"Norway has very ambitious goals for reducing energy use by 2030, and AF Gruppen is developing energy efficient and sustainable solutions that reduce energy use and strain on the power grid. We are now expanding our commitment to renewable energy through the acquisition of ETA Norge. Bioenergy is a preferred renewable energy source and a central part of future energy solutions when fossil fuels are phased out", says Eirik Wraal, EVP Energy and Environment.

The enterprise value on a 100 percent-basis for ETA Norge is up to NOK 110 million. The consideration consists of cash. A significant part of the settlement is contingent on the results in the period 2024-2026 and will be paid out in 2027 if the result target is achieved. ETA Norge will remain as a separate company and will be part of the Energy and Environment business area in AF Gruppen.