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"ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f6232": { "value": "3865999", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "s9_notes__7__5": { "value": "NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSNOTE 01 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThe consolidated financial statements of EAM for the year ending 31 December 2022 were authorised for issuance by the board on 25 April 2022.EAM is a public limited liability company, incorporated and domiciled in Norway, with registered office at Bryggetorget 7, NO-0250 Oslo, Norway. The Company was founded on 5 January 2011 and listed on the Oslo Stock Exchange under the ticker \u201cEAM\u201d in 2013. EAM Solar ASA is the parent company of the Group. The primary business activity of EAM is both to own solar photovoltaic power plants and sell electricity under long-term fixed price sales contracts, and to pursue legal proceedings in order to restore company values. EAM was structured to create a steady long-term dividend yield for its shareholders. Following the P31 Acquisition, the main value of EAM is dependent on the future outcome of litigation activities.EAM currently owns 4 photovoltaic power plants through a holding company and 2 subsidiaries in Italy. The Company has no employees.01.01 Basis for preparation of the financial statementThe EAM Group\u2019s consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted by the EU and mandatory for financial years beginning on or after 1 January 2022.The consolidated financial statements are based on historical cost. In addi-tion, interest rate swaps used for hedging is measured at fair value.The consolidated financial statements have been prepared on the basis of uniform accounting principles for similar transactions and events under similar circumstances.The Group\u2019s presentation currency is Euro (EUR) and the parent company\u2019s functional currency is Norwegian Krone (NOK). The majority of the Group\u2019s revenue and cost are in Euro, thus the group accounts are presented in Euro. Balance sheet items in the Group companies with a functional currency other than EUR are converted to Euro by applying the currency rate appli-cable on the balance sheet date. Currency translation differences are booked against other comprehensive income. Income statement items are converted by applying the average currency rate for the period.The financial statements and figures presented in the directors\u2019 report are prepared under the assumption of going concern. The reason for preparing the financial statements as going concern is due to the board\u2019s opinion that the Group has sufficient liquidity for the next twelve months. The board and manager are placing all their effort into operating the Company in a prudent manner, pending the legal proceedings that is expected to ultimately solve the situation for EAM.01.02 Consolidation principlesThe consolidated financial statements comprise the financial statements of the Group and its subsidiaries at 31 December 2022.Subsidiaries are fully consolidated from the date of acquisition, being the date on which the Group obtains control, and continue to be consolidated until the date when such control ceases. The financial statements of the subsidiaries are prepared for the same reporting period as the parent company, using consistent accounting policies. All intra-group balances, transactions, unrealised gains and losses resulting from intragroup transac-tions and dividends are eliminated in full.The acquisition method is applied when accounting for business combi-nations. A change in the ownership interest of a subsidiary, without loss of control, is accounted for as an equity transaction. If the Group loses control over a subsidiary, it:\u2022 Derecognises the assets (including goodwill) and liabilities of the subsidiary\u2022 Derecognises the carrying amount of any non-controlling interest\u2022 Derecognises the cumulative transaction differences recorded in equity\u2022 Recognises the fair value of any investment retained\u2022 Recognises any surplus or deficit in profit or loss\u2022 Reclassifies the parent\u2019s share of components previously recognised in other comprehensive income to profit or loss or retained earnings, as appropriate.01.03 Use of estimates in the financial statementsManagement has used estimates and assumptions that have affected assets, liabilities, incomes, expenses, deferred tax asset and information on poten-tial liabilities.Future events may lead to estimates being changed and estimates and their underlying assumptions are reviewed on a regular basis. Changes in accounting estimates are recognised during the period when the changes take place. If the changes also apply to future periods, the effect is accounted for prospectively. See also note 4.01.04 Foreign currencyThe Group\u2019s consolidated financial statements are presented in EUR. Each entity in the Group determines its own functional currency, and items included in the financial statements of each entity are measured using that functional currency.Transactions in foreign currencyTransactions in foreign currency are translated at the rate applicable on the transaction date. Monetary items in a foreign currency are translated into the functional currency using the exchange rate applicable at the end of the reporting period.Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchanges at the date when the fair value is determined. Change in exchange rates are recognised in the statement of comprehensive income as they occur during the accounting period.Foreign operationsOn consolidation, the assets and liabilities of operations with a functional currency other than the EUR are translated to EUR at the rate of exchange prevailing at the reporting date and their statements of comprehensive income are translated at exchange rates prevailing at the dates of the trans-actions.The average exchange rates are used as an approximation of the transaction exchange rate. The exchange differences arising on translation for consolida-tion are recognised in other comprehensive income. On disposal of a foreign operation, the accumulated translation differences relating to the subsidiary are recognised in the statement of comprehensive income.Translation differences arising from the translation of a net investment in foreign operations are specified as translation differences in the statement of equity.01.05 Revenue recognitionRevenue is recognized when a customer obtains control of the goods or services.Sale of solar powerEAM owns and operates four solar power plants in Italy, which generate electricity. Revenue from the sale of electricity is recognised in the statement of comprehensive income once delivery has taken place and the risk and return have been transferred.All EAM\u2019s electricity sales are made under 20-year sale agreements in the feed-in-tariff (FIT) scheme, with the Italian renewable energy authority Gestore Servizi Energetici (GSE) as commercial counterparty.In 2022 the Italian authorities set a limit on the market price to be realised for renewable energy and makde the reductions applicable for companies with FIT contracts. More information on the Sostegni Ter Decree can be found under Financial Review above.In previous years, the fixed price sales contracts (FIT) accounted for approx-imately 80 per cent of revenues, with electricity sales at market prices accounting for approximately 20 per cent. This was substantially changed in 2022 where the FIT revenue accounted for approximately 40 per cent and market price revenue accounted for approximately 60 per cent of the revenue, prior to taking reduction under the Decree into consideration.Market price contracts are renewed yearly.Interest incomeFor all financial instruments measured at amortised cost, interest income or expense is recorded using the effective interest rate (EIR), which is the rate which exactly discounts the estimated future cash payments or receipts through the expected life of the financial instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset or liability. Interest income is included in finance income in the statement of comprehensive income.01.06 SegmentsThe Group owns and operates four solar PV power plants in Italy as of year-end 2022 and thus only one segment both geographically and nature wise. Further information relating to segments is presented in note 9.01.07 Income taxIncome tax consists of tax payable and changes to deferred tax. Deferred tax liability/tax asset is calculated on all differences between the carrying and tax value of assets and liabilities, with the exception of temporary differences related to investments in subsidiaries where the Group controls when the temporary differences are to be reversed and this is not expected to take place in the foreseeable future.Deferred tax assets are recognised when it is probable that the company will have a sufficient profit for tax purposes in subsequent periods to utilise the deferred tax asset. The companies recognise previously unrecognised deferred tax assets to the extent it has become probable that the company can utilise the deferred tax asset. Similarly, the company will reduce a deferred tax asset to the extent that the company no longer regards it as probable that it can utilise the deferred tax asset.Deferred tax liability and deferred tax asset are measured on the basis of the expected future tax rates applicable to the companies in the Group where temporary differences have arisen.Deferred tax liability and deferred tax asset are recognised at their nominal value and classified as non-current asset investments (long-term liabilities) in the balance sheet. Tax payable and deferred tax are recognised directly in equity to the extent that they relate to equity transactions.01.08 Property, plant and equipmentAll property, plant, and equipment (including solar power plants) are valued at their cost less accumulated depreciation and impairment. When assets are sold or disposed of, the carrying amount is derecognised and any gain or loss is recognised in the statement of comprehensive income.The cost of tangible non-current assets is the purchase price, including taxes/duties and costs directly linked to preparing the asset for its intended use. Costs incurred after the asset is in use, such as regular maintenance costs, are recognised in the statement of comprehensive income as incurred, while other costs expected to provide future financial benefits are capital-ised.Depreciation is calculated using the straight-line method over the following useful lives:\u2022 Movers, modules and cable connectors 20 years\u2022 Land lease rights 25 yearsThe depreciation period and method are assessed each year. A residual value is estimated at each year-end, and changes to the estimated residual value are recognised as a change in an estimate.01.09 LeasesThe Group has adopted IFRS 16 from 1 January 2019. The standard replaces IAS 17 \u2018Leases\u2019 and for lessees eliminates the classifications of operating leases and finance leases.Right-of-use assetsA right-of-use asset is recognised at the commencement date of a lease. The right-of-use asset is measured at cost, which comprises the initial amount of the lease liability, adjusted for, as applicable, any lease payments made at or before the commencement date net of any lease incentives received, any initial direct costs incurred, and, except where included in the cost of inventories, an estimate of costs expected to be incurred for dismantling and removing the underlying asset, and restoring the site or asset.Right-of-use assets are depreciated on a straight-line basis over the unex-pired period of the lease or the estimated useful life of the asset, whichever is the shorter. Right-of use assets are subject to impairment or adjusted for any remeasurement of lease liabilities.Lease liabilitiesA lease liability is recognised at the commencement date of a lease. The lease liability is initially recognised at the present value of the lease payments to be made over the term of the lease, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the consolidated entity\u2019s incremental borrowing rate. Lease payments comprise of fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, amounts expected to be paid under residual value guarantees, exercise price of a purchase option when the exercise of the option is reasonably certain to occur, and any anticipated termination penalties. The variable lease payments that do not depend on an index or a rate are expensed in the period in which they are incurred.Lease liabilities are measured at amortised cost using the effective interest method. The carrying amounts are remeasured if there is a change in the following: future lease payments arising from a change in an index, or a rate used; residual guarantee; lease term; certainty of a purchase option and termination penalties. When a lease liability is remeasured, an adjustment is made to the corresponding right-of use asset, or to profit or loss if the carrying amount of the right-of-use asset is fully written down.01.10 Business combinations and goodwillBusiness combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, measured at acquisition-date fair value and at the amount of any non-controlling interest in the acquired company. For each business combination, the Group elects whether it measures the non-controlling interest in the acquired company either at fair value or at the proportionate share of the acquired company\u2019s identifiable net assets. Acquisition costs incurred are expensed.When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accord-ance with the contractual terms, economic circumstances and pertinent conditions at the acquisition date. This includes the separation of embedded derivatives in host contracts by the acquired company.If the business combination is achieved in stages, the acquisition date fair value of the acquirer\u2019s previously held equity interest in the acquired company is measured to fair value at the acquisition date through profit and loss.Contingent consideration to be transferred by the acquirer is recognised at the acquisition-date fair value. Subsequent changes in the fair value of the contingent consideration classified as an asset or liability is recognised in profit or loss. Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity.Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognised for non-controlling interest over the net identifiable assets acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsid-iary acquired, the difference is recognised as profit or loss.After initial recording, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group\u2019s cash-generating units which are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquire are assigned to those units.Where goodwill forms part of a cash-generating unit and part of the operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss of the operation. Goodwill disposed of in this circumstance is measured on the basis of the relative value of the opera-tion disposed of and the portion of the cash-generating unit retained.Bargain purchase transactionsIf the net of the acquisition-date fair values of identifiable assets acquired and the liabilities assumed exceeds the aggregate of the consideration transferred (measured at acquisition-date fair value), the excess amount is recognised as a gain in the statement of comprehensive income on the acquisition date. Having done so, the company has reviewed the procedures used to measure all of the following:\u2022 the identifiable assets acquired, and liabilities assumed\u2022 the non-controlling interest in the acquired, if any\u2022 The consideration transferred01.11 Classification and measurement of financial assets and liabilitiesTrade and other receivablesTrade receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any allowance for expected credit losses. Trade receivables are generally due for settlement within 60 days for the feed-in-tariff contracts, and 15 days for the market price contracts.The Group has applied the simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance. To measure the expected credit losses, trade receivables have been grouped based on days overdue.Other receivables are recognised at amortised cost, less any allowance for expected credit losses.Trade and other payablesThese amounts represent liabilities for goods and services provided to the Group prior to the end of the financial year and which are unpaid. Due to their short-term nature, they are measured at amortised cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition.01.12 Cash and cash equivalentsCash includes cash in hand, at the bank or cash seized by the Prosecutors Office of Milan.Cash equivalents are short-term liquid investments which can be immedi-ately converted into a known amount of cash and have a maximum term to maturity of three months.01.13 EquityCosts of equity transactionsTransaction costs directly related to an equity transaction are recognised directly in equity after deducting tax expenses.01.14 ProvisionsA provision is recognised when the Group has an obligation (legal or constructive) as a result of a previous event, it is probable (more likely than not) that a financial settlement will take place as a result of this obligation, and the size of the amount can be measured reliably. If the effect is consid-erable, the provision is calculated by discounting estimated future cash flows using a discount rate before tax which reflects the market\u2019s pricing of the time value of money and, if relevant, risks specifically linked to the obligation.Restructuring provisions are recognised when the Group has approved a detailed, formal restructuring plan and the restructuring has either started or been publicly announced.Provisions for loss-making contracts are recognised when the Group\u2019s estimated revenues from a contract are lower than unavoidable costs that were incurred to meet the obligations pursuant to the contract.01.15 Contingent liabilities and assetsContingent liabilities