report 2025A · The company itself

“Environment We are focused on creating environmentally sustainable products, and our purchasing power enables us to include green features in our homes. Each new home we build is healthier and more energy efficient, and has less impact on the environment, than prior generations of homes as a result of features like: •Low-VOC paint that reduces pollution with less odor and hazard; • WaterSense® faucets that reduce water flow without sacrificing performance; • Low-E windows that reduce infrared and ultraviolet light coming into the home, make homes cooler, and reduce damage to furnishing; and • Energy Star® appliances that reduce energy consumption.”

Annual report 2025A · The company itself

“Produktion av solenergi 1 656 Egen förbrukning av producerad solenergi 1 233 Produktion av icke förnybar energi 0 Energiförbrukningen har ökat 2024 eftersom stationär förbränning inkluderas från och med 2024.”

Annual report 2024A · The company itself

“Lifcos mål på kort, medellång och lång sikt är att öka energieffektiviteten samt öka andelen förnybar energi. Energieffektiviteten och andelen förnybar energi rapporteras och följs upp på koncernnivå årsvis. I dotterbolagen vidtas olika åtgärder som till exempel installationer av solceller, gröna elavtal, förbättrad isolering och mer energieffektiva maskiner och redskap.”

Annual report 2024A · The company itself

“Koncernen har också bolag som säljer LED-belysning, eldrivna produkter för elektrifieringen av samhället och green tech-bolag som till exempel utvecklar och säljer lösningar för återvinning av plast.”

Annual report 2024A · The company itself

“Moreover, the increased competitiveness of alternative energy sources could reduce demand for hydrocarbons and for Boardwalk Pipelines’ services.”

Annual report 2025A · The company itself

“Ifall en hyresgäst kan dra nytta av det, tittar vi också på möjligheten att installera lösningar med solpaneler.”

Annual report 2024A · The company itself

“In addition, alternative energy sources and other emerging solutions may not be available in sufficient quantities, may not timely scale to meet our requirements, or may be available only at higher costs. If we are unable to secure adequate power resources on commercially reasonable terms, our ability to support customer demand and execute our growth strategy could be adversely affected.”

Annual report 2026A · The company itself

“En åtgärd som vidtagits för att minska vårt energiavtryck är att endast använda 100 % förnybar el i verksamheterna, något som redan är genomfört i divisionerna Nordics och North Europe.”

Annual report 2024A · The company itself

“Renewable Energy Deployment: We are in the process of installing solar panels at several processing plants and have purchased renewable electricity to cover 30% of the group energy needs in 2024. This initiative is in line with our objective to transition to a low-carbon economy.”

Annual report 2024A · The company itself

“From the solar panels within our facilities we generated 8 997 MWh in 2024.”

Annual report 2024A · The company itself

“Hållbarhet I strävan mot en klimatneutral framtid arbetar AirTech med cirkularitet, att minska energiåtgången i egna anläggningar samt att använda förnybara energikällor. Under året har vi initierat åtgärder som förbättrat energiåtgången och tecknat avtal för installation av solenergilösningar vid vår nya anläggning i Amesbury, USA. Vi planerar även installation av bergvärme i vår fabrik i Tobo under 2025.”

Annual report 2024A · The company itself

“Ett av de mest effektiva sätten att minska klimatpåverkan från våra fabriker är att successivt övergå till att använda energi från förnybara källor. På lång sikt strävar vi efter att 100% av vår elektricitet ska komma från förnybara källor, med ett delmål att uppnå minst 80% till 2026 i våra produktionsanläggningar.”

Annual report 2024A · The company itself

“Introduktionen av fler förnyelsebara energikällor som till exempel solpaneler kräver också investeringar i kraftnäten.”

Annual report 2024A · The company itself

“Such transitions are likely to require capital expenditures and may result in additional costs.”

Annual report 2025A · The company itself

“NIBEClimateSolutionsharunder2024,trotsdenkraftigainbromsningen i värmepumpsmarknaden i Europa och parallellt med genomförandet av åtgärdsprogrammet, planenligt och på ett imponerande sätt genomfört planerade produktlanseringar och investeringariutvecklingochproduktion. Inom värmepumpssegmentet har flera nya modeller med det naturligaköldmedietR290(propan)introduceratsliksomnyastyrfunktionervilkadrarnyttaavArtificiellIntelligens,AI.Påmarknaden förkommersiellafastigheterharbland annatettheltnyttventilationssortimentundervarumärketNIBE Flowintroducerats.”

Annual report 2024A · The company itself

“Solceller är viktiga i att bli klimatneutrala Medsolcellerpåtaketkanfastighetsägarenproduceraelektricitetföregetbruk, innaneventuelltöverskottskickasvidareuttillelnätet.Detärfördelaktigtför klimatetochgerettbetydandeekonomiskttillskott,oavsettvilkenuppvärmningsomfinnsifastigheten.Mesteffektivtärattkombinerasolcellermeden värmepumpslösning.  Storainvesteringsprojektförförbättradinfrastruktur pågårruntomivärlden, blandannatinomspårbundentrafik.NIBEGroupsdotterbolagbidrargenomatt utvecklaochlevererautrustningbådetillfordonenochföruppvärmningavspår ochväxlar,vilkenstyrsochreglerasautomatiskt.”

Annual report 2024A · The company itself

“In 2025, we continued to make significant progress on the remaining portfolio of projects that will enable our electric generation transition, including placing two solar projects and one solar and battery project into service.”

Annual report 2025A · The company itself

“Energy Transition: We continue to advance our energy transition strategy, primarily through the continuation and enhancement of existing programs, such as implementing our plan to retire and replace remaining coal-fired electric generation by 2028 with a balanced mix of low- or zero-emission electric generation, ongoing pipe replacement and modernization programs, and deployment of advanced leak detection and repair.”

Annual report 2025A · The company itself

“Schahfer Wheatfield, IN Natural Gas 155 Oakdale Carroll County, IN Hydro 9 Norway White County, IN Hydro 7 Rosewater(2) White County, IN Wind 102 Indiana Crossroads Wind(2) White County, IN Wind 302 Dunns Bridge I(2) Jasper County, IN Solar 265 Indiana Crossroads Solar(2) White County, IN Solar 200 Cavalry Solar and Storage(3) White County, IN Solar and Storage 200 Dunns Bridge II(3) Jasper County, IN Solar and Storage 435 Fairbanks Solar Sullivan County, IN Solar 250 Gibson Solar Gibson County, IN Solar 200 Total MW Capacity 3,967 (1)Represents current net generating capability of each fossil fuel and hydro generating facility.”

Annual report 2025A · The company itself

“As of December 31, 2025, we also have multiple PPAs that provide approximately 1,200 MW of capacity, with contracts expiring between 2038 and 2045.”

Annual report 2025A · The company itself

“We expect renewable generation, battery energy storage and natural gas generation to be the primary ways in which we will meet our electric generation capacity and reliability obligations to the MISO market and reliably serve our customers when we retire our coal generation capacity.”

Annual report 2025A · The company itself

“As of December 31, 2025, we have placed in service owned renewable and storage projects with combined nameplate capacities of 1,950 MW and 101 MW respectively. Renewable PPA projects with a combined nameplate capacity of 1,200 MW have also been placed in service.”

