Letter From the Managing Director

Dear Clients, Partners and friends of act renewable,

As we approach the close of yet another transformative year, I find great pride in reflecting on some of the remarkable steps we’ve undertaken at act renewable in 2023. The strides we’ve made, the challenges we‘ve overcome, and the collective impact we’ve had on the corporate renewable energy transition are truly commendable.

In 2023, the global discourse on sustainable energy was a bit of a rollercoaster. In contrast, the energy crisis in Europe brought uncertainty to price and supply of energy, the corporate response being an uptake in demand for renewables.

As specialist advisors navigating a dynamic and ever-changing landscape, we adapt our solutions to reflect the demands and challenges our clients face in adopting renewable energy at scale. The key trends we have seen in 2023 focused around:

• Developing cross-country/regional renewable energy implementation roadmaps, to reflect the targets and timeline set by corporates and their suppliers.
• Replacing fossil fuel feedstocks for thermal energy globally with low carbon alternatives, such as electrification, temporary fuel-switch such as sustainable biomass, and exploration of new technologies such as Power-to-X.
• Large scale renewable energy procurement, which is growing fast in both advanced and liberalized markets (Europe) as well as in less mature, regulated markets (China).

Our projects and partnerships have thrived throughout the year; we concluded PPAs with our key clients Grundfos and STMicroelectronics, developed thermal renewable energy strategies with Fendt, and devised global renewable energy prioritization and transition solutions in Asia with Reckitt, to name a few. It is inspiring to see our clients’ ambitions realized and we are immensely proud to support them in their efforts as they unlock their renewable energy potential and drive down carbon emissions to the benefit of all.

Looking ahead to 2024, we are expecting to see further development on topics like the thermal renewable transition, renewable energy adoption in supply chains (scope 3) as well as an anticipated uptick in corporate renewable energy opportunities in Asia markets. We anticipate the latter will take-off as policies improve and corporates feel more secure in making long term commitments. It’s set to be a year of exciting prospects, but also of significant challenges against an increasingly urgent backdrop; the need for carbon emission reduction and renewable energy has never been greater.

In closing, I want to thank our Clients, our Partners, and our Investors for an inspiring year – thank you for your continued trust in our team and abilities. Last but not least, a huge thank you to the fantastic act renewable team. Never forget that though we work hard every day, it should also be interesting and fun!

Wishing you all a restful holiday season and looking forward to an impactful 2024, where we will continue to accelerate the corporate renewable energy transition.

Warm regards,

Rasmus Nedergaard