are not recognised in the annual accounts. Significant contingent liabilities are disclosed, with the exception of contingent liabili-ties that are unlikely to be incurred.Contingent assets are not recognised in the annual accounts but are disclosed if there is a certain probability that a benefit will be added to the Group.01.16 Current/non-current classificationAssets and liabilities are presented on the basis of current and non-current classification.An asset is classified as current when it is expected to be sold or utilised or sold in the consolidated entity\u2019s normal operating cycle, or within 12 months after the reporting period, all other assets are classified as non-current.A liability is classified as current when it is expected to be paid in the consoli-dated entity\u2019s normal operating cycle or within 12 months after the reporting period, all other liabilities are classified as non-current.Deferred tax assets and liabilities are always classified as non-current.01.17 Derivative financial instruments and hedging activitiesDerivatives at fair value not classified as hedging instruments are carried in the statement of financial position at fair value with net changes in fair value in profit and loss statement.The categories include foreign exchange contracts and interest rate swaps.01.18 Earnings per shareEarnings per share are calculated by dividing the majority shareholders\u2019 share of the profit/loss for the period by the weighted average number of ordinary shares outstanding over the course of the period. When calculating diluted earnings per share, the average number of shares outstanding is adjusted for all share options that have a potential dilutive effect. Options that have a dilutive effect are treated as shares from the date they are issued.01.19 Intangible assetsIntangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intan-gible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates.01.20 Events after the reporting periodNew information on the Company\u2019s financial position at the end of the reporting period, which becomes known after the reporting period, is recorded in the annual accounts. Events after the reporting period which do not affect the Company\u2019s financial position at the end of the reporting period, but which will affect the Company\u2019s financial position in the future are disclosed if significant. See note 22.01.21 Application of new IFRS requirementsFor the preparation of these consolidated financial statements, no new standards were adopted from 1 January 2022.01.22 New standards and interpretations not yet adoptedAccounting Standards that have recently been issued or amended but are not yet mandatory, have not been early adopted by the Group for the annual reporting period ended 31 December 2022. The Group has assessed the impact of these new or amended Accounting Standards and Interpretations and considers two of the amendments to be relevant for the Group:Amendments to IAS 1 - Classification of Liabilities as Current or Non-CurrentThe International Accounting Standards Board has issued amendments to IAS 1 Presentation of Financial Statements to clarify how to classify debt and other liabilities as current or non-current. The amendments aim to promote consistency in applying the requirements by helping companies determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or poten-tially due to be settled within one year) or non-current. The amendments include clarifying the classification requirements for debt a company might settle by converting it into equity.The amendments clarify:\u2022 The meaning of right to defer settlement\u2022 That the right to defer must exist at the end of the reporting period\u2022 That classification is not affected by the probability that an entity will exercise its deferral right\u2022 That the terms of a liability would not impact its classification, only if an embedded derivative is an equity instrument itself.The amendments must be applied retrospectively and are effective for annual periods beginning on or after 1 January 2023. The Group does not intend to early adopt the amendments. It is not expected that the amend-ments will have any significant effect to the financial statement of the Company.Amendments to IAS 1 and IFRS Practice Statement 2 - Disclosure of Accounting policiesFollowing feedback that more guidance was needed to help companies decide what accounting policy information should be disclosed, IASB has issued amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements. The amendments to IAS 1 require companies to disclose their material accounting policy infor-mation rather than their significant accounting policies. The amendments to IFRS Practice Statement 2 provide guidance on how to apply the concept of materiality to accounting policy disclosures.The amendments are effective for annual periods beginning on or after 1 January 2023, but earlier application is permitted as long as this fact is disclosed. The Group does not intend to early adopt the amendments.The change may have some effect on the presentation of the accounting policies in the financial statement for 2023, but there is not expected to be significant changes.NOTE 02 ALTERNATIVE PERFORMANCE MEASURES \u201cAPMS\u201dEAM uses financial performance measures not within the applicable financial reporting framework also referred to as Alternative performance measures or APMs. These are used to give the reader relevant figures for comparison, analysis, and additional information. The Company uses the APMs in a consistent and transparent manner to make it understandable to users of the financial reports.In order to provide a basis for analysis the Company presents EBITDA, EBIT, equity ratio and working capital.Definitions:EBITDA \u2013 Earnings Before Interest, Tax, Depreciation and Amortisation. Used as a measure of overall financial performance and indicator for cash that is available to pay debt.EBIT - Earnings Before Interest and Tax. Used as an indicator of a company's profitability.Equity ratio - Equity as a percentage of total assets at the end of the period. Shows financial position.Working capital - Total current assets minus total current liabilities. Used as a a measure of a company\u2019s liquidity, operational efficiency, and short-term financial health.EBITDA (EUR) 2022 2021Revenue 1 221 073 1 333 522Total revenue 1 221 073 1 333 522Cost of operations (813 734) (236 682)Sales, general and administration expenses (949 613) (889 894)Legal costs (1 386 837) (2 498 623)Operating profit before depreciation and amortisation (EBITDA) (1 929 111) (2 291 678)EBIT (EUR)2022 2021Revenue 1 221 073 1 333 522Total revenue 1 221 073 1 333 522Cost of operations (813 734) (236 682)Sales, general and administration expenses (949 613) (889 894)Legal costs (1 386 837) (2 498 623)Operating profit before depreciation and amortisation (EBITDA) (1 929 111) (2 291 678)Depreciation, amortizations and write downs (563 575) (562 378)Operating profit (EBIT) (2 492 686) (2 854 055)Equity ratio (EUR)31 Dec 2022 31 Dec 2021TOTAL ASSETS divided by TOTAL EQUITY 10 659 199 / 3 865 999 13 658 754 / 6 770 782Equity ratio 36.3% 49.6%Working capital (EUR)31 Dec 2022 31 Dec 2021Total current assets 4 273 803 6 572 814-Total current liabilities 2 304 526 2 029 093= Working capital 1 969 277 4 543 721NOTE 03 LIST OF SUBSIDIARIESThe following subsidiaries are included in the consolidated financial statements. Profit and equity below is from the last audited financial statements of the subsidiaries (2021), presented in ITA GAAP.Company Country Principal activity Ownership Vote Profit Equity2021EAM Solar Italy Holding Srl Italy Holding company 100% 100% (3 094 069) (2 979 069)Ens Solar One Srl Italy Solar power plant 100% 100% (60 120) 187 052Energia Fotovoltaica 25 Srl Italy Solar power plant 100% 100% 63 865 270 562 All subsidiaries based in Italy have registered office at Piazza Cinque Giornate 10, 20129 Milano, Italy.EAM Solar ASA Energia Fotovoltaica 25 Srl (IT)EAM Solar Italy Holding Srl (IT) ENS Solar One Srl (IT)ENFO 25 Operational Company Holding Company Power plantBrundesiniNOTE 04 SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES, ASSUMPTIONS AND COMPARABLE FIGURESIn the process of applying the Group\u2019s accounting policies in accordance to IFRS, management has made several judgements and estimates. All estimates are assessed to the most probable outcome based on the management\u2019s best knowledge. Changes in key assumptions may have significant effect and may cause material adjustments to the carrying amounts of assets and liabilities, equity, and the profit for the year. The Company\u2019s most important accounting estimates are the following items:Revenue and receivablesThe Group has receivables against various parties including the Italian state and companies involved in the criminal proceedings in Milano. It is uncertainty regarding the willingness or ability for these parties to pay. To the extent the Company or its subsidiary is aware of any doubt in the likelihood of collecting such receivable a provision has been made. Significant judgement is required in estimating the soundness of such receivable.In the case of ENFO 25 where the Company received a GSE order to suspend the incentives and relevant payments of feed-in-tariff, the Company has decided to recognise revenue in full.The Administrative Court of Lazio (TAR) has decided in a court ruling on 12 July 2021 that the termination decision made by GSE on the FIT contract for ENFO25 in September 2019 is invalid and consequently cancelled.GSE has not paid the FIT tariff for the electricity delivered by ENFO 25 since July 2019, and currently owe approximately EUR 815 thousand in unpaid electricity bills to ENFO 25. The Administrative Court also ordered GSE to cover the legal costs of EAM Solar ASA.Management has evaluated the situation of ENFO 25 and its net receivable position against GSE at year end, concluding that it is more likely than not, that the net receivable against GSE will not be collected. Based on this conclusion the trade receivable against GSE and the corresponding provision of payable is written down and the net amount recog-nised as an operating cost, write down of trade receivables. Revenues recognition and reporting of revenues for 2022 remains unchanged.Tax assetsThe Group has recognised deferred tax asset because it is considered that it is probable that future taxable amounts will be available to utilise those temporary differences. If such assumption proves to be incorrect the tax can be lost partly or in its entirety. Total recognised tax asset at the reporting date is EUR 64 018.NOTE 05 OTHER OPERATING EXPENSESVAT is not included in the fees specified below.Specification of auditor's fee 2022 2021Statutory audit 67 130 55 298Other services from RSM Advokat AS 2 682 6 887Other services 3 263 15 726Total fee to auditor's 73 075 77 911RSM Advokat AS is a related party to the auditor RSM.NOTE 06 SALARY AND PERSONNEL EXPENSE AND MANAGEMENT REMUNERATIONBoard of Directors year-end 2022:\u2022 Ragnhild M\u00e4rta Wiborg (chair)\u2022 Stephan Lange Jervell (non-executive director)\u2022 P\u00e5l Hvammen (non-executive director)The CEO in 2022, Viktor Erik Jakobsen, is hired and remunerated by the manager (see note 7 for description of transac-tions with related parties).Ragnhild M\u00e4rta Wiborg, has received in 2022 NOK 482 500 in remuneration for her work as Chair. Stephan Lange Jervell has received NOK 295 000 in 2022. P\u00e5l Hvammen has received NOK 295 00 in 2022. At year end 2022 Ragnhild M\u00e4rta Wiborg held directly or through companies she controls 3 765 shares in EAM Solar ASA. No shares were held by other directors or CEO. Ragnhild M\u00e4rta Wiborg resigned from the Board of Directors on 31 January 2023.Nomination committee year-end 2022:\u2022 Leiv Askvig (chair)\u2022 Nils Erling \u00d8degaard (member)\u2022 Georg Johan Espe (member)Leiv Askvig has received in 2022 NOK 26 500 in remuneration for his work as chair of the Nomination Committee. Nils Erling \u00d8degaard and Georg Johan Espe each received NOK 16 000 in 2022 in remuneration for their work as members of the Nomination Committee.No member of the management receives remuneration or financial benefits from other companies in the Group other than those stated above. No additional remuneration has been paid for services outside the normal functions of a director. No loans or guarantees have been given to any members of the Group management, the board of directors or other company bodies.NOTE 07 TRANSACTIONS WITH RELATED PARTIESRelated partiesEnergeia AS is the manager of EAM. Energeia AS in Norway and Italy employs or subcontract all of the personnel conducting the technical and administrative services for EAM. Energeia AS owns 9.5 per cent of the shares in EAM.Sundt AS and Canica AS are shareholders in EAM. They are also shareholders in Energeia AS, but not involved in the day-to-day operations of Energeia AS. Sundt AS was represented on the board of directors of Energeia AS until 13 December 2022. Certain key personnel managing the day-to-day operations of EAM are also investors in Energeia AS.Transactions with related partiesAll the transactions have been carried out as part of the ordinary operations and at arms-length prices.In 2022 Energeia direct costs of the management of EAM was EUR 909 thousand (2021: EUR 1.03 m). For 2022 the direct cost was EUR 0.20 per kWh based on full year figures. (Against EUR 0.23 per kWh in 2021).On 15 August 2019 EAM Solar ASA sold the shares in the subsidiary EAM Solar Norway Holding AS to Energeia AS. The Board of Directors decided to conduct this sale in order to protect and secure the financial integrity of EAM Solar ASA.The final sales price for the shares consisted of two elements; 1) a fixed price for the shares, and 2) a profit split if Energeia sold the power plants with a profit before year-end 2020. On 30 April 2020 Energeia AS sold the power plants indirectly owned by EAM Solar Norway Holding AS to a third party.Since Energeia AS sold the power plants in 2020, EAM Solar ASA is entitled to receive 75 per cent of any net capital gains realized by Energeia AS above the purchase price from EAM Solar ASA. The provisional capital gain for EAM Solar ASA is estimated to be NOK 70.9 million at year-end 2022. The sales price referred to was entered in the books in 2020, and that sum has largely been settled in 2022 and that there has been no adjustment in profit in 2022 and hence no effect on the result in 2022.The final determination of the total sales price including capital gain will be established in 2023.On 31 December 2022 the Group had net receivables from related parties (Energeia AS) of EUR 305 thousand. ENERGEIA AS OWNERSHIP AT YEAR ENDCompany/owner Ownership Person Position year-end 2021Jakobsen Energia AS 12.70% Viktor E Jakobsen Chief Exexcutive Officer of EAM Solar ASASundt AS 14.72% Family office Shareholder of EAM Solar ASANaben AS 4.90% Audun W Iversen Shareholder of EAM Solar ASACanica AS 6.20% Family office Shareholder of EAM Solar ASAAS Brdr. Michaelsen 6.38% Christian Hagemann Acting Chief Operating Officer of EAM Solar ASAJemma Invest AS 2.15% Jarl Egil Markussen Acting Chief Administrative Officer of EAM Solar ASAStanja AS 0.48% Stephan L. Jervell Board memeber of EAM Solar ASACerebrum Invest AS 0.09% Ragnhild M. Wiborg Chair of EAM Solar ASA (resigned 31 Jan 2023)Others 52.38%NOTE 08 FINANCIAL INCOME AND EXPENSESFinancial income (EUR) 2022 2021Interest income 3 898 6Foreign exchange gain 1 188 672 255 112Total financial income 1 192 570 255 118Financial expenses (EUR) 2022 2021Interest expense (172 589) (110 385)Foreign exchange losses (566 547) (951 839)Other financial expenses (25 849) (28 588)Total financial expenses (764 986) (1 090 812)Net financial income (expenses) 427 585 (835 694)The average exchange rate used for 12M 2022 is EUR/NOK 10.1040 (12M 2021 EUR/NOK 10.1648), whereas the exchange rate used on 31 December 2022 is EUR/NOK 10.5138 (31 December 2021: EUR/NOK 9.9888).NOTE 09 SEGMENT INFORMATIONThe Group owns and operates four solar PV power plants in Italy as of year-end 2022. The business is investing in and operating power plants that have similar economic characteristics.During the year ended 31 December 2022 approximately EUR 914 thousand (2021: EUR 864 thousand) of the Group\u2019s external revenue was derived from sales to the Italian state, represented by GSE for the Feed In Tariff contracts.Approximately EUR 1 300 thousand (2021: EUR 469 thousand) of the Group\u2019s external revenue was derived from sales to an international commodities trading house for the market price contracts. Due to the implementation of the Sostegni Ter Decree, which is applicable for companies with Feed In Tariff contracts, the achieved market price of electricity has been limited to EUR 56 per MWh for the Company\u2019s power plants in the South of Italy.Based on the information received from GSE and the Decree, the Company has had an estimated electricity sales revenue reduction of EUR 998 thousand for the period from 1 February 2022 to 31 December 2022.NOTE 10 OPERATIONAL COSTS BREAKDOWN 2022Other & EUR EAM Solar Group ENS1 & ENFO25EliminationsRevenues 1 221 073 1 221 073 -Cost of operations (813 734) (747 208) (66 526)Land rent - - -Insurance (106 526) (40 000) (66 526)Operation & Maintenance (58 633) (58 633) -Energeia operating costs - - -Other operations costs (648 575) (648 575) -Sales, General & Administration (949 613) (330 884) (618 729)Accounting, audit & legal fees (145 226) (41 374) (103 852)IMU tax (12 898) (12 898) -Energeia direct costs (474 855) (155 586) (319 269)Other administrative costs (316 633) (121 026) (195 607)Legal costs (1 386 837) 24 (1 386 861)Legal costs (952 314) 24 (952 338)Energeia legal costs (434 523) - (434 523)EBITDA (1 929 111) 143 004 (2 072 115)NOTE 11 INCOME TAXThe basis for the recognition a deferred tax asset is forecasted results in the operating segments. There are no expiry dates on any of the losses carried forward. Property tax payable is expensed as an operating expense under SG&A.INCOME TAX EXPENSE(EUR) 2022 