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As a company that is active in the construction of renewable energy facilities and energy storage, Eolus has a key role to play in the social transition. By developing projects and establishing facilities at the lowest possible cost per generated MWh, the company is contributing to a cost-efficient reduction of CO2 emissions. 

The company’s operations touch on all three pillars of sustainability: economic, environmental and social. Eolus therefore has a responsibility as a stakeholder in society – in addition to generating profit for shareholders, supplying cost-effective solutions to customers and giving employees meaningful work that helps them to develop. There is no contradiction in taking a responsible approach. On the contrary – it is a competitive advantage and a prerequisite for future success.

Changing market provides opportunities

Renewable electricity generation is playing an increasingly important role in the global energy mix and will play an even greater role moving forward. In the New Energy Outlook 2020, Bloomberg New Energy Finance (BNEF) predicts that wind and solar technologies will account for 56% of the world’s electricity generation by 2050. This can be compared with 9% at present, and should also be seen in light of the significant increase in worldwide electricity demand. The transition is being driven by lower installation costs for wind, solar and various energy storage technologies, primarily batteries. This shift is challenging existing business models and presenting new business opportunities for those who are embracing the change, rather than sticking to past truths and old business models. The company’s business concept and operations provide the foundations for Eolus to be part of this future, just as the company has adapted to various market changes since its inception in 1990.

Renewable resources

Wind and solar are resources that are constantly being renewed and are also an input in electricity generation that is free of charge. As technology develops, so the costs of generating renewable electricity have fallen. Continued cost reductions are leading to further falls in cost per generated kWh. Once a wind farm or PV facility has come to the end of its technical and economic life, it can be dismantled and the land or site where the facility stood can be used either for new electricity generation from new facilities or restored and used for purposes other than electricity generation.

Co-existence process

Project development and permitting of renewable energy facilities is subject to a number of laws and regulations. The aim is to ensure that the facilities can co-exist with other community interests such as local residents, nature and wildlife, military and other critical infrastructure. Permitting is preceded by a democratic process where various stakeholders are able to present their views, and a number of surveys are conducted. During operation, the facilities must comply with a range of conditions, which for wind power include noise emission and shadow casting. With our long experience in renewable energy, Eolus has extensive knowledge of where and how wind farms and facilities for renewable energy and energy storage should be installed for optimal electricity generation or storage while showing consideration for other community interests. Value creation is inherent to our long experience – including the ability to take into account people, nature, the environment and society across the entire value chain. 

Proper and transparent

Eolus aims to be a respected company that creates value for its stakeholders and is an attractive partner in the transition to a sustainable society. The company’s employees must act in a proper, objective and honest manner. The same demands are also made of consultants, suppliers and other partners. All business relationships must be characterised by impartiality. Eolus strives to achieve a high level of transparency in relation to shareholders and society in general.