Transparency Act-Jaeren – Eurus Energy Europe B.V.

Jæren Energi AS – Eurus Energy Norway AS Transparency Act

1. Introduction

The Act relating to enterprises’ transparency and work on fundamental human rights and decent working conditions (the ‘Transparency Act’) entered into force on 1st July 2022. The Act imposes the following obligations on certain larger enterprises in order to promote social sustainability in the enterprises themselves and the enterprises’ supply chains:

An obligation to conduct due diligence assessments (cf. the Act § 4)
An obligation to publish an account of the due diligence (cf. the Act § 5)
An obligation to provide information to «any person» who requests it in writing (cf. the Act § 6)

The Transparency Act applies to Jæren Energi AS hereafter referred to as the ‘company’. The company has conducted due diligence assessments in accordance with the Transparency Act’s requirements. The following sections contain the company’s account of the due diligence assessments.

2. General description of the company’s structure, area of operations, guidelines and procedures for handling actual and potential adverse impacts on fundamental human rights and decent working conditions

2.1. The company’s structure and area of operations

The company is a project company established to develop the Høg-Jæren EnergiPark wind farm, near Stavanger, Norway. The company operates in the renewable energy sector of the energy industry. The wind farm benefits from a favourable geographic location close to the coastline and a high wind regime.

As per the articles of association of the company, the board shall consist of from 1 to 5 members. There are no employees in the company. The windfarm is operated by Eurus Energy Norway AS personnel, and two of these employees are hired out to Jæren Energi AS, as CEO and Deputy. The company is majority owned (66%) by Eurus Energy Europe B.V. (‘Eurus Energy’), which in turn is owned by Toyota Tsusho Corporation. Eurus Energy develops, invests in and operates renewable energy projects worldwide, with a focus on onshore wind and photovoltaic projects.

2.2. Guidelines and procedures for handling actual and potential adverse impacts on fundamental human rights and decent working conditions

The company employs the “Eurus Energy Europe B.V. Quality, Health, Safety & Environment (QHSE) Policy” (the ‘QHSE Policy’), which extends the regulation in force and the rules adopted by Eurus Energy and the Eurus Group, intending to actively act in the quality, health, safety and environmental protection in its facilities and assets across Europe.

The QHSE Policy is based on two fundamental commitments:

(i) To ensure that quality, health, safety and environment are taken into account in all activities and make this a priority by:

Creating and ensuring the best possible health and safety environment by managing the risks following appropriate corrective actions;
Preventing any damage to property or environment as well as any accidents or injuries to our employees and third parties;
Ensuring all employees are qualified and receive appropriate training, information and supervision in order to perform their duties;
Encouraging all employees to take HSE as a personal responsibility and to actively promote the HSE culture within the company;
Complying with all legal requirements and related standards and regulations;
Continuously improving and monitoring our HSE performance by implementing an appropriate QHSE management system.

(ii) To assure the brand image and stakeholders’ satisfaction by:

Proactively assessing the Group HSE performance;
Taking into account stakeholders’ requirements.

This QHSE Policy covers the employees of the Eurus Group across Europe as well as all the contractors/subcontractors, and has to be implemented in all companies controlled by Eurus Energy Europe B.V. under management’s responsibility.

The company has a code of conduct based on Toyota Tsusho’s Code of Conduct, which is signed by all employees. The guidelines have been decided by management. The overall formal responsibility for conducting due diligence assessments (and supervising these) and overall compliance with the Transparency Act is placed with the Board of Directors. The CEO of the company is responsible for reviewing and evaluating the Transparency Act whereby due diligence assessments should be conducted annually for the entire supply chain and all business partners. Actual and potential negative consequences must be reported immediately to the CEO at the company.

In 2023, the company started a process of performing risk-based assessments of how human rights and labour rights are being affected within own our business and within our supply chain in line with the Transparency Act. The process which is based on the OECD Due Diligence Guidance for Responsible Business Conduct consisted of the following steps:

Anchoring accountability in the company’s internal guidelines,
Mapping operations, suppliers and business partners,
Classifying suppliers and business partners based on assessed risk,
Planning and initiated follow-up measures, and
Preparing this report on the results of the work conducted.

The project assessed the risks associated with the company’s suppliers concerning actual and potential violations of human rights and decent working conditions in our value chain. Following the assessment, the company will implement follow-up measures according to the risk categorisations. Efforts with the due diligence assessments have started and work will continue with the assessments going forward.

An annual statement in accordance with the Transparency Act will be prepared every year. This will contain information about actions to be taken to prevent or reduce negative consequences. The company will carry out annual due diligence assessments to capture any changes to the enterprises’ risk assessments. Communications of adverse impacts with those affected and the general public are handled by the Eurus Energy Europe Stakeholder Manager.

If adverse impacts are found, there are no central procedures for remediation and compensation; this would need to be dealt with on a case-by-case basis. However, the Company (Jaeren Energi AS) takes issues related to such impacts to human rights and decent working conditions very seriously, and would not proceed with the engagement of any party in which a serious risk related to such human rights and working conditions exists.

