EAM Solar ASA 2015 AR2
The report highlights EAM Solar ASA's operations and financial performance for the fiscal year 2015, which was severely impacted by the unilateral termination of Feed-in-Tariff (FIT) contracts for 17 of its 21 acquired Italian solar power plants due to criminal proceedings against the sellers. Despite these challenges, the company's 25 power plants produced 37.8 GWh of renewable energy, although 22.9 GWh did not receive FIT revenues. EAM initiated extensive legal actions in Italy, Luxembourg, and Switzerland to recover damages exceeding EUR 200 million and was recognized as a victim of contractual fraud by the Criminal Court of Milan. The company also implemented cost-reduction measures and initiated financial restructuring for the affected subsidiaries.
Company: EAM Solar ASA
Sector: Energy utilities
Country: Norway
Year: 2015
Type: AR2
Pages: 54
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EAM Solar ASA
Annual Report
The report highlights EAM Solar ASA's operations and financial performance for the fiscal year 2015, which was severely impacted by the unilateral termination of Feed-in-Tariff (FIT) contracts for 17 of its 21 acquired Italian solar power plants due to criminal proceedings against the sellers. Despite these challenges, the company's 25 power plants produced 37.8 GWh of renewable energy, although 22.9 GWh did not receive FIT revenues. EAM initiated extensive legal actions in Italy, Luxembourg, and Switzerland to recover damages exceeding EUR 200 million and was recognized as a victim of contractual fraud by the Criminal Court of Milan. The company also implemented cost-reduction measures and initiated financial restructuring for the affected subsidiaries.
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Document Details
Report Year
2015
Reporting Period
Jan 1, 2015 - Dec 31, 2015
Fiscal Year
2015
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Materiality Assessment
Assurance
Assurance Standard
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Women on Board
Employees