19 October 2021

Statkraft owns and operates renewable power plants as well as providing energy market related services for 3rdparties in Europe, South America and Asia. One of these is energy management services to renewable players in Europe. This means optimised commercial operation of a power plant is ensured through utilising Statkraft's technical and market expertise so that differences between forecasted and actual production (imbalances) of power plants that occur due to changing weather conditions are minimised. This service that also helps in security of energy supply, is provided to over 1000 power plants in Europe and around 50 in Turkey through service agreements. Vega is one of these renewable companies that Statkraft works with for better commercial operations in their wind farm.

There is a very structured legal process in place for land acquisitions in energy projects in Turkey. For privately owned lands this process is followed directly by the regulatory authority EMRA, that issues the production license. As the opposition to the project has become known, Statkraft has been in dialogue with Vega Energy to understand the situation. It is our understanding based on this dialogue that they have followed relevant legal procedures.