Annual report 2025A · The company itself

“NIPSCO has executed several PPAs to purchase 100% of the output from renewable generation facilities at a fixed price per MWh.”

Annual report 2025A · The company itself

“Nolato strävar efter att öka andelen förnybar energi i den egna energimixen i syfte att reducera koncernens växthusgasutsläpp. Förnybar elektricitet införskaffades vid fyra ytterligare fabriker under året genom kontrakt med elleverantörer.”

Annual report 2024A · The company itself

“Oceans continues to expand its addressable market for ocean exploration and security applications through new product developments. Growth in the blue economy, regional shifts towards renewable energy, alongside geopolitical unrest, drive increased demand for NORBIT’s advanced seabed exploration, inspection, and security surveillance solutions.”

Annual report 2024A · The company itself

“The technology company Saildrone has developed an uncrewed surface vehicles (USV) solution for ocean exploration. Saildrone’s USVs are powered by renewable wind and solar energy with low operational carbon footprint, continuously feeding data in near real time to drive more informed decision-making. Saildrone provides data as a fully managed service, and the data is used in a wide range of critical maritime applications, such as safety of navigation, coastal surveys, offshore wind development, marine research and environmental monitoring.”

Annual report 2024A · The company itself

“In terms of transition risk related to pricing of and access to energy, the results of the resilience analysis reflect that the resilience of Norske Skog’s business model is strengthened based on recent capital investment in low emission energy generation at Norske Skog Bruck and Norske Skog Golbey, These investments has contributed to important risk mitigation related to the dependency on fossil sources while improving the share of renewable sources in the energy mix and avoiding long term energy pricing risk.”

Annual report 2024A · The company itself

“Currently, we are a party to two Power Purchase Agreements (“PPAs”). Under these PPAs, we have agreed to purchase for a fixed price output from one solar and one wind project in the United States.”

Annual report 2025A · The company itself

“In collaboration with our electric utility partner, we evaluated opportunities to deploy battery storage and solar generation in support of the expansion at our Kingman, Arizona bar mill. In 2025, we contracted with a third party to install and operate a 50 MW onsite battery energy storage system which became operational in the fourth quarter of 2025. The Kingman site will also host a 25 MW solar project, with construction planned for 2026.”

Annual report 2025A · The company itself

“Steel products segment In the steel products segment, Nucor produces steel joists and joist girders, steel deck, galvanized torque tubes used in solar arrays, hollow structural section (“HSS”) steel tubing, electrical conduit, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, steel grating and expanded metal, wire and wire mesh, metal building systems, insulated metal panels, steel racking for warehouse systems and data centers, overhead doors, and utility towers and structures for communications and energy transmission.”

Annual report 2025A · The company itself

“However, there is an increased appetite for field development and production spending across the segments, as we bridge the gap while moving to renewables.”

Annual report 2024A · The company itself

“Under 2024 fortsatte vi att utveckla vår portfölj med egenutvecklade projekt och uppnådde en viktig milstolpe genom att ta vårt första storskaliga soloch batteriprojekt i Storbritannien till tillståndsfasen. Vi har även projekt i Tyskland som är nära att uppnå samma milstolpe.”

Annual report 2024A · The company itself

“Vindkraft, solenergi och batterilagring är fortsatt de mest kostnadseffektiva energikällorna, med det lägsta break-even priset jämfört med andra energislag.”

Annual report 2024A · The company itself

“Den svenska portföljen utökades ytterligare i juli 2024, då bolaget förvärvade en stor portfölj med egenutvecklade projekt i tidiga stadier inom soloch batterilagring från en av Sveriges största privata markägare.”

Annual report 2024A · The company itself

“I juli 2024 ingick bolaget en överenskommelse med en av Sveriges största markägare om att förvärva en portfölj av soloch batterilagringdprojekt i tidiga stadier i elprisområdena SE2 och SE3, med en total installerad kapacitet om cirka 500 MW.”

Annual report 2024A · The company itself

“Förvärv som har genomförts under 2024 ökar den årliga långsiktiga proportionella elproduktionen med 50 GWh, vilket motsvarar en ökning om fem procent av bolagets långsiktiga proportionella elproduktion. • Bolaget har uppnått tillståndsfasen för det första storskaliga projektet i Storbritannien, bestående av 1,4 GW solenergi och 500 MW batterilagring, och har inlett en försäljningsprocess för att utvärdera möjliga avyttringsalternativ. • Bolaget har uppnått koldioxidneutralitet för sina koldioxidutsläpp inom Scope 1 och Scope 2.”

Annual report 2024A · The company itself

“Egenutvecklade projekt Bolaget vidareutvecklar en portfölj om 40 GW av egenutvecklade projekt i tidigt stadie inom landbaserad vindkraft, solenergi och batterilagring i Norden, Storbritannien, Tyskland och Frankrike.”

Annual report 2024A · The company itself

“Storbritannien I Storbritannien har bolaget arbetat med att vidareutveckla befintliga projekt i tidigt stadie, bestående av elnätsanslutningar med en total kapacitet om 24 GW för solenergiprojekt och 12 GW för samlokaliserade batterilagringsprojekt, till mer mogna stadier. Under det fjärde kvartalet säkrade Orrön Energy ytterligare markrättigheter och nådde tillståndsfasen för bolagets första storskaliga projekt om upp till 1,4 GW installerad kapacitet för solenergi och 500 MW batterilagring, och med en exportkapacitet till elnätet om 1 GW och 500 MW importkapacitet.”

Annual report 2024A · The company itself

“Tyskland I Tyskland har bolaget fortsatt att vidareutveckla sina första projekt, och är för närvarande involverat i flera processer med lokala myndigheter för att erhålla de godkännanden som krävs för att kunna nå tillståndsfasen.”

Annual report 2024A · The company itself

“Frankrike I Frankrike har Orrön Energy säkrat bolagets första markrättigheter och intensifierar nu aktiviteterna för att säkra tillgång till mer mark och vidareutveckla de första projekten mot tillståndsfasen.”

Annual report 2024A · The company itself

“(E1-2-25-(c)) Renewable energy deployment As part of its Sustainability Policy, Outokumpu minimizes the negative impacts of its operation on the environment by increasing the share of low-carbon electricity, which is one of the key elements in Outokumpu’s transition plan. The low carbon electricity includes both renewable and nuclear energy.”

Annual report 2025A · The company itself

“At our Applecross hatchery in Scotland, all energy will be sourced from renewable sources, including solar panels and a direct private power line to a nearby hydropower plant.”

Annual report 2024A · The company itself

“Producera egen förnybar el med solceller. Det motverkar effektbrist och stigande elpriser (energikällor).”

Annual report 2024A · The company itself

“30 procent af Lalandias el-forbrug bliver matchet af solenergi fra Andels solcellepark i Vedde”

Annual report 2025A · The company itself

“Aftalen med Andel er et strategisk energipartnerskab med fokus på den grønne omstilling af Danmarks nationalstadion.”