2021Current taxes 19 818 31 026Changes in deferred taxes 120 766 53 557Correction for previous years tax - -Total income tax expense 140 582 84 583Income tax net income 140 582 84 583Income tax other comprehensive income - -Total income tax expense 140 582 84 583TAX PAYABLE(EUR) 2022 2021Tax payable for the year 19 818 (31 026)Prepaid tax (19 818) 31 026Total payable tax - -Temporary differences NorwayReceivables - -Intercompany interest (5 361 669) (4 956 160)Total temporary differences (5 361 669) (4 956 160)Tax losses carried forward 816 680 1 422 599Tax losses carried forward not recognised as an asset (816 680) (1 422 599)Basis for deferred tax (5 361 669) (4 956 160)Deferred tax (804 250) (743 424)Temporary differences ItalyTangible assets 51 630 51 623Intangible assets - -Leasing 215 111 293 632Cash flow hedge - -Total temporary differences 266 741 345 255Tax losses carried forward 14 701 320 11 235 454Tax losses carried forward not recognised as an asset (14 701 320) (11 235 454)Basis for deferred tax asset 266 741 345 255Deferred tax asset 64 018 82 863TAX EXPENSE RECONCILIATION(EUR) 2022 2021Profit before tax (2 065 101) (3 689 749)Corporation tax charge thereon at 22% (2019: 22%) (454 322) (811 745)Adjusted for the effects of:Expenses not deductible for tax purposes 123 790 107 185Gain from sale, not taxable -Change in temporary differences - 23 597Change in tax rates - -Different tax rates in foreign jurisdictions (513 108) (203 543)Change in tax loss not carried forward 882 304 934 609Change in deferred tax - -Withholding tax on intercompany interest 101 921 28 666Adjustments to tax in respect of previous periods - -Translation differences - -Other minor items (3) 5 814Income tax expense for the year 140 582 84 583Effective tax rate (7%) (2%)NOTE 12 EARNINGS PER SHAREBasic earnings per share is calculated as the ratio of the profit for the year due to the shareholders of the parent company, divided by the weighted average number of ordinary shares outstanding. The Company had 6 852 210 shares outstanding on 31 December 2022. There is no dilutive potential on the ordinary shares, so the earnings will be the same for both basic and diluted basis.Earnings per share (EUR) 2022 2021Profit for holders of ordinary shares (2 205 683) (3 774 332)Basis for earnings per share (2 205 683) (3 774 332)Earnings per share (EUR) 2022 2021- Basic (0.32) (0.55)- Diluted (0.32) (0.55) 1 Earnings per share in NOK2022 2021Continued operation- Basic (3.25) (5.60)- Diluted (3.25) (5.60)Total shares outstanding at period end 6 852 210 6 852 210Weighted average number of ordinary shares oustanding 6 852 210 6 852 210Weighted average number of shares adjusted for dilutive shares 6 852 210 6 852 2101 Average NOK/EUR exchange rate 10.104 10.165NOTE 13 PROPERTY, PLANT AND EQUIPMENT2022Solar power Solar power Leashold (EUR)plantsplants under leaseimprovements TotalCarrying value 1 January 2022 1 470 610 4 755 529 312 119 6 538 257Additions - - 12 600 12 600Depreciation (113 958) (412 999) (35 919) (562 876)Carrying value 31 December 2022 1 356 652 4 342 529 288 800 5 987 9812021Solar power Solar power Leashold (EUR)plantsplants under leaseimprovements TotalCarrying value 1 January 2021 1 584 568 5 168 528 346 840 7 099 936Depreciation (113 958) (412 999) (34 722) (561 679)Carrying value 31 December 2021 1 470 610 4 755 529 312 119 6 538 257Economic life of 20\u201325 years and straight-line depreciationSolar power plants under lease include a plot of land, that is not being depreciated since the land has an unlimited useful life, with a carrying amount of EUR 572 thousand.(EUR) 2022 2021Plant and equipment - at cost 2 771 466 2 771 466Less: Accumulated depreciation (1 414 813) (1 300 856)1 356 653 1 470 610Plant and equipment under lease 8 041 834 8 041 834Less: Accumulated depreciation (3 699 305) (3 286 305)1 356 653 1 470 610Leasehold improvements - at cost 516 469 503 869Less: Accumulated depreciation (227 669) (191 750)288 800 312 119LeasingContracts that were Contracts identified as previously identified as Total obligationleases applying IFRS 16leases applying IAS 17 TotalENS Solar One 76 764 3 694 609 3 771 372Total obligation 31 December 2022 76 764 3 694 609 3 771 372Long term obligationAmount Amount TotalENS Solar One 72 612 3 267 924 3 340 536Total long term obligation 31 December 2022 72 612 3 267 924 3 340 536Short term obligationAmount Amount TotalENS Solar One 4 152 426 685 430 836Total short term obligation 31 December 2022 4 152 426 685 430 836The interest rate used for the recognition of contracts identified as leases applying IFRS 16 and contracts that were previously identified as leases applying IAS 17 is 4.92 per cent p.a., equal to the interest rate of the underlying agree-ments with the financial institution for obligations measured as of 31 December 2019. The contracts identified as leases applying IFRS 16 run to 2035. The contracts that were previously identified as leases applying IAS 17 run to 2030. The lease contracts recognized in applying IFRS 16 is the land rent and surface rights for ENS One, and the lease contracts that were previously identified as leases applying IAS 17 are leases of the solar power plants of ENS One. The \u201cRight Of Use\u201d is calculated as the same value as the lease obligation at the time of initial application.UNDISCOUNTED LEASE LIABILITIES AND MATURITY OF CASH OUTFLOWYear Amount2023 697 0002024 697 0002025 697 0002026 697 0002027 697 000After 2027 2 131 000Total undiscounted lease liabilities at 31 December 2022 5 616 000Contracts that were Contracts identified as previously identified as Summary of the lease liabilitiesleases applying IFRS 16leases applying IAS 17 TotalAt initial application 1 January 2022 80 915 4 099 749 4 180 664New lease liabilities recognised in the year - - -Cash payments lease (7 782) (608 466) (616 248)Interest expense on lease liabilities 3 630 203 325 206 955Disposal - - -Total lease liabilities at 31 December 2022 76 763 3 694 608 3 771 372The Company has chosen to apply the practical expedient laid out in IFRS 16 where there is no reassessment whether a contract is, or contains, a lease at the date of initial application. Instead IFRS 16 is applied to all contracts that were previously identified as leasing applying 17. Further, the Company has chosen to apply the modified retrospective approach in the new standard.NOTE 14 OTHER CONTRACTUAL OBLIGATIONSThe Group has the following contractual obligations not recognized in the balance sheet relating to operations and maintenance, and insurance for ENS 1 and ENFO 25 (All amounts are undiscounted).Year (EUR) Amount2023 97 0002024 97 0002025 97 0002026 97 0002027 97 000After 2027 405 000Total 890 000NOTE 15 FINANCIAL RISK MANAGEMENTRegulatory riskThe largest risk to the Company\u2019s operations and profitability are regulatory risk relating to changes in agreements, taxation or operational regulations made by the State of Italy. This risk is difficult to hedge against apart from securing that operations at all times are incompliance with the prevailing rules and regulations.Financial riskThe Group has different financial instruments; a) trade and other receivables and trade accounts payable and b) leasing.Credit riskUnder normal circumstances the risk for losses is considered to be low, as the counterpart is the Italian state, but given the unpaid FIT amounts on ENFO 25, have the management at year end decided to make a provision and write down the receivable against GSE, see note 16. The Group has not made any offsets or other derivative agreements to reduce the credit risk in EAM.Interest-rate riskInterest rate risk is the risk that the fair value or future cash flows of a finan-cial instrument will fluctuate because of changes in market interest rates. The Group\u2019s exposure to the risk of changes in market interest rates relate primarily to the Group\u2019s debt with floating interest rates.Liquidity riskLiquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Groups approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Groups reputation. Surplus liquidity is primarily placed on a bank deposit account.Capital structure and equityThe primary focus of the Group\u2019s capital management is to ensure that it maintains an acceptable capital ratio in order to support its business opera-tions and the ongoing legal proceedings.The financial statement is prepared on the basis of going concern. It is the board\u2019s opinion that the Group has sufficient liquidity for the next twelve months.Risk associated with the economic situation in EuropeThroughout 2022 and so far in 2023 have markets in Europe been character-ised by surging energy prices, increasing interest rates and price increases in general. The Group has to very little extent been affected by this.With the Decree in Italy that has limited the market price dramatically has there been no windfall profit for the Group. And increase interest rates and prices in general does not impact the Group substantially given the limited external debt and low operating costs.The War in Ukraine and sanctions against RussiaThe war in Ukraine and the sanctions against Russia has had no direct impact on the Company\u2019s operations. The war has indirectly together with the sanctions further increased the power prices for renewable energy in 2022.NOTE 16 TRADE RECEIVABLESTrade and other receivables (EUR) 2022 2021Accounts receivables - 324Deferred revenue towards GSE 218 121 754 696Receivable from sale 305 017 3 062 910Other receivables 1 651 606 1 632 406Total trade and other receivables 2 174 744 5 450 336The receivable from sale is the receivable from the sale of EAM Solar Norway Holding AS, at year end 2022 EUR 305 thou-sand. The agreement between Energeia and EAM has a clause regulating onward sales, If Energeia AS sold the power plants in 2020, EAM Solar ASA is entitled to receive 75 per cent of any net capital gains realized by Energeia AS above the purchase price from EAM Solar ASA. The final determination of the total sales price including capital gain will be estab-lished at the end of the warranty period of the sale by Energeia AS in 2023. Please see note 7 for further information.Management has evaluated the situation of ENFO 25 and its net receivable position against GSE at year end, concluding that it is more likely than not, that the net receivable against GSE will not be collected. Based on this conclusion the trade receivable against GSE and the corresponding provision of payable is written down and the net amount recog-nised as an operating cost, write down of trade receivables. Revenues recognition and reporting of revenues for 2022 remains unchanged. Please see note 4 for further information.GSE normally has 60 days payment terms from receiving an invoice. In 2015, GSE introduced a 12-month delayed payment on 10 per cent of the expected annual revenues, thereby being paid in June the following year.Other receivables are mainly receivable on VAT for Italian subsidiaries that does not expire and can be utilised against other taxes or cashed out in the event the companies cease to exist.NOTE 17 CASH AND CASH EQUIVALENTS(EUR) 2022 2021Cash Norway 937 904 20 970Cash Italy 526 494 560 726Cash and cash equivalents 1 464 397 581 696Restricted cash Norway 294 851 -Restricted cash Italy 331 541 443 422Seized cash Italy 61 616 61 616The restricted cash in Norway of EUR 295 thousand is relating to the court case in Oslo District Court against Enovos and was set aside as collateral for the coverage of the legal costs. The restricted cash in Italy of EUR 332 thousand is the debt service reserve account of ENS Solar One Srl. The EUR 62 thousand of the seized cash is taken from companies not included in the in the first criminal proceedings.The Group had no undrawn credit facilities at 31 December 2022.NOTE 18 SHARE CAPITAL, SHAREHOLDER INFORMATION AND DIVIDENDThe 20 main shareholders as at 31 December 2022 are:Shareholder Shares OwnershipSUNDT AS 1 054 580 15.4%CANICA AS 886 762 12.9%ENERGEIA AS 650 956 9.5%MP PENSJON PK 276 283 4.0%DNB LIVSFORSIKRING AS 269 086 3.9%PARK LANE FAMILY OFFICE AS 237 300 3.5%IMENES 234 017 3.4%NORDNET LIVSFORSIKRING AS 159 507 2.3%MELLEM NES INVEST AS 156 928 2.3%AKA AS 125 000 1.8%ALDEN AS 108 398 1.6%SKJ\u00c6VELAND 80 237 1.2%Nordnet Bank AB 66 301 1.0%BRUNSBICA AS 62 078 0.9%VIRO AS 61 156 0.9%KM FORVALTNING AS 60 000 0.9%JESEM AS 60 000 0.9%VERPENTANGEN AS 52 950 0.8%HAUSTKOLLHOLMEN AS 52 000 0.8%RO INVEST AS 50 000 0.7%Total of the 20 main shareholders 4 703 539 68.6%Share capital 1 Jan 2022 31 Dec 2022No of shares 6 852 210 6 852 210 Nominal value (NOK) 10 10 Share capital 68 522 100 68 522 100All the shares in the Company and shareholders have equal rights, including voting rights. Each share carries the right to one vote at the Company\u2019s general meeting.Share premium is the difference between nominal value of the Company\u2019s shares and the total amount the Company received for shares issued.Due to the financial situation of the Company the board of directors propose no dividend payments for 2022, although a dividend in kind was distributed during the year.NOTE 19 DEBTEUR 2022 2021Other non current liabilities 343 887 343 887Obligations under finance leases 3 340 536 3 771 567Deferred tax 804 250 743 424Total non-current liabilities 4 488 674 4 858 878Trade payables 627 466 1 077 444Payables to GSE 756 355 -Other payables 480 681 523 354Social security - 7 860Taxes other than income taxes 6 677 6 677Accrued liabilities 2 511 4 661Trade and other payables 1 873 690 1 619 996Current leasing 430 836 409 097Related to ordinary operations 2 304 526 2 029 093Total current liabilities 2 304 526 2 029 093Total liabilities 6 793 200 6 887 971Payables to GSEOn 29 March 2022, Law no. 25 (Sostegni ter Decree) entered into force. The Decree is initially intended to apply from February 2022 to the end of the year. Following the Decree, the achieved market price of electricity has been limited to EUR 56 per MWh for the Company\u2019s power plants in the South of Italy. Relevant provisions are made but not yet paid as the Company is awaiting final decision in the Italian judicial system on the lawfulness of the Decree.Equity contribution agreement and patronage letterIn conjunction with the \u201cP31 acquisition\u201d, EAM Solar Italy Holding Srl entered into a so-called patronage letter and an equity contribution agreement with UBI Leasing and UniCredit respectively. These agreements may under certain circumstances require EAM Solar Italy Holding Srl to inject additional equity into the debt financed SPVs to cover any shortfall or breach of the debt repayment obligations of the SPVs.The FIT contracts of the SPVs have been terminated by GSE due to fraud against the State of Italy.In November 2018 EAM Solar ASA was served with a notice that UBI Leasing had requested the Court of Brescia for an injunction of EUR 6 million on EAM assets. The court of Brescia granted a preliminary non-enforceable injunction.EAM challenged the injunction, and the first hearing was scheduled in May 2019. A summary hearing was held, and the case was postponed until November 2019. In December 2019 EAM was informed that the judge in the Civil Court of Brescia dismissed the petition by UBI Leasing to have a provi-sionally enforceable injunction against the Company.A further hearing was held in January 2020. In this hearing the judge enabled the parties to submit further briefs in the period until mid-April and the next hearing was set for May 2020. This hearing and filing of briefs were post-poned due to Covid-19.Briefs were filed in May and June 2020 and a hearing was held in September 2020. An order was issued in November 2020 where the Judge accepted EAM Solar ASA\u2019s request to examine witnesses. The first witness hearing in this matter was held 1 June 2021. The court set a second hearing to resume the examination of witnesses on 10 November 2021, but this hearing was postponed and held on 31 March 2022. A third witness hearing was held on 12 July 2022. On 10 November 2022 the Judge decided that UBI must submit certain documents on EAM\u2019s request. A hearing was conducted on 30 March 2023 where UBI submitted more documents. The next hearing is scheduled for December 2023.No provisions are made in the accounts on this matter.Receivable and payable against Aveleos S.A., its directors and its two shareholders Enovos Luxembourg S.A. and Avelar Energy Ltd.On 20 January 2021, the Criminal Appeal Court of Milan decided to revoke the first instance judgement of the Criminal Court of Milan. Consequently, Akhmerov and Giorgi were acquitted by the Court for all points of indictment related to fraud against the State of Italy and EAM Solar ASA, including the ruling to hold Aveleos financially liable for the acts conducted by Akhmerov and Giorgi.The Appeal Court\u2019s decision was a two-page notice identifying the decisions without presenting arguments or explanations for the revocation of the Criminal Court of Milan decision of April 2019. The arguments and evidence base for the decision by the Criminal Appeal Court was made available to the parties on 20 April 2021, 90 days from the date of the decision.Following the reception of the full judgement from the Milan Criminal Court of Appeal, EAM Solar ASA decided to join with the Prosecutor\u2019s Office in Milan in appealing to the Italian Supreme Court of Cassation. The appeal was submitted on 1 June 2021 to the Supreme Court of Cassation.EAM Solar ASA seeks to reinstate the convictions of Igor Akhmerov and Marco Giorgi for the crime of fraud against EAM.The appeal was based on several cases of misinterpretation of facts in the grounds for judgment by the Milan Criminal Court of Appeal.The Supreme Court of Italy held a hearing on 6 October 2021 on the appeal of the acquittal sentence decided by the Milan Criminal Court of Appeal issued 20 January 2021.On 7 October 2021, the Company was informed that the Supreme Court of Italy decided to annul the 20 January 2021 judgment of acquittal by the Milan Criminal Court of Appeal in the subsidy fraud case against the State of Italy and contractual fraud against EAM Solar