Stock Exchange Notice

Subject:
Notice of the first plant of Origo 1 (Uberlandia 2) solar PV project to be approved and energized by
CEMIG.
Stavanger/Oslo, Norway, 13. of August 2023 – Norsk Solar ("Norsk Solar", OSEBX ticker: NSOL) a
vertically integrated, independent solar power producer (IPP), announces that their first plant of
Origo 1 (Uberlandia 2) solar PV project has been approved and energized by CEMIG. This is the
first plant of the Origo Project, which currently consist of a portfolio of 12 projects, totalling 37 MW
in Brazil.
Norsk Solar announces that the first plant of the Origo 1 (Uberlandia 2) solar
PV project is approved and energized.
Norsk Solar is pleased to inform you that our first plant of the Origo 1 (Uberlandia 2) solar PV
project has been approved and energized by CEMIG. The Origo 1 project is situated in Minas
Gerais in Brazil consist of 6 different sites and has a capacity of 18 MW. It is the first of three
projects where Norsk Solar is acting as the sole IPP, and where the company is responsible for
development, financing and construction. The Origo team will work on the admin needed to secure
the purchase from the plant and we are expecting all 6 plants energized in the coming month.
Norsk Solar is committed to driving the transition towards renewable energy, and the successful
completion of the first plant of the Origo1 project reaffirms the dedication to sustainable
development. The project aligns with the vision of creating a cleaner and more sustainable future
for generations to come.
“This achievement is the first step for Norsk Solar to carry out the business plan in Brazil. The team
has done a magnificent job in bringing the construction to the final stage. I would like to reach out to
all involved parties and congratulate them on this achievement. This is the first project out of a fastgrowing project pipeline in Brazil”, says Torbjørn Elliot Kirkeby – Garstad, CEO of Norsk Solar.
“The Brazilian corporate and industrial market for solar is in rapid growth and we see great potential
for our value proposition. We further see that we are establishing a strong brand and securing a
good market entry position with these first projects in Brazil. Our ambition is to grow substantially as
a solar power producer for C&I clients in the Country over the next years.” says Mauro Benedetti,
Country Manager for Brazil in Norsk Solar.
The savings provided by this distributed generation model is quite significant for families, especially
in the challenging time we live in and considering the significant rise in the electricity needs that the
country is facing.
The project (Origo 1) will secure recurring revenue for 25 years, under the power purchase
agreement (PPA) terms with corporate off-taker Órigo Energia. As a pioneer in the Brazilian sector
of distributed generation, they provide clean energy, through the management of cooperatives, to
more than 15,000 customers, including households and small businesses. The generated energy
will be distributed in the form of credits to their customers, in line with our commitment to
democratize access to clean energy in Brazil, making it accessible to everyone, especially those at
the base of the social pyramid.
The development and construction of the projects have been done in partnership with GDSolar, a
pioneer and leader in the development of solar energy in Brazil with 61 operational plants and 202
MWp installed capacity.
The Norsk Solar team would like to express our gratitude to all our stakeholders, including
investors, partners, employees, and local communities, for their unwavering support throughout the
project`s development and execution. Through their collective efforts and collaborations, we have
achieved this significant milestone.
Should you require any additional information, please do not hesitate to contact our Investor
Relations
Ingrid Sara Grimstad Amundsgård
e-mail: ingrid.sara@norsksolar.co