Annual report 2025A · The company itself

“Investeringer I 2025 blev der i scope 3 udledt 30.551 ton CO e svarende til 76 % af den samlede markedsbaserede udledning. Dette repræsenterer en stigning på 17 % sammenlignet med 2024. Stigningen kan primært henføres til højere udledninger i kategori 2 Kapitale goder, kategori 11 Anvendelse af solgte produkter samt kategori 15 Investeringer.”

Annual report 2025A · The company itself

“I Billund opføres der yderligere 29 nye ferieboliger – hovedsageligt på en ny udstykning ”Egestien” beliggende ved Lalandia i Billund. Ligeledes undersøges muligheden for at etablere egen solcellepark.”

Annual report 2025A · The company itself

“Derudover opgraderes eksisterende systemer til lys- og ventilationsstyring, hvilket muliggør mere effektiv kontrol og reduktion af energiforbruget. Som en del af indsatsen undersøges mulighederne for omstilling til vedvarende energikilder, herunder solceller. Solceller er allerede installeret i Lalandia i Søndervig, og det forventes, at mulighederne i Lalandia Billund og Rødby vil blive afklaret inden udgangen af 2026.”

Annual report 2025A · The company itself

“Simhallen, som får sin energiförsörjning från solenergi, ska stärka Partilles position som en av Sveriges främsta idrottsstäder.”

Annual report 2024A · The company itself

“Det kan handla om att utforma flexibla fastigheter, bygga solenergianläggningar, vindkraftverk och järnvägar, eller att bygga så att vi underlättar för människor att leva mer klimatanpassat.”

Annual report 2024A · The company itself

“Det kan handla om att till exempel utveckla hamnar, förbereda markområden och bygga fabrikslokaler för att möjliggöra den gröna omställningen eller att möjliggöra för vind- och solkraftsproduktion och att dimensionera vatten- och avloppsnät till ökade regnmängder.”

Annual report 2024A · The company itself

“Der er sket en stigning i andelen af energi fra vedvarende energikilder fra 11 % til 23 % i 2024/25.”

Annual report 2025A · The company itself

“This practice is becoming more popular with customers installing or having installed products such as rooftop solar panels to meet or supplement their energy needs. While historically this practice has been largely focused on customers installing behind the meter technologies, such as rooftop solar panels or back-up generators to meet or supplement their energy needs, today APS and utilities broadly are seeing a rise in large customers seeking to develop or accelerate large, utility scale generation projects to serve their energy needs.”

Annual report 2025A · The company itself

“Alternative energy technologies that produce power or reduce power consumption or emissions are being developed and commercialized, including renewable technologies such as photovoltaic (solar) cells, customer-sited generation, energy storage (batteries) and efficiency technologies. Advances in technology and equipment/appliance efficiency could reduce the demand for supply from conventional generation, including carbon-free nuclear generation, and increase the complexity of managing APS’s information technology and power system operations, which could adversely affect APS’s business.”

Annual report 2025A · The company itself

“Deployment of renewable energy technologies is expected to continue across the western states and result in a larger portion of the overall energy production coming from these sources. These trends, which have benefited from historical and continuing government support for certain technologies, have the potential to put downward pressure on wholesale power prices throughout the western states which could make APS’s existing generating facilities less economical and impact their operational patterns and long-term viability.”

Annual report 2025A · The company itself

“Modification of the ACC’s retail electric competition rules or other efforts of deregulation and other factors, such as customers installing behind the meter technologies or large customers developing large, utility scale generation projects to serve their energy needs, may result increased competition, which could have a significant adverse impact on APS’s business and results of operations.”

Annual report 2025A · The company itself

“Current laws and regulations as well as changes to those laws and regulations, including via judicial decisions and executive orders, create strategic challenges in acquiring an appropriate generation portfolio and fuel diversification mix. APS is required by the ACC to meet certain energy resource portfolio requirements, including those related to renewables development and energy efficiency measures, in addition to specific competitive resource procurement requirements.”

Annual report 2025A · The company itself

“Location Actual/Target Commercial Operation Date Net Capacity (MW) In Operation Net Capacity (MW) Planned/Under Development Solar: Paloma Gila Bend, AZ 2011 17 Cotton Center Gila Bend, AZ 2011 17 Hyder I Hyder, AZ 2012 17 Chino Valley Chino Valley, AZ 2012 20 Hyder II Hyder, AZ 2013 14 Foothills Yuma, AZ 2013 38 Gila Bend Gila Bend, AZ 2014 36 Luke AFB Glendale, AZ 2015 11 Desert Star Buckeye, AZ 2015 10 Red Rock Red Rock, AZ 2016 44 Agave Solar Arlington, AZ 2023 150 Ironwood Solar Dateland, AZ (a) 168 Multiple Facilities AZ Various 4 Distributed Energy: (b) APS Owned (c) AZ Various 41 Total APS Owned 419 168 (a)This project met plant in service criteria as of December 31, 2025.”

Annual report 2025A · The company itself

“Agreements for the development and completion of future resources are subject to various conditions, including successful siting, permitting and interconnection of the projects to the electric grid.”

Annual report 2025A · The company itself

“Table of Contents On November 6, 2023, the KPSC issued an order approving LG&E's and KU's December 15, 2022 CPCN requests (i) to construct a 645 MW net summer rating NGCC combustion turbine at LG&E's Mill Creek Generating Station in Jefferson County, Kentucky, (ii) to construct a 120 MWac solar photovoltaic electric generating facility in Mercer County, Kentucky, (iii) to acquire a 120 MWac solar facility to be built by a third-party solar developer in Marion County, Kentucky and (iv) to construct a 125 MW, 4-hour battery energy storage system facility at KU's E.W. Brown Generating Station.”

Annual report 2025A · The company itself

“Brown Units 8 - 11 (b) 100.00 Haefling - Units 1 - 2 2,745 760 1,985 Hydro Ohio Falls - Units 1-8 64 100.00 64 Dix Dam - Units 1-3 32 100.00 32 96 64 32 Solar E.W. Brown Solar (c) 8 39.00 3 61.00 5 Total 7,570 2,466 4,798 (a)Trimble County Unit 1 and Trimble County Unit 2 are jointly owned with Illinois Municipal Electric Agency and Indiana Municipal Power Agency.”

Annual report 2025A · The company itself

“We may also be adversely impacted by transition risks, such as potential impacts to the supply chain as a real estate developer or changes in laws or regulations, including the need to invest in low-carbon technologies like solar and battery storage, electric vehicle charging, and LED lighting.”

Annual report 2025A · The company itself

“Environmental Sustainability We develop modern and efficient buildings with state-of-the-art technology to stay ahead of our customers’ needs, advance our ability to meet future structural, transportation and energy requirements, and make progress on our own sustainability goals and objectives. This includes new development and redevelopment of buildings that align with leading sustainable building standards and the implementation of solutions and services such as onsite solar generation, energy storage, heat pumps, cool roofs, LED lighting, EV charging stations and other mobility solutions, recycling and xeriscaping.”

Annual report 2025A · The company itself

“At December 31, 2025, we had 1.1 gigawatts of solar generation and storage capacity on our O&M portfolio, including Prologis and third-party owned projects.”