ASA.Late November 2021 the Supreme Court issued its full decision for the annulment of the acquittal ruling. The short summary of the reason for the Supreme Court to annul the Milan Appeal Court acquittal decision in its entirety is that the Supreme Court found that the Milan Appeal Court did not fulfil its obligation to conduct a correct and comprehensive review of the factual evidence in the criminal case, resulting in an erroneous evaluation of the evidence with the effect that the acquittal decision was based on obvious inconsistent and illogical arguments.The Supreme Court is sending the criminal case back to a different chamber of the Milan Appeal Court for a new proceeding in the criminal case with the requirement that the new court proceedings must proceed with a complete review of the evidence, making correct application of the principles of law and the rules of logic as formulated in the Supreme Court decision.On the fraud of EAM, the Supreme Court concludes that the evidenced withholding of essential information during the contractual negotiations in itself constitute a contractual fraud.There has still not been a date set for any further appeals following the decision of the Italian court of Cassation.The Company estimates its claim to be in excess of EUR 300 million. The claim is a contingent asset that will not be recognised in the balance sheet.Based on the Share Purchase Agreement and the addendums, the Company is entitled to a payment from Aveleos due to the overpayment for ENS4 and the post-closing adjustments including interest. This amount has been confirmed by EY in a separate audit on the issue which later has been updated and reconfirmed by RSM.In addition, the company has recognised a loan of EUR 2.5 million given by Aveleos in 2014.EAM Solar Italy Holding Srl was on 10 December 2020 notified that Aveleos had filed a petition, without EAM\u2019s knowledge, to the Civil Court in Milano claiming payment of shareholder loans in the amount of EUR 12 683 721 under the Sale and Purchase Agreement of the P31 transaction.EAM Solar ASA and its subsidiary is of the opinion that such claim does not exist and have third party expert opinions supporting this fact. The fact is that Aveleos SA owes EAM Solar ASA money following the SPA due to the non-transfer of 10 power plants.EAM Solar Italy Holding Srl contested the decision in January 2021 and enrolled the case to Court. A hearing was expected to take place in June 2021 but ended up being scheduled for 7 September 2021. In the meantime, Aveleos adhered to our objection that an arbitration was already pending on the same issue, and accordingly decided to drop the case. This will bring the proceedings to an end.No provisions are made in the accounts on this matter.Litigation funding agreement with TheriumThe funding being received from Therium is a contribution to lower the legal costs incurred in pursuing the claim, and legal costs are reduced with the contribution from Therium, and any subsequent repayment to Therium is conditional on EAM receiving a claim award. Therefore, there is no liability to recognise a payment to Therium at this stage in the financial statements. EAM will recognise a claim award after having reimbursed Therium of their amount. Unused litigation funding at the end of the year was EUR 59 thou-sand. Therium has committed to invest a maximum amount of up to EUR 2.3 million. The agreement entitles Therium to receive the invested amount plus a contingency fee of 3X the committed funds under any incepted tranche of funding as a first priority payment from any litigation claim awarded to the Company.NOTE 20 IMPAIRMENTEAM has not identified indicators for impairment of the power plants as described in IAS 36 at year end.NOTE 21 INTANGIBLE ASSETS2022 Intangible assetsCarrying value 1 January 2022 9 801Additions -Write downs -Depreciation (700)Disposals -Currency translation effect -Carrying value 31 December 2022 9 1012021 Intangible assetsCarrying value 1 January 2021 10 501Additions -Write downs -Depreciation (700)Disposals -Currency translation effect -Carrying value 31 December 2021 9 801Intangible assets are depreciated linear over the lifetime of the FIT contracts. The FIT contract period is running to 2031.NOTE 22 EVENTS AFTER THE BALANCE SHEET DATEResignation of Chair of the Board of Directors, Mrs Ragnhild WiborgOn 31 January 2023 the Company announced the resignation of the Chair of the Board of Directors, Mrs Ragnhild Wiborg. The resignation comes as consequence of her assuming the role as Chair of the Board of Directors in Energeia AS, the manager of the Company.Mrs Wiborg has served on the Board of Directors of EAM Solar ASA for almost 10 years since May 2013, and has carried the responsibility of leading the Board since December 2014. EAM Solar ASA shareholders and its management are very grateful for the unwavering and the steady hand by which Mrs Wiborg has led the Company in trying times.For a period of time there has been no chairperson on the board of directors and the company has only had two board members (which is not in accordance with the articles of association nor the Public Limited Liability Companies Act), however the Election Committee has already started to search for a new candidate for the Board of Directors in the Company. A new board setup, as proposed by the election committee, will be included in the notice to the annual general meeting. The date for the AGM is 22 May 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__6": { "value": "NOTE 01 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThe consolidated financial statements of EAM for the year ending 31 December 2022 were authorised for issuance by the board on 25 April 2022.EAM is a public limited liability company, incorporated and domiciled in Norway, with registered office at Bryggetorget 7, NO-0250 Oslo, Norway. The Company was founded on 5 January 2011 and listed on the Oslo Stock Exchange under the ticker \u201cEAM\u201d in 2013. EAM Solar ASA is the parent company of the Group. The primary business activity of EAM is both to own solar photovoltaic power plants and sell electricity under long-term fixed price sales contracts, and to pursue legal proceedings in order to restore company values. EAM was structured to create a steady long-term dividend yield for its shareholders. Following the P31 Acquisition, the main value of EAM is dependent on the future outcome of litigation activities.EAM currently owns 4 photovoltaic power plants through a holding company and 2 subsidiaries in Italy. The Company has no employees.01.01 Basis for preparation of the financial statementThe EAM Group\u2019s consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted by the EU and mandatory for financial years beginning on or after 1 January 2022.The consolidated financial statements are based on historical cost. In addi-tion, interest rate swaps used for hedging is measured at fair value.The consolidated financial statements have been prepared on the basis of uniform accounting principles for similar transactions and events under similar circumstances.The Group\u2019s presentation currency is Euro (EUR) and the parent company\u2019s functional currency is Norwegian Krone (NOK). The majority of the Group\u2019s revenue and cost are in Euro, thus the group accounts are presented in Euro. Balance sheet items in the Group companies with a functional currency other than EUR are converted to Euro by applying the currency rate appli-cable on the balance sheet date. Currency translation differences are booked against other comprehensive income. Income statement items are converted by applying the average currency rate for the period.The financial statements and figures presented in the directors\u2019 report are prepared under the assumption of going concern. The reason for preparing the financial statements as going concern is due to the board\u2019s opinion that the Group has sufficient liquidity for the next twelve months. The board and manager are placing all their effort into operating the Company in a prudent manner, pending the legal proceedings that is expected to ultimately solve the situation for EAM.01.02 Consolidation principlesThe consolidated financial statements comprise the financial statements of the Group and its subsidiaries at 31 December 2022.Subsidiaries are fully consolidated from the date of acquisition, being the date on which the Group obtains control, and continue to be consolidated until the date when such control ceases. The financial statements of the subsidiaries are prepared for the same reporting period as the parent company, using consistent accounting policies. All intra-group balances, transactions, unrealised gains and losses resulting from intragroup transac-tions and dividends are eliminated in full.The acquisition method is applied when accounting for business combi-nations. A change in the ownership interest of a subsidiary, without loss of control, is accounted for as an equity transaction. If the Group loses control over a subsidiary, it:\u2022 Derecognises the assets (including goodwill) and liabilities of the subsidiary\u2022 Derecognises the carrying amount of any non-controlling interest\u2022 Derecognises the cumulative transaction differences recorded in equity\u2022 Recognises the fair value of any investment retained\u2022 Recognises any surplus or deficit in profit or loss\u2022 Reclassifies the parent\u2019s share of components previously recognised in other comprehensive income to profit or loss or retained earnings, as appropriate.01.03 Use of estimates in the financial statementsManagement has used estimates and assumptions that have affected assets, liabilities, incomes, expenses, deferred tax asset and information on poten-tial liabilities.Future events may lead to estimates being changed and estimates and their underlying assumptions are reviewed on a regular basis. Changes in accounting estimates are recognised during the period when the changes take place. If the changes also apply to future periods, the effect is accounted for prospectively. See also note 4.01.04 Foreign currencyThe Group\u2019s consolidated financial statements are presented in EUR. Each entity in the Group determines its own functional currency, and items included in the financial statements of each entity are measured using that functional currency.Transactions in foreign currencyTransactions in foreign currency are translated at the rate applicable on the transaction date. Monetary items in a foreign currency are translated into the functional currency using the exchange rate applicable at the end of the reporting period.Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchanges at the date when the fair value is determined. Change in exchange rates are recognised in the statement of comprehensive income as they occur during the accounting period.Foreign operationsOn consolidation, the assets and liabilities of operations with a functional currency other than the EUR are translated to EUR at the rate of exchange prevailing at the reporting date and their statements of comprehensive income are translated at exchange rates prevailing at the dates of the trans-actions.The average exchange rates are used as an approximation of the transaction exchange rate. The exchange differences arising on translation for consolida-tion are recognised in other comprehensive income. On disposal of a foreign operation, the accumulated translation differences relating to the subsidiary are recognised in the statement of comprehensive income.Translation differences arising from the translation of a net investment in foreign operations are specified as translation differences in the statement of equity.01.05 Revenue recognitionRevenue is recognized when a customer obtains control of the goods or services.Sale of solar powerEAM owns and operates four solar power plants in Italy, which generate electricity. Revenue from the sale of electricity is recognised in the statement of comprehensive income once delivery has taken place and the risk and return have been transferred.All EAM\u2019s electricity sales are made under 20-year sale agreements in the feed-in-tariff (FIT) scheme, with the Italian renewable energy authority Gestore Servizi Energetici (GSE) as commercial counterparty.In 2022 the Italian authorities set a limit on the market price to be realised for renewable energy and makde the reductions applicable for companies with FIT contracts. More information on the Sostegni Ter Decree can be found under Financial Review above.In previous years, the fixed price sales contracts (FIT) accounted for approx-imately 80 per cent of revenues, with electricity sales at market prices accounting for approximately 20 per cent. This was substantially changed in 2022 where the FIT revenue accounted for approximately 40 per cent and market price revenue accounted for approximately 60 per cent of the revenue, prior to taking reduction under the Decree into consideration.Market price contracts are renewed yearly.Interest incomeFor all financial instruments measured at amortised cost, interest income or expense is recorded using the effective interest rate (EIR), which is the rate which exactly discounts the estimated future cash payments or receipts through the expected life of the financial instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset or liability. Interest income is included in finance income in the statement of comprehensive income.01.06 SegmentsThe Group owns and operates four solar PV power plants in Italy as of year-end 2022 and thus only one segment both geographically and nature wise. Further information relating to segments is presented in note 9.01.07 Income taxIncome tax consists of tax payable and changes to deferred tax. Deferred tax liability/tax asset is calculated on all differences between the carrying and tax value of assets and liabilities, with the exception of temporary differences related to investments in subsidiaries where the Group controls when the temporary differences are to be reversed and this is not expected to take place in the foreseeable future.Deferred tax assets are recognised when it is probable that the company will have a sufficient profit for tax purposes in subsequent periods to utilise the deferred tax asset. The companies recognise previously unrecognised deferred tax assets to the extent it has become probable that the company can utilise the deferred tax asset. Similarly, the company will reduce a deferred tax asset to the extent that the company no longer regards it as probable that it can utilise the deferred tax asset.Deferred tax liability and deferred tax asset are measured on the basis of the expected future tax rates applicable to the companies in the Group where temporary differences have arisen.Deferred tax liability and deferred tax asset are recognised at their nominal value and classified as non-current asset investments (long-term liabilities) in the balance sheet. Tax payable and deferred tax are recognised directly in equity to the extent that they relate to equity transactions.01.08 Property, plant and equipmentAll property, plant, and equipment (including solar power plants) are valued at their cost less accumulated depreciation and impairment. When assets are sold or disposed of, the carrying amount is derecognised and any gain or loss is recognised in the statement of comprehensive income.The cost of tangible non-current assets is the purchase price, including taxes/duties and costs directly linked to preparing the asset for its intended use. Costs incurred after the asset is in use, such as regular maintenance costs, are recognised in the statement of comprehensive income as incurred, while other costs expected to provide future financial benefits are capital-ised.Depreciation is calculated using the straight-line method over the following useful lives:\u2022 Movers, modules and cable connectors 20 years\u2022 Land lease rights 25 yearsThe depreciation period and method are assessed each year. A residual value is estimated at each year-end, and changes to the estimated residual value are recognised as a change in an estimate.01.09 LeasesThe Group has adopted IFRS 16 from 1 January 2019. The standard replaces IAS 17 \u2018Leases\u2019 and for lessees eliminates the classifications of operating leases and finance leases.Right-of-use assetsA right-of-use asset is recognised at the commencement date of a lease. The right-of-use asset is measured at cost, which comprises the initial amount of the lease liability, adjusted for, as applicable, any lease payments made at or before the commencement date net of any lease incentives received, any initial direct costs incurred, and, except where included in the cost of inventories, an estimate of costs expected to be incurred for dismantling and removing the underlying asset, and restoring the site or asset.Right-of-use assets are depreciated on a straight-line basis over the unex-pired period of the lease or the estimated useful life of the asset, whichever is the shorter. Right-of use assets are subject to impairment or adjusted for any remeasurement of lease liabilities.Lease liabilitiesA lease liability is recognised at the commencement date of a lease. The lease liability is initially recognised at the present value of the lease payments to be made over the term of the lease, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the consolidated entity\u2019s incremental borrowing rate. Lease payments comprise of fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, amounts expected to be paid under residual value guarantees, exercise price of a purchase option when the exercise of the option is reasonably certain to occur, and any anticipated termination penalties. The variable lease payments that do not depend on an index or a rate are expensed in the period in which they are incurred.Lease liabilities are measured at amortised cost using the effective interest method. The carrying amounts are remeasured if there is a change in the following: future lease payments arising from a change in an index, or a rate used; residual guarantee; lease term; certainty of a purchase option and termination penalties. When a lease liability is remeasured, an adjustment is made to the corresponding right-of use asset, or to profit or loss if the carrying amount of the right-of-use asset is fully written down.01.10 Business combinations and goodwillBusiness combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, measured at acquisition-date fair value and at the amount of any non-controlling interest in the acquired company. For each business combination, the Group elects whether it measures the non-controlling interest in the acquired company either at fair value or at the proportionate share of the acquired company\u2019s identifiable net assets. Acquisition costs incurred are expensed.When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accord-ance with the contractual terms, economic circumstances and pertinent conditions at the acquisition date. This includes the separation of embedded derivatives in host contracts by the acquired company.If the business combination is achieved in stages, the acquisition date fair value of the acquirer\u2019s previously held equity interest in the acquired company is measured to fair value at the acquisition date through profit and loss.Contingent consideration to be transferred by the acquirer is recognised at the acquisition-date fair value. Subsequent changes in the fair value of the contingent consideration classified as an asset or liability is recognised in profit or loss. Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity.Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognised for non-controlling interest over the net identifiable assets acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsid-iary acquired, the difference is recognised as profit or loss.After initial recording, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group\u2019s cash-generating units which are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquire are assigned to those units.Where goodwill forms part of a cash-generating unit and part of the operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss of the operation. Goodwill disposed of in this circumstance is measured on the basis of the relative value of the opera-tion disposed of and the portion of the cash-generating unit retained.Bargain purchase transactionsIf the net of the acquisition-date fair values of identifiable assets acquired and the liabilities assumed exceeds the aggregate of the consideration transferred (measured at acquisition-date fair value), the excess amount is recognised as a gain in the statement of comprehensive income on the acquisition date. Having done so, the company has reviewed the procedures used to measure all of the following:\u2022 the identifiable assets acquired, and liabilities assumed\u2022 the non-controlling interest in the acquired, if any\u2022 The consideration transferred01.11 Classification and measurement of financial assets and liabilitiesTrade and other receivablesTrade receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any allowance for expected credit losses. Trade receivables are generally due for settlement within 60 days for the feed-in-tariff contracts, and 15 days for the market price contracts.The Group has applied the simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance. To measure the expected credit losses, trade receivables have been grouped based on days overdue.Other receivables are recognised at amortised cost, less any allowance for expected credit losses.Trade and other payablesThese amounts represent liabilities for goods and services provided to the Group prior to the end of the financial year and which are unpaid. Due to their short-term nature, they are measured at amortised cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition.01.12 Cash and cash equivalentsCash includes cash in hand, at the bank or cash seized by the Prosecutors Office of Milan.Cash equivalents are short-term liquid investments which can be immedi-ately converted into a known amount of cash and have a maximum term to maturity of three months.01.13 EquityCosts of equity transactionsTransaction costs directly related to an equity transaction are recognised directly in equity after deducting tax expenses.01.14 ProvisionsA provision is recognised when the Group has an obligation (legal or constructive) as a result of a previous event, it is probable (more likely than not) that a financial settlement will take place as a result of this obligation, and the size of the amount can be measured reliably. If the effect is consid-erable, the provision is calculated by discounting estimated future cash flows using a discount rate before tax which reflects the market\u2019s pricing of the time value of money and, if relevant, risks specifically linked to the obligation.Restructuring provisions are recognised when the Group has approved a detailed, formal restructuring plan and the restructuring has either started or been publicly announced.Provisions for loss-making contracts are recognised when the Group\u2019s estimated revenues from a contract are lower than unavoidable costs that were incurred to meet the obligations pursuant to the contract.01.15 Contingent liabilities and assetsContingent liabilities are not recognised in the annual accounts. Significant contingent liabilities are disclosed, with the exception of contingent liabili-ties that are unlikely to be incurred.Contingent assets are not recognised in the annual accounts but are disclosed if there is a certain probability that a benefit will be added to the Group.01.16 Current/non-current classificationAssets and liabilities are presented on the basis of current and non-current classification.An asset is classified as current when it is expected to be sold or utilised or sold in the consolidated entity\u2019s normal operating cycle, or within 12 months after the reporting period, all other assets are classified as non-current.A liability is classified as current when it is expected to be paid in the consoli-dated entity\u2019s normal operating cycle or within 12 months after the reporting period, all other liabilities are classified as non-current.Deferred tax assets and liabilities are always classified as non-current.01.17 Derivative financial instruments and hedging activitiesDerivatives at fair value not classified as hedging instruments are carried in the statement of financial position at fair value with net changes in fair value in profit and loss statement.The categories include foreign exchange contracts and interest rate swaps.01.18 Earnings per shareEarnings per share are calculated by dividing the majority shareholders\u2019 share of the profit/loss for the period by the weighted average number of ordinary shares outstanding over the course of the period. When calculating diluted earnings per share, the average number of shares outstanding is adjusted for all share options that have a potential dilutive effect. Options that have a dilutive effect are treated as shares from the date they are issued.01.19 Intangible assetsIntangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intan-gible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates.01.20 Events after the reporting periodNew information on the Company\u2019s financial position at the end of the reporting period, which becomes known after the reporting period, is recorded in the annual accounts. Events after the reporting period which do not affect the Company\u2019s financial position at the end of the reporting period, but which will affect the Company\u2019s financial position in the future are disclosed if significant. See note 22.01.21 Application of new IFRS requirementsFor the preparation of these consolidated financial statements, no new standards were adopted from 1 January 2022.01.22 New standards and interpretations not yet adoptedAccounting Standards that have recently been issued or amended but are not yet mandatory, have not been early adopted by the Group for the annual reporting period ended 31 December 2022. The Group has assessed the impact of these new or amended Accounting Standards and Interpretations and considers two of the amendments to be relevant for the Group:Amendments to IAS 1 - Classification of Liabilities as Current or Non-CurrentThe International Accounting Standards Board has issued amendments to IAS 1 Presentation of Financial Statements to clarify how to classify debt and other liabilities as current or non-current. The amendments aim to promote consistency in applying the requirements by helping companies determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or poten-tially due to be settled within one year) or non-current. The amendments include clarifying the classification requirements for debt a company might settle by converting it into equity.The amendments clarify:\u2022 The meaning of right to defer settlement\u2022 That the right to defer must exist at the end of the reporting period\u2022 That classification is not affected by the probability that an entity will exercise its deferral right\u2022 That the terms of a liability would not impact its classification, only if an embedded derivative is an equity instrument itself.The amendments must be applied retrospectively and are effective for annual periods beginning on or after 1 January 2023. The Group does not intend to early adopt the amendments. It is not expected that the amend-ments will have any significant effect to the financial statement of the Company.Amendments to IAS 1 and IFRS Practice Statement 2 - Disclosure of Accounting policiesFollowing feedback that more guidance was needed to help companies decide what accounting policy information should be disclosed, IASB has issued amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements. The amendments to IAS 1 require companies to disclose their material accounting policy infor-mation rather than their significant accounting policies. The amendments to IFRS Practice Statement 2 provide guidance on how to apply the concept of materiality to accounting policy disclosures.The amendments are effective for annual periods beginning on or after 1 January 2023, but earlier application is permitted as long as this fact is disclosed. The Group does not intend to early adopt the amendments.The change may have some effect on the presentation of the accounting policies in the financial statement for 2023, but there is not expected to be significant changes.", "dimensions": { "concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__7": { "value": "The consolidated financial statements of EAM for the year ending 31 December 2022 were authorised for issuance by the board on 25 April 2022.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__11": { "value": "public limited liability company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__15": { "value": "Norway", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__14": { "value": "Norway", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__12": { "value": "Norway", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__13": { "value": "Bryggetorget 7, NO-0250 Oslo", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__10": { "value": "EAM Solar ASA", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__9": { "value": "EAM Solar ASA", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__8": { "value": "EAM Solar ASA", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__16": { "value": "The primary business activity of EAM is both to own solar photovoltaic power plants and sell electricity under long-term fixed price sales contracts, and to pursue legal proceedings in order to restore company values.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__19": { "value": "01.01 Basis for preparation of the financial statementThe EAM Group\u2019s consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted by the EU and mandatory for financial years beginning on or after 1 January 2022.The consolidated financial statements are based on historical cost. In addi-tion, interest rate swaps used for hedging is measured at fair value.The consolidated financial statements have been prepared on the basis of uniform accounting principles for similar transactions and events under similar circumstances.The Group\u2019s presentation currency is Euro (EUR) and the parent company\u2019s functional currency is Norwegian Krone (NOK). The majority of the Group\u2019s revenue and cost are in Euro, thus the group accounts are presented in Euro. Balance sheet items in the Group companies with a functional currency other than EUR are converted to Euro by applying the currency rate appli-cable on the balance sheet date. Currency translation differences are booked against other comprehensive income. Income statement items are converted by applying the average currency rate for the period.The financial statements and figures presented in the directors\u2019 report are prepared under the assumption of going concern. The reason for preparing the financial statements as going concern is due to the board\u2019s opinion that the Group has sufficient liquidity for the next twelve months. The board and manager are placing all their effort into operating the Company in a prudent manner, pending the legal proceedings that is expected to ultimately solve the situation for EAM.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__18": { "value": "01.01 Basis for preparation of the financial statementThe EAM Group\u2019s consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted by the EU and mandatory for financial years beginning on or after 1 January 2022.The consolidated financial statements are based on historical cost. In addi-tion, interest rate swaps used for hedging is measured at fair value.The consolidated financial statements have been prepared on the basis of uniform accounting principles for similar transactions and events under similar circumstances.The Group\u2019s presentation currency is Euro (EUR) and the parent company\u2019s functional currency is Norwegian Krone (NOK). The majority of the Group\u2019s revenue and cost are in Euro, thus the group accounts are presented in Euro. Balance sheet items in the Group companies with a functional currency other than EUR are converted to Euro by applying the currency rate appli-cable on the balance sheet date. Currency translation differences are booked against other comprehensive income. Income statement items are converted by applying the average currency rate for the period.The financial statements and figures presented in the directors\u2019 report are prepared under the assumption of going concern. The reason for preparing the financial statements as going concern is due to the board\u2019s opinion that the Group has sufficient liquidity for the next twelve months. The board and manager are placing all their effort into operating the Company in a prudent manner, pending the legal proceedings that is expected to ultimately solve the situation for EAM.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__17": { "value": "01.01 Basis for preparation of the financial statementThe EAM Group\u2019s consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted by the EU and mandatory for financial years beginning on or after 1 January 2022.The consolidated financial statements are based on historical cost. In addi-tion, interest rate swaps used for hedging is measured at fair value.The consolidated financial statements have been prepared on the basis of uniform accounting principles for similar transactions and events under similar circumstances.The Group\u2019s presentation currency is Euro (EUR) and the parent company\u2019s functional currency is Norwegian Krone (NOK). The majority of the Group\u2019s revenue and cost are in Euro, thus the group accounts are presented in Euro. Balance sheet items in the Group companies with a functional currency other than EUR are converted to Euro by applying the currency rate appli-cable on the balance sheet date. Currency translation differences are booked against other comprehensive income. Income statement items are converted by applying the average currency rate for the period.The financial statements and figures presented in the directors\u2019 report are prepared under the assumption of going concern. The reason for preparing the financial statements as going concern is due to the board\u2019s opinion that the Group has sufficient liquidity for the next twelve months. The board and manager are placing all their effort into operating the Company in a prudent manner, pending the legal proceedings that is expected to ultimately solve the situation for EAM.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__20": { "value": "The financial statements and figures presented in the directors\u2019 report are prepared under the assumption of going concern. The reason for preparing the financial statements as going concern is due to the board\u2019s opinion that the Group has sufficient liquidity for the next twelve months. The board and manager are placing all their effort into operating the Company in a prudent manner, pending the legal proceedings that is expected to ultimately solve the situation for EAM.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__21": { "value": "01.02 Consolidation principlesThe consolidated financial statements comprise the financial statements of the Group and its subsidiaries at 31 December 2022.Subsidiaries are fully consolidated from the date of acquisition, being the date on which the Group obtains control, and continue to be consolidated until the date when such control ceases. The financial statements of the subsidiaries are prepared for the same reporting period as the parent company, using consistent accounting policies. All intra-group balances, transactions, unrealised gains and losses resulting from intragroup transac-tions and dividends are eliminated in full.The acquisition method is applied when accounting for business combi-nations. A change in the ownership interest of a subsidiary, without loss of control, is accounted for as an equity transaction. If the Group loses control over a subsidiary, it:\u2022 Derecognises the assets (including goodwill) and liabilities of the subsidiary\u2022 Derecognises the carrying amount of any non-controlling interest\u2022 Derecognises the cumulative transaction differences recorded in equity\u2022 Recognises the fair value of any investment retained\u2022 Recognises any surplus or deficit in profit or loss\u2022 Reclassifies the parent\u2019s share of components previously recognised in other comprehensive income to profit or loss or retained earnings, as appropriate.