AXEL THIEMANN

Chief Executive Officer

In 2022, we transformed from a solar independent power producer (IPP) into a leading renewable energy producer, triggered by the acquisition of the 290MW solar and wind platform Arco Energy in Chile. Sonnedix had long been preparing for this evolution however, by expanding our geographical footprint and focusing on digital transformation and innovation.

Our global platform grew to surpass 8.5GW of total capacity in 2022. We entered two new markets: Poland, with a platform acquisition of almost 1GW of solar PV under development, and Portugal, with the acquisition of a 262MW late stage development solar portfolio. We expanded our presence in the UK market, through the acquisition of 300MW of solar PV under development, and also in the US market, with a new 160MW solar project in Colorado. We signalled our commitment to digitalisation by partnering with Palantir Technologies, a leader in Artificial Intelligence, to support our digital transformation. Similarly, we increased our focus on innovation by exploring hybridisation via multi-technology generation, that will allow us to get closer to our customers, increase our flexibility and create more value for our shareholders.

Our position as a global renewable energy producer puts us at the forefront of the energy transition, but this is not enough for us. We also want to ensure that the transition to renewables will be sustainable, inclusive and just. This is why we seek to go beyond business as usual and ensure that, as we grow, we continue to tackle both our own and our value chain footprint, enhance local ecosystems, work with our peers to address human rights risks in renewables supply chains and foster diversity, equity, and inclusion. We thus implemented several initiatives over 2022 to contribute to such a just and equitable transition and as a result, met a number of key milestones from our Sustainability Strategy. As part of our commitment to net zero by 2040, we started the year by commencing a cross-functional collaboration on the development of the net zero roadmap outlining our pathway to reach this formidable and critical goal. Following the outbreak of the Ukraine war, we launched a ‘Give it Up for Ukraine’ campaign in March which raised over EUR50,000 of employee and Company donations for organisations in Poland helping Ukrainian refugees fleeing the war. We continued to endorse and support the work of solar power associations aimed at increasing transparency and responsibility in the solar supply chains.

We witnessed the launch of the Solar Stewardship Initiative in October of which we are a proud sponsor along with other key industry players. We significantly improved our health and safety culture, seeing a sharp decrease in LTIF from 3.5 in 2021 to 2.2 in 2022. In November, we hosted Sonnedix’s first Global Diversity, Equity and Inclusion (DEI) Summit, an event attended by more than 100 participants from over 20 different energy and infrastructure companies.

The Summit was an opportunity to share experiences in elevating DEI in workplaces and learn from each other. We finished the year on a high by reaching over 300,000 learners in 2022 against our annual target of 45,000 and we were also delighted that 2022 was the fifth consecutive year we have been awarded a maximum 5* rating by GRESB in recognition of our ESG performance.

Looking ahead, we recognise that regulators, investors, insurers and communities increasingly demand more transparency and standardisation in relation to companies’ sustainability-related risk and performance. This report is our tool for increasing transparency and accountability for our non-financial performance and is produced with reference to the Global Reporting Initiative. Whilst no reporting standards are perfect and Sonnedix is not yet where we want to be in terms of our non-financial reporting, we are continuously working to improve it in line with the best industry practice. As such we will continue to align with the latest EFRAG (European Financial Reporting Advisory Group) and TCFD (Task Force on Climate-related Financial Disclosures) guidelines in the coming years and work on better integrating non-financial and financial reporting whilst maintaining a high sustainability performance.”