Annual report 2025A · The company itself

“The following table summarizes our investment in consolidated real estate properties at December 31, 2025 (in millions): Investment Before Depreciation Operating properties, excluding assets held for sale or contribution $ 80,561 Development portfolio, including cost of land 3,019 Land 4,888 Other real estate investments (1) 6,661 Total consolidated real estate properties $ 95,129 (1) Included in other real estate investments were principally: (i) land parcels we own and lease to third parties; (ii) renewable energy assets, including solar, electric vehicle charging and energy storage; (iii) non-strategic real estate assets that we do not intend to operate long term; (iv) newly developed and stabilized data centers; and (v) non-industrial real estate assets that we intend to redevelop as industrial properties or data centers.”

Annual report 2025A · The company itself

“Anticipated demand growth and the pace of that relative to retirements of existing firm generation and new additions of intermittent and firm generation capacity, as well as subsidized generation capacity, or technological advances could impact forward market prices in the future.”

Annual report unknown yearA · The company itself

“Grid Modernization—In June 2022, following a stakeholder proceeding, the BPU Staff issued a report containing findings and recommendations to update the BPU’s interconnection regulations and processes. In furtherance of the recommendations, in June 2024 the BPU amended its interconnection rules to speed up the interconnection of renewable resources to the distribution grid.”

Annual report unknown yearA · The company itself

“In July 2025 and January 2026, the BPU adopted various regulations intended to streamline the process for utility interconnection applications and ensure compliance with a recently enacted law mandating that EDCs in New Jersey improve the interconnection process for certain grid supply solar and energy storage facilities.”

Annual report unknown yearA · The company itself

“Federal and state incentives for the development and operation of renewable sources of power have facilitated the penetration of competing technologies, such as wind, solar, and commercial-sized power storage.”

Annual report unknown yearA · The company itself

“Advances in distributed generation technologies, such as fuel cells, micro turbines, micro grids, windmills and net-metered solar installations, coupled with subsidies, could (i) affect the price of energy, (ii) reduce energy deliveries as customer-owned generation becomes more cost-effective, (iii) require further improvements to our distribution systems to address changing load demands, and (iv) make portions of our transmission and/or distribution facilities obsolete prior to the end of their useful lives.”

Annual report unknown yearA · The company itself

“Our growth is driven by (i) our investment program to deliver energy more reliably by investing to meet anticipated demand growth and modernizing our electric transmission and electric and gas distribution system and (ii) investing in programs that meet State targets to help deliver cleaner energy, including our EE programs to help customers use less energy and investment programs to build EV infrastructure and solar generation.”

Annual report unknown yearA · The company itself

“PSE&G’s participation in solar, EV and EE programs is also regulated by the BPU, as the terms and conditions of these programs are approved by the BPU.”

Annual report unknown yearA · The company itself

“PSE&G is a regulated public utility that operates and invests in an electric T&D system and a gas distribution system as well as certain regulated clean energy investments, including solar and EE within New Jersey. PSE&G invests in capital projects to maintain and improve its existing T&D system and to address various public policy goals and meet customer expectations.”

Annual report unknown yearA · The company itself

“Energy efficiency represents an important source of value for new homes compared with existing homes and represents a key area of focus for our home designs, including high efficiency heating, ventilation, and air conditioning systems and insulation, low-emissivity windows, solar power in certain geographies, and other energy-efficient features.”

Annual report 2025A · The company itself

“Technological advancements, market developments and other factors may increase our costs or alter our customers’ existing operating models or the services they require, which could result in reduced demand for our services. For example, a transition to a decentralized electric power grid, which relies on more dispersed and smaller-scale sources, could reduce the need for large infrastructure projects and significant maintenance and rehabilitation programs, thereby reducing demand for, or profitability of, our services.”

Annual report 2025A · The company itself

“With respect to certain services within our Electric segment, current and potential legislative or regulatory initiatives may not be implemented or extended or result in incremental increased demand for our services, including legislation or regulation 31 that mandates percentages of power to be generated from renewable sources, requires utilities to meet reliability standards, provides for existing or new production tax credits for renewable energy developers, or encourages installation of new electric power transmission and renewable energy generation facilities.”

Annual report 2025A · The company itself

“I exempelvis norra Sverige pågår en omfattande industriutveckling när nya gröna näringar inom bland annat fossilfritt stål, batteritillverkning och förnybar energi etableras. Här är marknaden den drivande faktorn när kunderna efterfrågar hållbara transporter som en viktig del i deras Installation av ombordsystem erbjuds, och nyttjas redan flitigt, av kunder både nationellt och internationellt, där efterfrågan är stor.”

Annual report 2024A · The company itself

“Vi skapar värde i hela energisystemet och bidrar till morgondagens hållbara samhälle genom att staka ut vägen för hur ren energi produceras, överförs och förbrukas. Omställningen från energisystem som bygger på fossila bränslen till energisystem som bygger på koldioxidsnåla och förnybara energikällor är avgörande för att begränsa klimatförändringarna.”

Annual report 2024A · The company itself

“Vi har kompetens inom alla delar av energiproduktionen, inklusive alternativa källor som vätgas, vind, sol och kärnkraft.”

Annual report 2024A · The company itself

“Företaget satsar också stort på internationell expansion samt på att utveckla erbjudandet inom solenergi, grön vätgas och system för batterienergilagring.”

Annual report 2024A · The company itself

“We also are producing renewable energy at our landfills through solar projects we host at seven sites, which generate clean electricity for local communities.”

Annual report 2025A · The company itself

“The company uses a large part of its electricity consumption in its warehouses and processing work; During the last year we have been able to reduce our use of electricity and therefore also the emission of CO2 from this source. In 2024/25 RIAS has been able to produce 260.000 Kwh.”

Annual report 2025A · The company itself

“Under hösten 2024 började Rottneros egen solcellspark producera el och en energilagring togs i drift. Solcellerna väntas generera nästan 3 GWh årligen vilket kan jämföras med koncernens årsbehov av köpt el som uppgår till cirka 220 GWh.”

Annual report 2024A · The company itself

“Större investeringar som slutfördes under 2024 var utökad CTMP-kapacitet, solceller och batterilagring i Rottneros Bruk.”

Annual report 2024A · The company itself

“Under året investerades totalt 85 MSEK relaterat till förnyelsebar elenergi vid Rottneros Bruk. Investeringarna som togs i drift under hösten 2024 omfattade en solcellspark och ett batteri för energilagring. Koncernen har även ingått ett långsiktigt avtal för att säkra tillgången till förnybar energi med tyska EnBW genom ett Power Purchase Agreement (PPA). Rottneros kommer att kunna tillgodoräkna sig drygt 30 GWh/år ren vindenergi under en 8,5-årsperiod med start 2025.”

Annual report 2024A · The company itself

“installed solar panels at several production sites”

Annual report 2025A · The company itself

“Opportunity: By consuming renewable energy, Scanfil can replace fossil-based energy sources. Renewable energy already accounts for 60% of the energy used in Scanfil’s production (scope 1 and scope 2). • Working on adapting own facilities to climate change. • Adapting heating and cooling units in facilities. • Having adaptation strategies for extreme weather events. • Scanfil’s strategic target is to improve its energy efficiency and the transition to fossil-free fuels, as well as fossil-free purchased electricity and heat.”