The Company does not have a supplier code of conduct. However, when working together with other parties, codes of conduct are sent to the Company to ensure that the suppliers adhere to the principles described in such code. Clauses to ensure that the Transparency Act’s requirements are met are becoming of greater significance and it is becoming more standard to include in new contracts. However, for existing (especially older) contracts, these have not always been included. The company monitors the situation in the suppliers’ and business partners’ businesses by carrying out annual due diligence assessments. The company does not control the supplier’s/business partner’s own compliance control.

The general public can contact the company for information requests by telephone on Monday to Friday during the hours of 07.00 am to 16.00 pm at the number 52 98 60 90 or 94 03 60 26 or by email at info@eurus-norway.com.

3. Actual adverse impacts and significant risks of adverse impacts that the company has identified through its due diligence

Any elevated risk in the company’s value chain would be associated with raw materials used in the company’s products. The complex value chain related to these materials makes it challenging to trace their origin. As a result, further investigations would be required. Seven of the company’s suppliers have been identified as possible elevated risk – two as high and five as medium – in connection with the following raw materials: Steel, copper, aluminum, PVC, rubber, plastic, ceramics, oil and chemicals, print cards, and capacitors.

However, overall, the risk among suppliers is relatively low based on the assessment of three reasons. First, the company is able to build and maintain close relations with most of its suppliers due to its low number of suppliers. Second, the company mainly buys workforce from its suppliers, which is assessed as a low risk. Third, this workforce is primarily sourced from Norwegian suppliers, which has a low territorial risk. Therefore, the overall risk is assessed as low. Based on the risk classification of companies, measures and follow-ups will be prioritized towards business areas and suppliers where the risk is considered the highest.

Through due diligence assessments, the company has not identified human rights violations or indecent working conditions in the value chain.

4. Measures the company has implemented or plans to implement to cease actual adverse impacts or mitigate significant risks of adverse impacts, and the results or expected results of these measures

The company is aware of the risks associated with its operations and the use of certain suppliers, and will continue to monitor suppliers and its operations accordingly.

4.1. Planned measures

The company has already started to send out supplier questionnaires, and analysis and planning of follow up on the responses received is taking place. Measures that the company plans to implement to mitigate or limit significant risks of negative consequences:

Follow-up meetings with suppliers
Supplier questionnaire related to human rights and decent working conditions
Contract clauses that grant the company the right to terminate in the event the counterparty is guilty of human rights violations and other unacceptable conditions.
Continuous monitoring and dialogue with suppliers

Koji Tsuchimoto

Managing Director

Mr. Tsuchimoto joined Eurus Energy Europe as the Managing Director in September 2021. He also serves as an executive officer taking charge of overseas business in Eurus Energy Holdings Corporation which is the parent company of Eurus Energy Europe and is a joint venture between Toyota Tsusho Corporation and Tokyo Electric Power Company. He has been engaged in the energy industry for more than 30 years and has worked for Eurus Energy Holdings Corporation since 2017.

Taichi Katayama

Director of Development

Taichi is one of the earliest members of the Amsterdam team. He has experience with development of projects in many different countries.

Javier Carrero Vicente

Director, Head of Asset Management

Javier has been working in the wind industry since the 90s involved in development, construction and maintenance of wind projects. Currently, as responsible of the Asset Management team in Europe, his main goal is to create a solid organization aimed at optimizing the European operational projects in an effective and efficient way and based on the worldwide experience and accumulated know-how.

Daan van Vulpen

Business development

Daan has joined Eurus Europe in 2017 and has been responsible for development, acquisition and financing of onshore wind projects in the Netherlands. He works closely with the partners of Eurus Energy and implements smart project management tools in order to optimize the development process and the transfer of the projects to asset management. Prior to joining Eurus Energy Daan spent three years working as a consultant Finance Ideas, focusing on sustainable investments in real estate.

Wouter van den Berg

Director, General Counsel

Wouter van den Berg is a Director of Eurus Energy Europe and part of its Management Committee. In his role as General Counsel, he is responsible for all of European legal affairs (Corporate, Business Development and Asset Management) and heads EEE’s legal team. Prior to joining Eurus Energy, Wouter worked as an associate with Clifford Chance focussing on corporate M&A and project finance and subsequently as legal counsel in an international construction company. He has 15 years of experience in the energy sector, having acted for banks, investors, developers and contractors. Wouter graduated with a Master of Laws degree from Utrecht University in the Netherlands and a LL.M. degree from Boston University in the USA and is qualified to practice both Dutch and New York law.

Yoshihiko Ohsa

General Manager, Engineering

Mr. Ohsa joined Eurus Energy Europe B.V. in March 2017 as General Manager of engineering part. His primary responsibility is to support all activity from development to O&M from in terms of the engineering part. So, He works closely with all teams to provide engineering part which should be taken into account and which will be related its commercial condition. Prior to this, Mr. Ohsa worked from 2005 in both developing projects as project manager and construction projects as construction manager in Japan and Korea. Furthermore, he played a role of HQ function for mainly European projects and Australia projects from the viewpoint of construction management including the review of wind resource analysis. He gained experience in comprehensive knowledge of wind energy industry from his career above.

