A New Power Plant in the Renewable Energy Portfolio

November 29 was a great day for Clemens Kraft, the fund's subsidiary, and for Kvam Municipality, as Tokagjelet was opened after four years of construction. With distinguished guests in attendance, the ribbon-cutting ceremony was carried out by Ove Trellevik, Member of Parliament for the Conservative Party, and Frode Nygård, Deputy Mayor of Kvam Municipality.

With an annual production of 75.6 GWh, generated by two Pelton turbines with a combined capacity of 27 MW, the power plant will be able to supply approximately 3,024 households with electricity, based on a consumption of 25,000 kWh per household. Construction began in 2018 and represents Clemens Kraft's largest individual project. More than 60 guests attended the opening, including contractors, suppliers, banks, landowners, neighbours and local politicians.

Knud Nørve of Clemens Kraft emphasised the power plant's contribution as renewable and much-needed energy for the future. There is good reason to be proud—and we on the "parent side" extend our warmest congratulations on the occasion.