Annual report 2025A · The company itself

“Substantial contribution - CCM 4.1 The activity generates electricity using solar PV technology. Scanfil operates a roof solar generator system on one of its manufacturing sites thus complying with the criteria.”

Annual report 2025A · The company itself

“In 2024, Scanfil invested in solar panel installations at its production facility in Suzhou, China. The system provides the facility with self-produced renewable energy, reducing dependence on external energy sources. In 2025, the facility produced a total of 1,781 MWh of renewable electricity.”

Annual report 2025A · The company itself

“In support of global climate objectives, the Policy expresses Scanfil’s long-term ambition to mitigate climate change by transitioning toward renewable energy consumption. While the Policy does not prescribe detailed implementation measures, it defines clear priorities, including the procurement of renewable energy for production facilities and the development of in-house renewable energy generation capacity.”

Annual report 2025A · The company itself

“As provider of operation and maintenance services to the projects, it is responsible for the day to day operations of the plant 4.”

Annual report 2024A · The company itself

“Scatec ASA (“the Company”) and its subsidiaries and investments in associated companies and joint ventures (“the Group” or “Scatec”) is a leading renewable energy solution provider, accelerating access to reliable and affordable clean energy in high growth markets.”

Annual report 2024A · The company itself

“Power Production The Power Production segment manages the Group’s power-producing assets and derives its revenue from the production and sale of solar, wind, and hydro generated electricity mainly based on long-term Power Purchase Agreements or feed-in-tariffs.”

Annual report 2024A · The company itself

“The segment also includes revenues from the Release concept.”

Annual report 2024A · The company itself

“The segment also comprises Operations & Maintenance (O&M) and Asset Management services provided to power production plants where Scatec has an economic interest reflected as a cost in the segment and external O&M services to the plants not owned. The services are delivered to ensure the optimised operation of powerproducing assets through a complete and comprehensive range of services for technical and operational management.”

Annual report 2024A · The company itself

“O&M revenues are generated on the basis of fixed service fees with additional profitsharing arrangements. Asset management services typically include financial reporting to sponsors and lenders, regulatory compliance, and environmental and social management, as well as contract management on behalf of the power plant companies.”

Annual report 2024A · The company itself

“Development & Construction The Development & Construction segment derives its revenue from the sale of development rights and construction deliverables and services to project entities set up to operate the Group’s power production plants. Transactions in this segment are mainly between entities under the Group’s control and hence eliminated in the consolidated financial statement.”

Annual report 2024A · The company itself

“Natural gas transported for electric generating plant customers may be affected by the overall demand for electricity, growth in self-generation from rooftop solar, the addition of more efficient gas technologies, new energy efficiency initiatives, and the degree to which regulatory changes in electric transmission infrastructure investment divert electric generation from SoCalGas’ and SDG&E’s service areas. The demand for natural gas may also fluctuate due to volatility in the demand for electricity due to seasonality, weather conditions and other impacts, and the availability of competing supplies of electricity, such as renewable energy sources, among other factors.”

Annual report 2025A · The company itself

“SDG&E supplies power from its own electric generation facilities and procures power on a long-term basis from other suppliers for resale through CPUC-approved PPAs or purchases on the spot market. SDG&E does not earn any return on commodity sales volumes. SDG&E’s electric resources at December 31, 2025 were as follows: ELECTRIC RESOURCES(1) Contract expiration date Net operating capacity (MW) % of total SDG&E: Owned generation facilities, natural gas(2) 1,217 26 % PPAs: Renewable energy: Wind 2026 to 2042 962 20 Solar 2030 to 2043 1,546 32 Other 2027 and thereafter 30 1 Tolling and other 2026 to 2042 1,023 21 Total 4,778 100 % (1) Excludes approximately 482 MW of energy storage owned and approximately 632 MW of energy storage contracted.”

Annual report 2025A · The company itself

“Som första steg har vi under förra verksamhetsåret satt upp solcellspaneler på fyra fastigheter i Sälen. Vi har även fördjupat vårt samarbete med Jämtkraft och investerat i lokalproducerad vindkraft i Vemdalen.”

Annual report 2024A · The company itself

“As a sourcing and services company, we play a key role in enabling the green transition by helping customers and suppliers reduce their climate footprint.”

Annual report 2025A · The company itself

“These efforts support decarbonisation by enabling downstream value chain transformation and contribute to the avoidance of emissions through the implementation of renewable energy solutions. The sale of products and solutions that enhance the transition to renewable energy sources has been identified as an entity-specific opportunity under the topic E1: Climate Change.”

Annual report 2025A · The company itself

“The effectiveness of our contribution to the green transition is pursued through our Group strategy and is aligned with our commercial priorities for 2024–2026 and measured through a target linked to the share of revenue (%) generated from products and solutions that support renewable energy adoption (see page 12 in the Management Review).”

Annual report 2025A · The company itself

“We maximise the growth potential in climate and energy solutions, such as heat pumps, solar panels, EV charging and ventilation.”

Annual report 2025A · The company itself

“Solar Polaris exceeded expectations, positively impacting organic growth at group level by 1.0 percentage points.”

Annual report 2025A · The company itself

“Organic growth was positively impacted by Solar Polaris’ deliveries to a major solar park project.”

Annual report 2025A · The company itself

“Sales of renewable energy products and solutions ● We continue to promote and sell products and solutions to impact the transition to a low-carbon society in general.”

Annual report 2025A · The company itself

“To support our scope 3 reductions, we have initiated the following actions: ● Solar Industrial Solutions has been established to offer turnkey climate and energy solutions. By installing heat pumps, solar panel solutions, and other energy-efficient products, our customers can decarbonise their own operations.”

Annual report 2025A · The company itself

“Sustainability statements Solar aims to accelerate the green transition by offering products such as heat pumps, solar panel solutions, EV chargers, and ventilation systems that help to decarbonise the market by replacing gas and oil boilers with renewable energy solutions.”

Annual report 2025A · The company itself

“Southern Power's electricity sales from solar and wind generating facilities are also primarily through long-term PPAs; however, these solar and wind PPAs do not have a capacity charge and customers either purchase the energy output of a dedicated renewable facility through an energy charge or provide Southern Power a certain fixed price for the electricity sold to the grid.”

Annual report 2025A · The company itself

“I foråret begynder Juelsmindehalvøens Solar at levere strøm, en solcellepark som vi har etableret”

Annual report 2025A · The company itself

“Vi har bl.a. fokus på at øge mængden af genanvendt plast i produktionen, energieffektiviseringer af vores produktionsapparat og omlægning til vedvarende energi.”

Annual report 2025A · The company itself

“Banken hadde per 31.12.2024 240 millioner i utlån eksponert i vesentlige klimarelaterte investeringer, hvorav 231 millioner knyttet til produksjon av fornybar energi, mens 9 millioner er knyttet til fossil energi.”

Annual report 2024A · The company itself

“For bedriftsmarkedet kan du blant annet få grønne lån til finansiering av næringsbygg som oppfyller de strengeste kravene til eiendom i vårt grønne obligasjonsrammeverk, rehabilitering av eksisterende næringsbygg, solenergilån og til flere tiltak innen landbruk.”