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__22-1": { "value": "01.03 Use of estimates in the financial statementsManagement has used estimates and assumptions that have affected assets, liabilities, incomes, expenses, deferred tax asset and information on poten-tial liabilities.Future events may lead to estimates being changed and estimates and their underlying assumptions are reviewed on a regular basis. Changes in accounting estimates are recognised during the period when the changes take place. If the changes also apply to future periods, the effect is accounted for prospectively. See also note 4.NOTE 04 SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES, ASSUMPTIONS AND COMPARABLE FIGURESIn the process of applying the Group\u2019s accounting policies in accordance to IFRS, management has made several judgements and estimates. All estimates are assessed to the most probable outcome based on the management\u2019s best knowledge. Changes in key assumptions may have significant effect and may cause material adjustments to the carrying amounts of assets and liabilities, equity, and the profit for the year. The Company\u2019s most important accounting estimates are the following items:Revenue and receivablesThe Group has receivables against various parties including the Italian state and companies involved in the criminal proceedings in Milano. It is uncertainty regarding the willingness or ability for these parties to pay. To the extent the Company or its subsidiary is aware of any doubt in the likelihood of collecting such receivable a provision has been made. Significant judgement is required in estimating the soundness of such receivable.In the case of ENFO 25 where the Company received a GSE order to suspend the incentives and relevant payments of feed-in-tariff, the Company has decided to recognise revenue in full.The Administrative Court of Lazio (TAR) has decided in a court ruling on 12 July 2021 that the termination decision made by GSE on the FIT contract for ENFO25 in September 2019 is invalid and consequently cancelled.GSE has not paid the FIT tariff for the electricity delivered by ENFO 25 since July 2019, and currently owe approximately EUR 815 thousand in unpaid electricity bills to ENFO 25. The Administrative Court also ordered GSE to cover the legal costs of EAM Solar ASA.Management has evaluated the situation of ENFO 25 and its net receivable position against GSE at year end, concluding that it is more likely than not, that the net receivable against GSE will not be collected. Based on this conclusion the trade receivable against GSE and the corresponding provision of payable is written down and the net amount recog-nised as an operating cost, write down of trade receivables. Revenues recognition and reporting of revenues for 2022 remains unchanged.Tax assetsThe Group has recognised deferred tax asset because it is considered that it is probable that future taxable amounts will be available to utilise those temporary differences. If such assumption proves to be incorrect the tax can be lost partly or in its entirety. Total recognised tax asset at the reporting date is EUR 64 018.", "dimensions": { "concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__24": { "value": "01.04 Foreign currencyThe Group\u2019s consolidated financial statements are presented in EUR. Each entity in the Group determines its own functional currency, and items included in the financial statements of each entity are measured using that functional currency.Transactions in foreign currencyTransactions in foreign currency are translated at the rate applicable on the transaction date. Monetary items in a foreign currency are translated into the functional currency using the exchange rate applicable at the end of the reporting period.Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchanges at the date when the fair value is determined. Change in exchange rates are recognised in the statement of comprehensive income as they occur during the accounting period.Foreign operationsOn consolidation, the assets and liabilities of operations with a functional currency other than the EUR are translated to EUR at the rate of exchange prevailing at the reporting date and their statements of comprehensive income are translated at exchange rates prevailing at the dates of the trans-actions.The average exchange rates are used as an approximation of the transaction exchange rate. The exchange differences arising on translation for consolida-tion are recognised in other comprehensive income. On disposal of a foreign operation, the accumulated translation differences relating to the subsidiary are recognised in the statement of comprehensive income.Translation differences arising from the translation of a net investment in foreign operations are specified as translation differences in the statement of equity.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__23": { "value": "01.04 Foreign currencyThe Group\u2019s consolidated financial statements are presented in EUR. Each entity in the Group determines its own functional currency, and items included in the financial statements of each entity are measured using that functional currency.Transactions in foreign currencyTransactions in foreign currency are translated at the rate applicable on the transaction date. Monetary items in a foreign currency are translated into the functional currency using the exchange rate applicable at the end of the reporting period.Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchanges at the date when the fair value is determined. Change in exchange rates are recognised in the statement of comprehensive income as they occur during the accounting period.Foreign operationsOn consolidation, the assets and liabilities of operations with a functional currency other than the EUR are translated to EUR at the rate of exchange prevailing at the reporting date and their statements of comprehensive income are translated at exchange rates prevailing at the dates of the trans-actions.The average exchange rates are used as an approximation of the transaction exchange rate. The exchange differences arising on translation for consolida-tion are recognised in other comprehensive income. On disposal of a foreign operation, the accumulated translation differences relating to the subsidiary are recognised in the statement of comprehensive income.Translation differences arising from the translation of a net investment in foreign operations are specified as translation differences in the statement of equity.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__27": { "value": "01.05 Revenue recognitionRevenue is recognized when a customer obtains control of the goods or services.Sale of solar powerEAM owns and operates four solar power plants in Italy, which generate electricity. Revenue from the sale of electricity is recognised in the statement of comprehensive income once delivery has taken place and the risk and return have been transferred.All EAM\u2019s electricity sales are made under 20-year sale agreements in the feed-in-tariff (FIT) scheme, with the Italian renewable energy authority Gestore Servizi Energetici (GSE) as commercial counterparty.In 2022 the Italian authorities set a limit on the market price to be realised for renewable energy and makde the reductions applicable for companies with FIT contracts. More information on the Sostegni Ter Decree can be found under Financial Review above.In previous years, the fixed price sales contracts (FIT) accounted for approx-imately 80 per cent of revenues, with electricity sales at market prices accounting for approximately 20 per cent. This was substantially changed in 2022 where the FIT revenue accounted for approximately 40 per cent and market price revenue accounted for approximately 60 per cent of the revenue, prior to taking reduction under the Decree into consideration.Market price contracts are renewed yearly.Interest incomeFor all financial instruments measured at amortised cost, interest income or expense is recorded using the effective interest rate (EIR), which is the rate which exactly discounts the estimated future cash payments or receipts through the expected life of the financial instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset or liability. Interest income is included in finance income in the statement of comprehensive income.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__30": { "value": "01.06 SegmentsThe Group owns and operates four solar PV power plants in Italy as of year-end 2022 and thus only one segment both geographically and nature wise. Further information relating to segments is presented in note 9.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__32": { "value": "01.07 Income taxIncome tax consists of tax payable and changes to deferred tax. Deferred tax liability/tax asset is calculated on all differences between the carrying and tax value of assets and liabilities, with the exception of temporary differences related to investments in subsidiaries where the Group controls when the temporary differences are to be reversed and this is not expected to take place in the foreseeable future.Deferred tax assets are recognised when it is probable that the company will have a sufficient profit for tax purposes in subsequent periods to utilise the deferred tax asset. The companies recognise previously unrecognised deferred tax assets to the extent it has become probable that the company can utilise the deferred tax asset. Similarly, the company will reduce a deferred tax asset to the extent that the company no longer regards it as probable that it can utilise the deferred tax asset.Deferred tax liability and deferred tax asset are measured on the basis of the expected future tax rates applicable to the companies in the Group where temporary differences have arisen.Deferred tax liability and deferred tax asset are recognised at their nominal value and classified as non-current asset investments (long-term liabilities) in the balance sheet. Tax payable and deferred tax are recognised directly in equity to the extent that they relate to equity transactions.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__31": { "value": "01.07 Income taxIncome tax consists of tax payable and changes to deferred tax. Deferred tax liability/tax asset is calculated on all differences between the carrying and tax value of assets and liabilities, with the exception of temporary differences related to investments in subsidiaries where the Group controls when the temporary differences are to be reversed and this is not expected to take place in the foreseeable future.Deferred tax assets are recognised when it is probable that the company will have a sufficient profit for tax purposes in subsequent periods to utilise the deferred tax asset. The companies recognise previously unrecognised deferred tax assets to the extent it has become probable that the company can utilise the deferred tax asset. Similarly, the company will reduce a deferred tax asset to the extent that the company no longer regards it as probable that it can utilise the deferred tax asset.Deferred tax liability and deferred tax asset are measured on the basis of the expected future tax rates applicable to the companies in the Group where temporary differences have arisen.Deferred tax liability and deferred tax asset are recognised at their nominal value and classified as non-current asset investments (long-term liabilities) in the balance sheet. Tax payable and deferred tax are recognised directly in equity to the extent that they relate to equity transactions.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__35-1": { "value": "01.08 Property, plant and equipmentAll property, plant, and equipment (including solar power plants) are valued at their cost less accumulated depreciation and impairment. When assets are sold or disposed of, the carrying amount is derecognised and any gain or loss is recognised in the statement of comprehensive income.The cost of tangible non-current assets is the purchase price, including taxes/duties and costs directly linked to preparing the asset for its intended use. Costs incurred after the asset is in use, such as regular maintenance costs, are recognised in the statement of comprehensive income as incurred, while other costs expected to provide future financial benefits are capital-ised.Depreciation is calculated using the straight-line method over the following useful lives:\u2022 Movers, modules and cable connectors 20 years\u2022 Land lease rights 25 yearsThe depreciation period and method are assessed each year. A residual value is estimated at each year-end, and changes to the estimated residual value are recognised as a change in an estimate.01.09 LeasesThe Group has adopted IFRS 16 from 1 January 2019. The standard replaces IAS 17 \u2018Leases\u2019 and for lessees eliminates the classifications of operating leases and finance leases.Right-of-use assetsA right-of-use asset is recognised at the commencement date of a lease. The right-of-use asset is measured at cost, which comprises the initial amount of the lease liability, adjusted for, as applicable, any lease payments made at or before the commencement date net of any lease incentives received, any initial direct costs incurred, and, except where included in the cost of inventories, an estimate of costs expected to be incurred for dismantling and removing the underlying asset, and restoring the site or asset.Right-of-use assets are depreciated on a straight-line basis over the unex-pired period of the lease or the estimated useful life of the asset, whichever is the shorter. Right-of use assets are subject to impairment or adjusted for any remeasurement of lease liabilities.Lease liabilitiesA lease liability is recognised at the commencement date of a lease. The lease liability is initially recognised at the present value of the lease payments to be made over the term of the lease, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the consolidated entity\u2019s incremental borrowing rate. Lease payments comprise of fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, amounts expected to be paid under residual value guarantees, exercise price of a purchase option when the exercise of the option is reasonably certain to occur, and any anticipated termination penalties. The variable lease payments that do not depend on an index or a rate are expensed in the period in which they are incurred.Lease liabilities are measured at amortised cost using the effective interest method. The carrying amounts are remeasured if there is a change in the following: future lease payments arising from a change in an index, or a rate used; residual guarantee; lease term; certainty of a purchase option and termination penalties. When a lease liability is remeasured, an adjustment is made to the corresponding right-of use asset, or to profit or loss if the carrying amount of the right-of-use asset is fully written down.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__34-1": { "value": "01.08 Property, plant and equipmentAll property, plant, and equipment (including solar power plants) are valued at their cost less accumulated depreciation and impairment. When assets are sold or disposed of, the carrying amount is derecognised and any gain or loss is recognised in the statement of comprehensive income.The cost of tangible non-current assets is the purchase price, including taxes/duties and costs directly linked to preparing the asset for its intended use. Costs incurred after the asset is in use, such as regular maintenance costs, are recognised in the statement of comprehensive income as incurred, while other costs expected to provide future financial benefits are capital-ised.Depreciation is calculated using the straight-line method over the following useful lives:\u2022 Movers, modules and cable connectors 20 years\u2022 Land lease rights 25 yearsThe depreciation period and method are assessed each year. A residual value is estimated at each year-end, and changes to the estimated residual value are recognised as a change in an estimate.01.09 LeasesThe Group has adopted IFRS 16 from 1 January 2019. The standard replaces IAS 17 \u2018Leases\u2019 and for lessees eliminates the classifications of operating leases and finance leases.Right-of-use assetsA right-of-use asset is recognised at the commencement date of a lease. The right-of-use asset is measured at cost, which comprises the initial amount of the lease liability, adjusted for, as applicable, any lease payments made at or before the commencement date net of any lease incentives received, any initial direct costs incurred, and, except where included in the cost of inventories, an estimate of costs expected to be incurred for dismantling and removing the underlying asset, and restoring the site or asset.Right-of-use assets are depreciated on a straight-line basis over the unex-pired period of the lease or the estimated useful life of the asset, whichever is the shorter. Right-of use assets are subject to impairment or adjusted for any remeasurement of lease liabilities.Lease liabilitiesA lease liability is recognised at the commencement date of a lease. The lease liability is initially recognised at the present value of the lease payments to be made over the term of the lease, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the consolidated entity\u2019s incremental borrowing rate. Lease payments comprise of fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, amounts expected to be paid under residual value guarantees, exercise price of a purchase option when the exercise of the option is reasonably certain to occur, and any anticipated termination penalties. The variable lease payments that do not depend on an index or a rate are expensed in the period in which they are incurred.Lease liabilities are measured at amortised cost using the effective interest method. The carrying amounts are remeasured if there is a change in the following: future lease payments arising from a change in an index, or a rate used; residual guarantee; lease term; certainty of a purchase option and termination penalties. When a lease liability is remeasured, an adjustment is made to the corresponding right-of use asset, or to profit or loss if the carrying amount of the right-of-use asset is fully written down.01.10 Business combinations and goodwillBusiness combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, measured at acquisition-date fair value and at the amount of any non-controlling interest in the acquired company. For each business combination, the Group elects whether it measures the non-controlling interest in the acquired company either at fair value or at the proportionate share of the acquired company\u2019s identifiable net assets. Acquisition costs incurred are expensed.When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accord-ance with the contractual terms, economic circumstances and pertinent conditions at the acquisition date. This includes the separation of embedded derivatives in host contracts by the acquired company.If the business combination is achieved in stages, the acquisition date fair value of the acquirer\u2019s previously held equity interest in the acquired company is measured to fair value at the acquisition date through profit and loss.Contingent consideration to be transferred by the acquirer is recognised at the acquisition-date fair value. Subsequent changes in the fair value of the contingent consideration classified as an asset or liability is recognised in profit or loss. Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity.Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognised for non-controlling interest over the net identifiable assets acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsid-iary acquired, the difference is recognised as profit or loss.After initial recording, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group\u2019s cash-generating units which are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquire are assigned to those units.Where goodwill forms part of a cash-generating unit and part of the operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss of the operation. Goodwill disposed of in this circumstance is measured on the basis of the relative value of the opera-tion disposed of and the portion of the cash-generating unit retained.Bargain purchase transactionsIf the net of the acquisition-date fair values of identifiable assets acquired and the liabilities assumed exceeds the aggregate of the consideration transferred (measured at acquisition-date fair value), the excess amount is recognised as a gain in the statement of comprehensive income on the acquisition date. Having done so, the company has reviewed the procedures used to measure all of the following:\u2022 the identifiable assets acquired, and liabilities assumed\u2022 the non-controlling interest in the acquired, if any\u2022 The consideration transferred01.19 Intangible assetsIntangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intan-gible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__33": { "value": "01.08 Property, plant and equipmentAll property, plant, and equipment (including solar power plants) are valued at their cost less accumulated depreciation and impairment. When assets are sold or disposed of, the carrying amount is derecognised and any gain or loss is recognised in the statement of comprehensive income.The cost of tangible non-current assets is the purchase price, including taxes/duties and costs directly linked to preparing the asset for its intended use. Costs incurred after the asset is in use, such as regular maintenance costs, are recognised in the statement of comprehensive income as incurred, while other costs expected to provide future financial benefits are capital-ised.Depreciation is calculated using the straight-line method over the following useful lives:\u2022 Movers, modules and cable connectors 20 years\u2022 Land lease rights 25 yearsThe depreciation period and method are assessed each year. A residual value is estimated at each year-end, and changes to the estimated residual value are recognised as a change in an estimate.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__42-1": { "value": "01.10 Business combinations and goodwillBusiness combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, measured at acquisition-date fair value and at the amount of any non-controlling interest in the acquired company. For each business combination, the Group elects whether it measures the non-controlling interest in the acquired company either at fair value or at the proportionate share of the acquired company\u2019s identifiable net assets. Acquisition costs incurred are expensed.When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accord-ance with the contractual terms, economic circumstances and pertinent conditions at the acquisition date. This includes the separation of embedded derivatives in host contracts by the acquired company.If the business combination is achieved in stages, the acquisition date fair value of the acquirer\u2019s previously held equity interest in the acquired company is measured to fair value at the acquisition date through profit and loss.Contingent consideration to be transferred by the acquirer is recognised at the acquisition-date fair value. Subsequent changes in the fair value of the contingent consideration classified as an asset or liability is recognised in profit or loss. Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity.Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognised for non-controlling interest over the net identifiable assets acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsid-iary acquired, the difference is recognised as profit or loss.After initial recording, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group\u2019s cash-generating units which are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquire are assigned to those units.Where goodwill forms part of a cash-generating unit and part of the operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss of the operation. Goodwill disposed of in this circumstance is measured on the basis of the relative value of the opera-tion disposed of and the portion of the cash-generating unit retained.Bargain purchase transactionsIf the net of the acquisition-date fair values of identifiable assets acquired and the liabilities assumed exceeds the aggregate of the consideration transferred (measured at acquisition-date fair value), the excess amount is recognised as a gain in the statement of comprehensive income on the acquisition date. Having done so, the company has reviewed the procedures used to measure all of the following:\u2022 the identifiable assets acquired, and liabilities assumed\u2022 the non-controlling interest in the acquired, if any\u2022 The consideration transferred01.19 Intangible assetsIntangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intan-gible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__40": { "value": "01.10 Business combinations and goodwillBusiness combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, measured at acquisition-date fair value and at the amount of any non-controlling interest in the acquired company. For each business combination, the Group elects whether it measures the non-controlling interest in the acquired company either at fair value or at the proportionate share of the acquired company\u2019s identifiable net assets. Acquisition costs incurred are expensed.When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accord-ance with the contractual terms, economic circumstances and pertinent conditions at the acquisition date. This includes the separation of embedded derivatives in host contracts by the acquired company.If the business combination is achieved in stages, the acquisition date fair value of the acquirer\u2019s previously held equity interest in the acquired company is measured to fair value at the acquisition date through profit and loss.Contingent consideration to be transferred by the acquirer is recognised at the acquisition-date fair value. Subsequent changes in the fair value of the contingent consideration classified as an asset or liability is recognised in profit or loss. Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity.Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognised for non-controlling interest over the net identifiable assets acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsid-iary acquired, the difference is recognised as profit or loss.After initial recording, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group\u2019s cash-generating units which are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquire are assigned to those units.Where goodwill forms part of a cash-generating unit and part of the operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss of the operation. Goodwill disposed of in this circumstance is measured on the basis of the relative value of the opera-tion disposed of and the portion of the cash-generating unit retained.Bargain purchase transactionsIf the net of the acquisition-date fair values of identifiable assets acquired and the liabilities assumed exceeds the aggregate of the consideration transferred (measured at acquisition-date fair value), the excess amount is recognised as a gain in the statement of comprehensive income on the acquisition date. Having done so, the company has reviewed the procedures used to measure all of the following:\u2022 the identifiable assets acquired, and liabilities assumed\u2022 the non-controlling interest in the acquired, if any\u2022 The consideration transferred", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__44": { "value": "Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, measured at acquisition-date fair value and at the amount of any non-controlling interest in the acquired company. For each business combination, the Group elects whether it measures the non-controlling interest in the acquired company either at fair value or at the proportionate share of the acquired company\u2019s identifiable net assets. Acquisition costs incurred are expensed.When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accord-ance with the contractual terms, economic circumstances and pertinent conditions at the acquisition date. This includes the separation of embedded derivatives in host contracts by the acquired company.If the business combination is achieved in stages, the acquisition date fair value of the acquirer\u2019s previously held equity interest in the acquired company is measured to fair value at the acquisition date through profit and loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__49": { "value": "01.11 Classification and measurement of financial assets and liabilitiesTrade and other receivablesTrade receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any allowance for expected credit losses. Trade receivables are generally due for settlement within 60 days for the feed-in-tariff contracts, and 15 days for the market price contracts.The Group has applied the simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance. To measure the expected credit losses, trade receivables have been grouped based on days overdue.Other receivables are recognised at amortised cost, less any allowance for expected credit losses.Trade and other payablesThese amounts represent liabilities for goods and services provided to the Group prior to the end of the financial year and which are unpaid. Due to their short-term nature, they are measured at amortised cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__48": { "value": "01.11 Classification and measurement of financial assets and liabilitiesTrade and other receivablesTrade receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any allowance for expected credit losses. Trade receivables are generally due for settlement within 60 days for the feed-in-tariff contracts, and 15 days for the market price contracts.The Group has applied the simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance. To measure the expected credit losses, trade receivables have been grouped based on days overdue.Other receivables are recognised at amortised cost, less any allowance for expected credit losses.Trade and other payablesThese amounts represent liabilities for goods and services provided to the Group prior to the end of the financial year and which are unpaid. Due to their short-term nature, they are measured at amortised cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__47": { "value": "01.11 Classification and measurement of financial assets and liabilitiesTrade and other receivablesTrade receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any allowance for expected credit losses. Trade receivables are generally due for settlement within 60 days for the feed-in-tariff contracts, and 15 days for the market price contracts.The Group has applied the simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance. To measure the expected credit losses, trade receivables have been grouped based on days overdue.Other receivables are recognised at amortised cost, less any allowance for expected credit losses.Trade and other payablesThese amounts represent liabilities for goods and services provided to the Group prior to the end of the financial year and which are unpaid. Due to their short-term nature, they are measured at amortised cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__50": { "value": "Trade and other receivablesTrade receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any allowance for expected credit losses. Trade receivables are generally due for settlement within 60 days for the feed-in-tariff contracts, and 15 days for the market price contracts.The Group has applied the simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance. To measure the expected credit losses, trade receivables have been grouped based on days overdue.Other receivables are recognised at amortised cost, less any allowance for expected credit losses.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__51-1": { "value": "Other receivables are recognised at amortised cost, less any allowance for expected credit losses.Trade and other payablesThese amounts represent liabilities for goods and services provided to the Group prior to the end of the financial year and which are unpaid. Due to their short-term nature, they are measured at amortised cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__54": { "value": "01.12 Cash and cash equivalentsCash includes cash in hand, at the bank or cash seized by the Prosecutors Office of Milan.Cash equivalents are short-term liquid investments which can be immedi-ately converted into a known amount of cash and have a maximum term to maturity of three months.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__53": { "value": "01.12 Cash and cash equivalentsCash includes cash in hand, at the bank or cash seized by the Prosecutors Office of Milan.Cash equivalents are short-term liquid investments which can be immedi-ately converted into a known amount of cash and have a maximum term to maturity of three months.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__56": { "value": "01.14 ProvisionsA provision is recognised when the Group has an obligation (legal or constructive) as a result of a previous event, it is probable (more likely than not) that a financial settlement will take place as a result of this obligation, and the size of the amount can be measured reliably. If the effect is consid-erable, the provision is calculated by discounting estimated future cash flows using a discount rate before tax which reflects the market\u2019s pricing of the time value of money and, if relevant, risks specifically linked to the obligation.Restructuring provisions are recognised when the Group has approved a detailed, formal restructuring plan and the restructuring has either started or been publicly announced.Provisions for loss-making contracts are recognised when the Group\u2019s estimated revenues from a contract are lower than unavoidable costs that were incurred to meet the obligations pursuant to the contract.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__57": { "value": "01.15 Contingent liabilities and assetsContingent liabilities are not recognised in the annual accounts. Significant contingent liabilities are disclosed, with the exception of contingent liabili-ties that are unlikely to be incurred.Contingent assets are not recognised in the annual accounts but are disclosed if there is a certain probability that a benefit will be added to the Group.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__59": { "value": "01.17 Derivative financial instruments and hedging activitiesDerivatives at fair value not classified as hedging instruments are carried in the statement of financial position at fair value with net changes in fair value in profit and loss statement.The categories include foreign exchange contracts and interest rate swaps.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__60": { "value": "01.18 Earnings per shareEarnings per share are calculated by dividing the majority shareholders\u2019 share of the profit/loss for the period by the weighted average number of ordinary shares outstanding over the course of the period. When calculating diluted earnings per share, the average number of shares outstanding is adjusted for all share options that have a potential dilutive effect. Options that have a dilutive effect are treated as shares from the date they are issued.