Tsuruta

General manager

Mr.Tsuruta re-joined Eurus Energy Europe in April 2019 as General Manager in charge of Business Planning and Human Resources. Prior to this assignment, he worked at several departments in Eurus’ head office in Tokyo such as Business Development, Human Resources, Safety Management and Information System from 2013 to 2019. Mr.Tsuruta has gained overseas business experience for renewable energy for more than 12 years at Eurus in Barcelona and London in addition to more than 20 yeas of experience in Japan. Mr.Tsuruta majored in Sociology at Hosei University in Tokyo and also studied as an exchange program student with scholarship at Baylor University in Texas.

Tomomi Ara

Accounting assistant

Tomomi Ara joined Eurus as Accounting Assistant in July 2017. Experienced accounting/administration work in Japan and the Netherlands. She is responsible for assisting Accounting & Finance manager and bookkeeping for EEE and the group companies in Europe.

Teemu Vekkeli

Technical manager

Teemu Vekkeli joined Eurus Energy Europe in 2019 as O&M Technical Manager in the Asset Management team. Mr. Vekkeli is responsible for the technical aspects of the entire EEE portfolio. Prior to joining EEE, he served in various engineering and management roles in both onshore and offshore wind energy since 2007. Mr. Vekkeli holds a M.Sc in Engineering from TUT, Finland.

Rik Frankfort

Business development manager

Rik Frankfort joined Eurus as business development manager in January 2019. He works on project acquisition, development and financing, with a focus on (corporate) power purchase agreements. Prior to joining Eurus, he worked as an originator of renewable energy contracts across Europe for a Dutch utility. He holds a Master of Science degree from Eindhoven University of Technology. Rik is driven to work towards a energy system that is sustainable, reliable and affordable for everyone. He believes that creative solutions and strong partnerships are key for reaching these goals. If you are interested in working together, please get in touch via e-mail or LinkedIn.

Carolien Ijzerman

Office Manager

Carolien joined Eurus in 2017 and ensures for a smooth running of the office. Her job ranges from day to day administration to supporting members of every team at Eurus. Prior to working at Eurus Energy Carolien has worked at Mitsubishi Aircraft Corporation Europe. Carolien holds a bachelor’s degree in Japan studies from Leiden University.

Daniel

QHSE Manager

Daniel joined Eurus Energy Europe on April 1st 2019 as the new Quality Health Safety and Environment Manager within the Asset Management team. He is responsible of managing QHSE related topics across the European portfolio as well as providing support to the Asset Management teams. His aim is also to improve the HSE Performance of O&M Contractors / Subcontractors through implementation of audits. Prior to joining EEE, Daniel worked in Poland for EDF Renewables in the Operation & Maintenance of onshore windfarms. Earlier, he also worked for few years as an HSE consultant in France and in French overseas territories. Daniel, originally from Nantes (FR), graduated from EME - Ecole des Metiers de l’Environnement in 2012 where he received his Environmental Engineer Diploma focusing on Renewable Energies.

Bram de Roos

Business development manager

Bram de Roos joined Eurus in May 2019 as Business Development Manager and has a focus on the financing of Eurus’ projects. Next to arranging project finance debt, he also works on other aspects of project development leading to Financial Close, especially in the Netherlands. Throughout his career, Bram has worked at several banks including ING and Triodos focussing on project finance transactions in the renewables space. He has experience in the full range of technologies from offshore wind to concentrated solar power throughout Europe and the Middle East. He obtained a dual Bachelor of Arts in Japanese Studies and Political Science at Leiden University, and a Master of Arts in International Trade and Investment Policy from the George Washington University in Washington DC.

Sharif Soliman

Legal Counsil

Sharif Soliman is Legal Counsel within Eurus Energy Europe, involved in all of its legal affairs (Corporate, Business Development and Asset Management). Before joining Eurus, Sharif was admitted to the Amsterdam Bar and an associate at the Corporate M&A section of NautaDutilh, where he advised both national and international clients on a wide range of corporate law issues, including corporate governance, corporate structuring, mergers, acquisitions, joint ventures and directors' and officers' liability. In addition to his experience in corporate law, he has gained experience in corporate litigation, commercial arbitration, investment arbitration, setting-aside proceedings and internal investigations. Sharif also has experience as a corporate legal counsel at Rabobank Group, where he focussed on international and national sustainability projects. Sharif studied at Vrije Universiteit, where he obtained a LL.B. in Dutch law (honours & cum laude) and a LL.M. in Business law (cum laude).

Frank Hoiting

Business Development

Frank started his working life as a technical officer in the merchant marine and cruise ships, travelled around the world for 10 years. Fascinated by encountering the natural elements: water, sun and wind. Therefore made the switch to renewable energy more than 20 years ago, after several marketing & sales and management jobs in energy and infrastructure. It is a great challenge to strengthen the Eurus Business Development team. Will use all my experience and knowledge for the new Eurus strategy for the own development of renewable business.