Annual report 2024A · The company itself

“Fornybar energi 100 % av energi porteføljen skal være fornybar 100 % Alle bankens utlån til energi og kraftproduksjon er knyttet til fornybar energi, i hovedsak vannkraft og en mindre andel sol og vindenergi. ISS Second Party Opinon (SPO) på vårt grønne obligasjonsrammeverk bekrefter at bankens fornybarenergiportefølje er like som taksonomikriteriene.”

Annual report 2024A · The company itself

“I dag tilbys tre typer grønne lån for å fremme energi effektivisering og oppgradering til fornybare energikilder i næringseiendom: Grønt lån til næringseiendom, solenergilån for næringseiendom og grønt rehabiliterings lån.”

Annual report 2024A · The company itself

“Mål 2030: Porteføljen skal vokse med 80 prosent fra basisår 2022 til 2030. Kortsiktig mål: Mål for 2025 er at porteføljen skal vokse med 30 prosent fra basis år 2022.”

Annual report 2024A · The company itself

“Banken har også satt egne vekstmål knyttet til bransjer som er inspirert av Parismålene og forventer på mellomlang og lang sikt økte bidrag fra blant annet vannkraftporteføljen.”

Annual report 2024A · The company itself

“Sparebanken Vest skal finansiere fornybar energi. Banken startet satsingen på utlån til småkraftverk i 2002 og har i stor grad finansiert småkraftverk med lokale grunneiere. De siste årene har det vært konsolideringen i bransjen, med få og større aktører bak de fleste nye kraftverk som blir bygd. Bankens bransjemål for småkraft er relatert til vekst i porteføljen, da det grønne skiftet er avhengig av nok grønn energi.”

Annual report 2024A · The company itself

“Gitt en rask overgang til nullutslipp, kan fossile selskap være særlig utsatt for verdifall. Selskaper som tjener på overgangen, spesielt innen fornybar energi, kan øke i verdi. Dersom overgangen går langsomt vil risikobildet snu.”

Annual report 2024A · The company itself

“Livselskapenes investeringsstrategi og mål i overgangsplanen, bidrar til at Storebrand har en lavere eksponering enn det brede markedet til fossile selskaper og en høyere eksponering til klimarelaterte løsningsselskaper.”

Annual report 2024A · The company itself

“30) Fossile selskaper er som definert for PAI 1.4 i SFDR, klimarelaterte løsningsselskaper er investeringer innenfor fornybar energi.”

Annual report 2024A · The company itself

“Exempel på detta är att erbjuda kunder rådgivning kring hur de kan uppfylla taxonomin i byggprojekt som affärsenheterna är en del av, eller för installatörer att utöka erbjudandet för installation av solceller och laddstolpar.”

Annual report 2024A · The company itself

“Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable sources (MWh) 92,920 111,348 10.”

Annual report 2025A · The company itself

“Till tidigare genomförda aktiviteter hör bland annat installation av en komplett solenergianläggning vid lager- och logistikenheten i Bristol. Anläggningen var under 2024 självförsörjande på energi.”

Annual report 2024A · The company itself

“Mkr % Mkr 2024 2023 2022 400 40 På produktionsanläggningen i Biddinghuizen finns solceller installerade, vilka täcker cirka 70 procent av elbehovet. Geotermisk energi används för uppvärmning, vilket gör anläggningen helt gasfri.”

Annual report 2024A · The company itself

“Positiv påverkan E Energiproduktion med solpaneler.”

Annual report 2024A · The company itself

“Under de senaste åren har solpaneler bidragit till att Roper Rhodes och Thebalux nu har kapacitet att producera egen grön el.”

Annual report 2024A · The company itself

“Omställningen till fossilfria kontor följs upp årligen genom att främst bevaka energiförbrukning per årsanställd, energiförbrukning per kvadratmeter samt andel förnybar energi på kontoren.”

Annual report 2024A · The company itself

“Bland annat avseende målen om 50 procent miljöcertifierad uthyrningsbar yta, att andelen hållbara lån ska utgöra minst 70 procent av den totala finansieringen samt att installerad effekt i solceller ska överstiga 15 MWp. Vid årets utgång uppgick installerad effekt i solcellsanläggningar till 17,9 MWp och andelen hållbara lån till 4 573 mkr motsvarande 78 procent av låneportföljen.”

Annual report 2024A · The company itself

“Investeringar i energieffektiviserande åtgärder är en viktig del av såväl SLP:s hållbarhetsarbete som förädlingsarbete av befintliga fastigheter. Energieffektiviserande investeringar inkluderar till exempel solcellsanläggningar, LED-belysning och fastighetsautomation, vilka under 2024 uppgick till cirka 82 mkr.”

Annual report 2024A · The company itself

“Energy (17% of segment’s net sales)—Our products are used by electric power utilities, OEMs, and engineering procurement construction companies serving the electrical power grid and renewables industries. They include a wide range of insulation, protection, and connection solutions for electrical power generation, transmission, distribution, and industrial markets.”

Annual report unknown yearA · The company itself

“Implementering av förnybar energi vid användning av sålda produkter: I takt med att den globala tillväxten av förnybar energi fortsätter, förväntar sig Tele2 en 42% minskning av utsläppen från den el som kunder använder för att driva sina produkter. Genom att kommunicera med kunder om vikten av att använda förnybar el förväntas ytterligare 5% utsläppsminskning uppnås.”

Annual report 2024A · The company itself

“Företaget prioriterar resurseffektivitet och initiativ inom cirkulär ekonomi samt har etablerat avtal med leverantörer av förny - bar energi för att stödja sina mål för minskade koldioxidutsläpp.”

Annual report 2024A · The company itself

“In 2022 we acquired Prediktor AS, where we offer asset management solutions through our PowerView asset management software to optimize plant and portfolio performance for utility-scale solar.”

Annual report 2024A · The company itself

“Our extensive data library includes seismic data, magnetic and gravity data, multi-beam and coring, digital well logs and Ratio is measured on produced accounting principles (segment information) production data, wind energy data, data to identify carbon storage opportunities and other data related to the renewables sector. This rapid access to high quality seismic data enables oil companies to assess subsurface risks before applying for licenses over open acreage, support drilling decisions or guide nearfield exploration efforts in more mature areas.”

Annual report 2024A · The company itself

“We provide valuable market intelligence, data acquisition and integrated solutions for our clients in the CCUS, offshore wind and solar markets.”

Annual report 2024A · The company itself

“In addition to seismic data, TGS’ multi-client library includes several other types of geoscience data, such as gravity, magnetics, seep, geothermal, electromagnetic, multibeam and well data. • New Energy Solutions (NES): Provides market intelligence, data acquisition and integrated solutions, for TGS’ clients in the CCUS, offshore wind and solar markets.”

Annual report 2024A · The company itself

“The development of the NES business segment has extended our exposure beyond oil and gas, to include renewable energy and CCUS.”

Annual report 2024A · The company itself

“New Energy Solutions activities New Energy Solutions (NES) provides data and data-driven solutions to companies active within renewable energy and CCUS. The majority of the revenues are generated through service contracts, while there is a certain amount of subscription revenues and licensing of data owned by TGS that is recorded as multi-client sales.”

Annual report 2024A · The company itself

“Additionally, the New Energy Solutions business provides valuable exposure to fast-growing sectors, including solar energy, offshore wind energy, and CCUS.”

Annual report 2024A · The company itself

“Vår största positiva påverkan Begränsa klimatförändringarna tack vare användning av förnybar energi i våra produktionsanläggningar, optimering av transporter samt minskning av klimatavtryck vid produktutveckling av alla produktkategorier.”

Annual report 2023A · The company itself

“Andelen förnybar energi som används vid våra anläggningar (scope 2) ska genom aktiva inköp motsvara 100 procent fram till år 2030.”

Annual report 2023A · The company itself

“United Bankers tukee ilmastokestävää kasvua ja tarjoaa asiakkailleen myös mahdollisuuksia sijoittaa vihreään siirtymään tuotevalikoimansa kautta.”

Annual report 2025A · The company itself

“Yhtiö pyrkii sijoitustuotteillaan ja palveluillaan lisäämään mahdollisuuksia sijoittaa ilmastonmuutoksen torjuntaan sekä vihreän siirtymän edistämiseen esimerkiksi uusiutuvan energian- ja metsärahastojen kautta.”

Annual report 2025A · The company itself

“Yhteiskunnan sähköistymistä ja ilmastonmuutoksen torjunnan megatrendejä hyödyntävän UB Uusiutuva Energia -rahaston salkunhoidossa jatkettiin määrätietoista työtä hajautetun uusiutuvan energian salkun rakentamiseksi. Vihreä siirtymä, energiaomavaraisuuden vahvistaminen sekä datakeskushankkeet ja kaukolämmöntuotannon sähköistyminen lisäävät rakenteellisesti uusiutuvan energian kysyntää.”

Annual report 2025A · The company itself

“Näihin kuuluvat esimerkiksi tuuli- ja aurinkovoimaloista saatavat maanvuokratuotot.”

Annual report 2025A · The company itself

“The business area launched advanced hail forecast alerts within the Xweather Protect severe weather monitoring platform. The new capability provides solar energy operators with precise, site-specific warnings up to 60 minutes before hailstorms strike, enabling critical asset protection measures.”

Annual report 2025A · The company itself

“Ringfeder Power Transmission medverkar till ett hållbarare samhälle, inte minst genom sina lösningar för jordbävningsskydd samt produkter för att generera hydrooch solenergi.”

Annual report 2024A · The company itself

“We are proactively managing these constraints by continuously re-evaluating the business cases and timing of our planned development projects. This has led to the deferral or abandonment of some planned capital expenditures for our solar and battery projects and could impact the economic feasibility of additional projects in our new generation development pipeline.”

Annual report 2025A · The company itself

“Our ability to achieve the expected growth of our Vistra Zero portfolio, consisting of our solar generation, battery ESS, and other renewables development projects, is subject to substantial capital requirements and other significant uncertainties. We have a substantial capital allocation plan intended for investments in renewable assets, including solar development projects and battery ESS.”

Annual report 2025A · The company itself

“Our wholesale commodity risk management group also procures renewable energy credits from renewable generation in ERCOT and PJM to support our electricity sales to wholesale and retail customers to satisfy the increasing demand for renewable resources from such customers. As of December 31, 2025, Vistra had long-term agreements to procure renewable energy credits from approximately 950 MW of renewable generation.”

Annual report 2025A · The company itself

“Strategic energy transition focused on the reliability, affordability, and sustainability of electric grid. •Planned uprates at the Company's operating Perry Nuclear Power Plant (Perry), Davis-Besse Nuclear Power Plant (Davis-Besse), and Beaver Valley Nuclear Power Plant (Beaver Valley) would add 433 MW of incremental carbon-free nuclear energy and capacity to the PJM region commencing delivery on a portion of the uprate energy and capacity by 2031 and full delivery of the uprate energy and capacity by year end 2034. •We reached commercial operations at the Oak Hill solar facility in Texas totaling 200 MW of capacity and continued development and construction activities on additional facilities at retired or to-be-retired plant sites in Illinois.”

Annual report 2025A · The company itself

“MAFI är en marknadsledande leverantör av infästningslösningar för exempelvis telekom utrustning och solpaneler.”

Annual report 2024A · The company itself

“Supply chain disruptions, including solar panel shortages and delays, increasing material costs, government regulations and tariffs, and other factors, could impact the timing of completion of our renewable projects.”

Annual report 2025A · The company itself

“Advances in technology, and legislation or regulations supporting such technology, could make our electric generating facilities less competitive and may impact the demand for natural gas. Advances in new technologies that produce or store power or reduce power consumption are ongoing and include renewable energy technologies, customer-oriented generation, energy storage devices, and energy efficiency technologies.”

Annual report 2025A · The company itself

“Distributed generation technologies that produce power, including fuel cells, microturbines, wind turbines, solar cells, and related energy storage devices, have technologically improved and have become more cost competitive than they were in the past. Legislation, including the IRA and the Infrastructure Investment and Jobs Act, has promoted the construction and cost-effectiveness of renewable energy generation, including distributed generation technologies for self-supply of electricity by our customers and third parties.”

Annual report 2025A · The company itself

“Increased use of technologies such as private solar and battery storage in our service territories could reduce our recovery of fixed costs, could result in customers leaving the electric distribution system, and could cause an increase in customer net energy metering, which allows customers with private solar to receive bill credits for surplus power at the full retail amount.”

Annual report 2025A · The company itself

“Other legislation or regulations could be adopted supporting the use of these technologies at below cost or that permit third-party sales from such facilities, and allow these facilities to interconnect to our distribution system. There is also a risk that advances in technology will continue to reduce the costs of these alternative methods of producing power to a level that is competitive with that of central station and utility-scale renewable power production.”

Annual report 2025A · The company itself

“The production of energy from wind and solar sites depends heavily on suitable weather conditions, which are variable. Wind conditions or solar irradiance that is unfavorable or below our estimates can cause electricity production, and therefore revenues and PTCs earned from non-utility renewable energy facilities, to be substantially below our expectations.”

Annual report 2025A · The company itself

“Although initial agreements are often ten years or more, in the future we may not be able to replace expiring PPAs related to our non-utility renewable energy facilities with contracts on acceptable terms, including at prices that support profitable operation of the facility. Decreases in the retail prices of electricity supplied by traditional utilities or the pricing of other clean energy sources in the regions where our non-utility renewable energy facilities are located could harm our ability to offer competitive pricing and to sign PPAs with customers.”

Annual report 2025A · The company itself

“Electric distribution 972.2 946.4 973.3 Gas distribution 1,286.8 1,611.0 1,469.1 Total $ 5,018.1 $ 6,949.5 $ 6,965.6 The DOC set duties on solar panels and cells imported from four southeast Asian countries and is investigating additional AD/CVD allegations relating to Chinese-owned manufacturers in Laos and Indonesia, as well as India-headquartered companies. See Factors Affecting Results, Liquidity, and Capital Resources – Regulatory, Legislative, and Legal Matters – United States Department of Commerce Complaints and Factors Affecting Results, Liquidity, and Capital Resources – Regulatory, Legislative, and Legal Matters – Uyghur Forced Labor Prevention Act for information on the duties set by the DOC and its current investigation, as well as CBP actions, respectively.”

Annual report 2025A · The company itself

“Renewable Energy Legislation Infrastructure Investment and Jobs Act In November 2021, the Infrastructure Investment and Jobs Act was signed into law and provides for approximately $1.2 trillion of federal spending through 2026, including approximately $85 billion for investments in power, utilities, and renewables infrastructure across the United States. Funding from this Act supports the work we are doing to reduce GHG emissions and to strengthen and protect the energy grid.”

Annual report 2025A · The company itself

“In January 2025, disbursement of funds was paused until agency heads can determine whether grants, loans, contracts, and other disbursements are consistent with the current administration's energy policy. In some cases, the pause has disrupted, and could continue to disrupt, funding, temporarily or permanently, for infrastructure projects already in progress, may cause project delays and cancellations, and may impact continuing payment obligations for downstream contractors and suppliers.”

Annual report 2025A · The company itself

“One Big Beautiful Bill Act In July 2025, the OBBBA was signed into law, enacting significant modifications to clean-energy tax credits previously provided under the IRA. The OBBBA provides companies the ability to earn solar and wind tax credits at current credit rates if construction of projects begins by July 4, 2026, and the projects are placed in-service within four years after beginning construction.”

Annual report 2025A · The company itself

“However, wind and solar projects that begin construction more than one year after enactment of the OBBBA must be placed in service by December 31, 2027 to qualify for PTCs and ITCs. In addition, wind and solar projects that begin construction after December 31, 2025 must also satisfy prohibited foreign entity material assistance requirements.”

Annual report 2025A · The company itself

“Uyghur Forced Labor Prevention Act In June 2022, the CBP implemented the UFLPA, which establishes a rebuttable presumption that certain silica-based products wholly or partially manufactured in the Xinjiang Uyghur Autonomous Region of China, such as polysilicon included in the manufacturing of solar panels, are prohibited from entering the United States. While our suppliers have been able to provide the CBP sufficient documentation to meet the UFLPA compliance requirements, and we expect the same will be true for subsequent projects, we cannot currently predict what, if any, long-term impact the UFLPA will have on the overall supply of solar panels into the United States and whether we will experience any further impacts to the timing and cost of solar projects included in our long-term capital plan.”

Annual report 2025A · The company itself

“As a result of these duties, the cost and availability of solar panels in the U.S. has been impacted and the U.S. solar industry overall has experienced higher costs of materials as well as delays. Some of these impacts have already been reflected in the estimated cost and in-service dates for certain of our solar projects.”

Annual report 2025A · The company itself

“We also expect to continue constructing and investing in renewable energy and natural gas generating facilities as part of our capital plan and our goal to be net carbon neutral by the end of 2050.”

Annual report 2025A · The company itself

“WEC's portion of the investment in MISO Tranche 1 and Tranche 2.1 is estimated to be approximately $700 million and $400 million, respectively, between 2026 and 2030, a portion of which will be funded by ATC's cash from operations. Tranche 1 is part of MISO's Long Range Transmission Planning initiative to upgrade the grid so that it can reliably accommodate for the shift in generation to lower-carbon resources.”

Annual report 2025A · The company itself

“REGULATED Electric Facilities The following table summarizes information on our electric generation facilities, including owned and jointly owned facilities, as of December 31, 2025: Name Location Fuel Number of Generating Units Capacity In MW (1) Natural gas-fired plants PWGS Port Washington, WI Natural Gas 2 1,210 (3) Fox Energy Center Wrightstown, WI Natural Gas 3 579 Concord Generating Station Watertown, WI Natural Gas/Oil 4 367 Paris Union Grove, WI Natural Gas/Oil 4 360 VAPP Milwaukee, WI Natural Gas 2 278 Germantown Power Plant Germantown, WI Natural Gas/Oil 5 261 Whitewater Whitewater, WI Natural Gas/Oil 1 234 West Riverside Beloit, WI Natural Gas 1 190 (2) De Pere Energy Center De Pere, WI Natural Gas/Oil 1 170 West Marinette Power Plant Marinette, WI Natural Gas 3 149 Weston Rothschild, WI Natural Gas 7 130 F.D.”

Annual report 2025A · The company itself

“Infrastruktur för energi, batterilagring, solenergianläggningar och infrastruktur för fordon påverkar och har stor utvecklingspotential.”

Annual report 2024A · The company itself

“För att säkerställa tillgång till förnybar energi och minska mängden inköpt energi installerar vi solceller på utvalda fastigheter. 2024 genererade våra solceller 11 procent av beståndets totala behov av fastighetsel.”

Annual report 2024A · The company itself

“Dessutom installerar vi solceller på våra fastigheter vilket säkerställer att verksamheten får tillgång till förnybar energi.”

Annual report 2024A · The company itself

“Utbyggnaden av solcellssanläggningar har fortsatt under året och flera nya anläggningar har installerats. Totalt hade vi en installerad effekt om 7,5 MWp (5,7) i slutet av 2024. Dessa anläggningar har genererat 4 943 MWh (4 152) under 2024, vilket motsvarar 11 procent av Wihlborgs bestånds behov av fastighetsel.”

Annual report 2024A · The company itself

“Sedan 2023 har vi gjort en utökad satsning gemensamt med Varberg Energi på förnybar energi inom bolaget Bäckasol, som gäller byggnation och drift av två återbrukade vindkraftverk i Bäckagård, Tvååker, samt uppförande av en ny solcellspark strax söder om Varberg.”

Annual report 2024A · The company itself

“Strategiakaudella Infra-liiketoimintasegmentin kasvua tulevat vauhdittamaan pääasiassa energia- ja teollisuushankkeet, raideinfrastruktuuri ja puolustussektori. • Tavoitteena on saavuttaa vähintään 10 prosentin vuosittainen kasvu (päivitetty 6.2.2026, aiempi tavoite 5 prosenttia), vähintään 6 prosentin oikaistu liikevoittoprosentti sekä toimia jatkuvasti negatiivisella sitoutuneella pääomalla.”

Annual report 2025A · The company itself

“Solar panels cover around 4.5% of Copenhagen Airport's electricity consumption, while a power purchase agreement (PPA) supplies renewable energy certificates corresponding to the remaining 95.5%.”

Annual report 2025A · The company itself

“At our wholly owned depots in Kaoshung, Taiwan and Mumbai, India we have installed solar panels.”

Annual report 2024A · The company itself

“Vuonna 2025 Tokmanni -konserni tuotti 8 503 MWh:ta aurinkoenergiaa, josta 1 197 MWh myytiin sähköverkkoon.”

Annual report 2025A · The company itself

“Økende materialpriser som følge av kapasitet på teknologi/materialer med lavt utslipp Overgangsrisiko Teknologi Alle virksomhetsområder Lav Økte kostnader Veidekke følger markedene for materialer og byggevarer for å avdekke endringer i fremtidig kapasitet, og innfører tiltak dersom nødvendig.”

Annual report 2024A · The company itself