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__63-1": { "value": "01.19 Intangible assetsIntangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intan-gible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates.NOTE 21 INTANGIBLE ASSETS2022 Intangible assetsCarrying value 1 January 2022 9 801Additions -Write downs -Depreciation (700)Disposals -Currency translation effect -Carrying value 31 December 2022 9 1012021 Intangible assetsCarrying value 1 January 2021 10 501Additions -Write downs -Depreciation (700)Disposals -Currency translation effect -Carrying value 31 December 2021 9 801Intangible assets are depreciated linear over the lifetime of the FIT contracts. The FIT contract period is running to 2031.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__71": { "value": "NOTE 03 LIST OF SUBSIDIARIESThe following subsidiaries are included in the consolidated financial statements. Profit and equity below is from the last audited financial statements of the subsidiaries (2021), presented in ITA GAAP.Company Country Principal activity Ownership Vote Profit Equity2021EAM Solar Italy Holding Srl Italy Holding company 100% 100% (3 094 069) (2 979 069)Ens Solar One Srl Italy Solar power plant 100% 100% (60 120) 187 052Energia Fotovoltaica 25 Srl Italy Solar power plant 100% 100% 63 865 270 562 All subsidiaries based in Italy have registered office at Piazza Cinque Giornate 10, 20129 Milano, Italy.EAM Solar ASA Energia Fotovoltaica 25 Srl (IT)EAM Solar Italy Holding Srl (IT) ENS Solar One Srl (IT)ENFO 25 Operational Company Holding Company Power plantBrundesini", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__70": { "value": "NOTE 03 LIST OF SUBSIDIARIESThe following subsidiaries are included in the consolidated financial statements. Profit and equity below is from the last audited financial statements of the subsidiaries (2021), presented in ITA GAAP.Company Country Principal activity Ownership Vote Profit Equity2021EAM Solar Italy Holding Srl Italy Holding company 100% 100% (3 094 069) (2 979 069)Ens Solar One Srl Italy Solar power plant 100% 100% (60 120) 187 052Energia Fotovoltaica 25 Srl Italy Solar power plant 100% 100% 63 865 270 562 All subsidiaries based in Italy have registered office at Piazza Cinque Giornate 10, 20129 Milano, Italy.EAM Solar ASA Energia Fotovoltaica 25 Srl (IT)EAM Solar Italy Holding Srl (IT) ENS Solar One Srl (IT)ENFO 25 Operational Company Holding Company Power plantBrundesini", "dimensions": { "concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__74": { "value": "NOTE 04 SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES, ASSUMPTIONS AND COMPARABLE FIGURESIn the process of applying the Group\u2019s accounting policies in accordance to IFRS, management has made several judgements and estimates. All estimates are assessed to the most probable outcome based on the management\u2019s best knowledge. Changes in key assumptions may have significant effect and may cause material adjustments to the carrying amounts of assets and liabilities, equity, and the profit for the year. The Company\u2019s most important accounting estimates are the following items:Revenue and receivablesThe Group has receivables against various parties including the Italian state and companies involved in the criminal proceedings in Milano. It is uncertainty regarding the willingness or ability for these parties to pay. To the extent the Company or its subsidiary is aware of any doubt in the likelihood of collecting such receivable a provision has been made. Significant judgement is required in estimating the soundness of such receivable.In the case of ENFO 25 where the Company received a GSE order to suspend the incentives and relevant payments of feed-in-tariff, the Company has decided to recognise revenue in full.The Administrative Court of Lazio (TAR) has decided in a court ruling on 12 July 2021 that the termination decision made by GSE on the FIT contract for ENFO25 in September 2019 is invalid and consequently cancelled.GSE has not paid the FIT tariff for the electricity delivered by ENFO 25 since July 2019, and currently owe approximately EUR 815 thousand in unpaid electricity bills to ENFO 25. The Administrative Court also ordered GSE to cover the legal costs of EAM Solar ASA.Management has evaluated the situation of ENFO 25 and its net receivable position against GSE at year end, concluding that it is more likely than not, that the net receivable against GSE will not be collected. Based on this conclusion the trade receivable against GSE and the corresponding provision of payable is written down and the net amount recog-nised as an operating cost, write down of trade receivables. Revenues recognition and reporting of revenues for 2022 remains unchanged.Tax assetsThe Group has recognised deferred tax asset because it is considered that it is probable that future taxable amounts will be available to utilise those temporary differences. If such assumption proves to be incorrect the tax can be lost partly or in its entirety. Total recognised tax asset at the reporting date is EUR 64 018.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__73": { "value": "NOTE 04 SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES, ASSUMPTIONS AND COMPARABLE FIGURESIn the process of applying the Group\u2019s accounting policies in accordance to IFRS, management has made several judgements and estimates. All estimates are assessed to the most probable outcome based on the management\u2019s best knowledge. Changes in key assumptions may have significant effect and may cause material adjustments to the carrying amounts of assets and liabilities, equity, and the profit for the year. The Company\u2019s most important accounting estimates are the following items:Revenue and receivablesThe Group has receivables against various parties including the Italian state and companies involved in the criminal proceedings in Milano. It is uncertainty regarding the willingness or ability for these parties to pay. To the extent the Company or its subsidiary is aware of any doubt in the likelihood of collecting such receivable a provision has been made. Significant judgement is required in estimating the soundness of such receivable.In the case of ENFO 25 where the Company received a GSE order to suspend the incentives and relevant payments of feed-in-tariff, the Company has decided to recognise revenue in full.The Administrative Court of Lazio (TAR) has decided in a court ruling on 12 July 2021 that the termination decision made by GSE on the FIT contract for ENFO25 in September 2019 is invalid and consequently cancelled.GSE has not paid the FIT tariff for the electricity delivered by ENFO 25 since July 2019, and currently owe approximately EUR 815 thousand in unpaid electricity bills to ENFO 25. The Administrative Court also ordered GSE to cover the legal costs of EAM Solar ASA.Management has evaluated the situation of ENFO 25 and its net receivable position against GSE at year end, concluding that it is more likely than not, that the net receivable against GSE will not be collected. Based on this conclusion the trade receivable against GSE and the corresponding provision of payable is written down and the net amount recog-nised as an operating cost, write down of trade receivables. Revenues recognition and reporting of revenues for 2022 remains unchanged.Tax assetsThe Group has recognised deferred tax asset because it is considered that it is probable that future taxable amounts will be available to utilise those temporary differences. If such assumption proves to be incorrect the tax can be lost partly or in its entirety. Total recognised tax asset at the reporting date is EUR 64 018.", "dimensions": { "concept": "ifrs-full:DisclosureOfAssetsAndLiabilitiesWithSignificantRiskOfMaterialAdjustmentExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__75": { "value": "NOTE 05 OTHER OPERATING EXPENSESVAT is not included in the fees specified below.Specification of auditor's fee 2022 2021Statutory audit 67 130 55 298Other services from RSM Advokat AS 2 682 6 887Other services 3 263 15 726Total fee to auditor's 73 075 77 911RSM Advokat AS is a related party to the auditor RSM.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__77": { "value": "NOTE 07 TRANSACTIONS WITH RELATED PARTIESRelated partiesEnergeia AS is the manager of EAM. Energeia AS in Norway and Italy employs or subcontract all of the personnel conducting the technical and administrative services for EAM. Energeia AS owns 9.5 per cent of the shares in EAM.Sundt AS and Canica AS are shareholders in EAM. They are also shareholders in Energeia AS, but not involved in the day-to-day operations of Energeia AS. Sundt AS was represented on the board of directors of Energeia AS until 13 December 2022. Certain key personnel managing the day-to-day operations of EAM are also investors in Energeia AS.Transactions with related partiesAll the transactions have been carried out as part of the ordinary operations and at arms-length prices.In 2022 Energeia direct costs of the management of EAM was EUR 909 thousand (2021: EUR 1.03 m). For 2022 the direct cost was EUR 0.20 per kWh based on full year figures. (Against EUR 0.23 per kWh in 2021).On 15 August 2019 EAM Solar ASA sold the shares in the subsidiary EAM Solar Norway Holding AS to Energeia AS. The Board of Directors decided to conduct this sale in order to protect and secure the financial integrity of EAM Solar ASA.The final sales price for the shares consisted of two elements; 1) a fixed price for the shares, and 2) a profit split if Energeia sold the power plants with a profit before year-end 2020. On 30 April 2020 Energeia AS sold the power plants indirectly owned by EAM Solar Norway Holding AS to a third party.Since Energeia AS sold the power plants in 2020, EAM Solar ASA is entitled to receive 75 per cent of any net capital gains realized by Energeia AS above the purchase price from EAM Solar ASA. The provisional capital gain for EAM Solar ASA is estimated to be NOK 70.9 million at year-end 2022. The sales price referred to was entered in the books in 2020, and that sum has largely been settled in 2022 and that there has been no adjustment in profit in 2022 and hence no effect on the result in 2022.The final determination of the total sales price including capital gain will be established in 2023.On 31 December 2022 the Group had net receivables from related parties (Energeia AS) of EUR 305 thousand. ENERGEIA AS OWNERSHIP AT YEAR ENDCompany/owner Ownership Person Position year-end 2021Jakobsen Energia AS 12.70% Viktor E Jakobsen Chief Exexcutive Officer of EAM Solar ASASundt AS 14.72% Family office Shareholder of EAM Solar ASANaben AS 4.90% Audun W Iversen Shareholder of EAM Solar ASACanica AS 6.20% Family office Shareholder of EAM Solar ASAAS Brdr. Michaelsen 6.38% Christian Hagemann Acting Chief Operating Officer of EAM Solar ASAJemma Invest AS 2.15% Jarl Egil Markussen Acting Chief Administrative Officer of EAM Solar ASAStanja AS 0.48% Stephan L. Jervell Board memeber of EAM Solar ASACerebrum Invest AS 0.09% Ragnhild M. Wiborg Chair of EAM Solar ASA (resigned 31 Jan 2023)Others 52.38%", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__81": { "value": "NOTE 08 FINANCIAL INCOME AND EXPENSESFinancial income (EUR) 2022 2021Interest income 3 898 6Foreign exchange gain 1 188 672 255 112Total financial income 1 192 570 255 118Financial expenses (EUR) 2022 2021Interest expense (172 589) (110 385)Foreign exchange losses (566 547) (951 839)Other financial expenses (25 849) (28 588)Total financial expenses (764 986) (1 090 812)Net financial income (expenses) 427 585 (835 694)The average exchange rate used for 12M 2022 is EUR/NOK 10.1040 (12M 2021 EUR/NOK 10.1648), whereas the exchange rate used on 31 December 2022 is EUR/NOK 10.5138 (31 December 2021: EUR/NOK 9.9888).", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__80": { "value": "NOTE 08 FINANCIAL INCOME AND EXPENSESFinancial income (EUR) 2022 2021Interest income 3 898 6Foreign exchange gain 1 188 672 255 112Total financial income 1 192 570 255 118Financial expenses (EUR) 2022 2021Interest expense (172 589) (110 385)Foreign exchange losses (566 547) (951 839)Other financial expenses (25 849) (28 588)Total financial expenses (764 986) (1 090 812)Net financial income (expenses) 427 585 (835 694)The average exchange rate used for 12M 2022 is EUR/NOK 10.1040 (12M 2021 EUR/NOK 10.1648), whereas the exchange rate used on 31 December 2022 is EUR/NOK 10.5138 (31 December 2021: EUR/NOK 9.9888).", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__83": { "value": "Financial income (EUR) 2022 2021Interest income 3 898 6Foreign exchange gain 1 188 672 255 112Total financial income 1 192 570 255 118", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__82": { "value": "Financial income (EUR) 2022 2021Interest income 3 898 6Foreign exchange gain 1 188 672 255 112Total financial income 1 192 570 255 118", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__85": { "value": "Financial expenses (EUR) 2022 2021Interest expense (172 589) (110 385)Foreign exchange losses (566 547) (951 839)Other financial expenses (25 849) (28 588)Total financial expenses (764 986) (1 090 812)Net financial income (expenses) 427 585 (835 694)The average exchange rate used for 12M 2022 is EUR/NOK 10.1040 (12M 2021 EUR/NOK 10.1648), whereas the exchange rate used on 31 December 2022 is EUR/NOK 10.5138 (31 December 2021: EUR/NOK 9.9888).", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__84": { "value": "Financial expenses (EUR) 2022 2021Interest expense (172 589) (110 385)Foreign exchange losses (566 547) (951 839)Other financial expenses (25 849) (28 588)Total financial expenses (764 986) (1 090 812)Net financial income (expenses) 427 585 (835 694)The average exchange rate used for 12M 2022 is EUR/NOK 10.1040 (12M 2021 EUR/NOK 10.1648), whereas the exchange rate used on 31 December 2022 is EUR/NOK 10.5138 (31 December 2021: EUR/NOK 9.9888).", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__86": { "value": "NOTE 09 SEGMENT INFORMATIONThe Group owns and operates four solar PV power plants in Italy as of year-end 2022. The business is investing in and operating power plants that have similar economic characteristics.During the year ended 31 December 2022 approximately EUR 914 thousand (2021: EUR 864 thousand) of the Group\u2019s external revenue was derived from sales to the Italian state, represented by GSE for the Feed In Tariff contracts.Approximately EUR 1 300 thousand (2021: EUR 469 thousand) of the Group\u2019s external revenue was derived from sales to an international commodities trading house for the market price contracts. Due to the implementation of the Sostegni Ter Decree, which is applicable for companies with Feed In Tariff contracts, the achieved market price of electricity has been limited to EUR 56 per MWh for the Company\u2019s power plants in the South of Italy.Based on the information received from GSE and the Decree, the Company has had an estimated electricity sales revenue reduction of EUR 998 thousand for the period from 1 February 2022 to 31 December 2022.", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__89": { "value": "NOTE 10 OPERATIONAL COSTS BREAKDOWN 2022Other & EUR EAM Solar Group ENS1 & ENFO25EliminationsRevenues 1 221 073 1 221 073 -Cost of operations (813 734) (747 208) (66 526)Land rent - - -Insurance (106 526) (40 000) (66 526)Operation & Maintenance (58 633) (58 633) -Energeia operating costs - - -Other operations costs (648 575) (648 575) -Sales, General & Administration (949 613) (330 884) (618 729)Accounting, audit & legal fees (145 226) (41 374) (103 852)IMU tax (12 898) (12 898) -Energeia direct costs (474 855) (155 586) (319 269)Other administrative costs (316 633) (121 026) (195 607)Legal costs (1 386 837) 24 (1 386 861)Legal costs (952 314) 24 (952 338)Energeia legal costs (434 523) - (434 523)EBITDA (1 929 111) 143 004 (2 072 115)", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__88": { "value": "NOTE 10 OPERATIONAL COSTS BREAKDOWN 2022Other & EUR EAM Solar Group ENS1 & ENFO25EliminationsRevenues 1 221 073 1 221 073 -Cost of operations (813 734) (747 208) (66 526)Land rent - - -Insurance (106 526) (40 000) (66 526)Operation & Maintenance (58 633) (58 633) -Energeia operating costs - - -Other operations costs (648 575) (648 575) -Sales, General & Administration (949 613) (330 884) (618 729)Accounting, audit & legal fees (145 226) (41 374) (103 852)IMU tax (12 898) (12 898) -Energeia direct costs (474 855) (155 586) (319 269)Other administrative costs (316 633) (121 026) (195 607)Legal costs (1 386 837) 24 (1 386 861)Legal costs (952 314) 24 (952 338)Energeia legal costs (434 523) - (434 523)EBITDA (1 929 111) 143 004 (2 072 115)", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__87": { "value": "NOTE 10 OPERATIONAL COSTS BREAKDOWN 2022Other & EUR EAM Solar Group ENS1 & ENFO25EliminationsRevenues 1 221 073 1 221 073 -Cost of operations (813 734) (747 208) (66 526)Land rent - - -Insurance (106 526) (40 000) (66 526)Operation & Maintenance (58 633) (58 633) -Energeia operating costs - - -Other operations costs (648 575) (648 575) -Sales, General & Administration (949 613) (330 884) (618 729)Accounting, audit & legal fees (145 226) (41 374) (103 852)IMU tax (12 898) (12 898) -Energeia direct costs (474 855) (155 586) (319 269)Other administrative costs (316 633) (121 026) (195 607)Legal costs (1 386 837) 24 (1 386 861)Legal costs (952 314) 24 (952 338)Energeia legal costs (434 523) - (434 523)EBITDA (1 929 111) 143 004 (2 072 115)", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__91": { "value": "Sales, General & Administration (949 613) (330 884) (618 729)", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__94": { "value": "NOTE 11 INCOME TAXThe basis for the recognition a deferred tax asset is forecasted results in the operating segments. There are no expiry dates on any of the losses carried forward. Property tax payable is expensed as an operating expense under SG&A.INCOME TAX EXPENSE(EUR) 2022 2021Current taxes 19 818 31 026Changes in deferred taxes 120 766 53 557Correction for previous years tax - -Total income tax expense 140 582 84 583Income tax net income 140 582 84 583Income tax other comprehensive income - -Total income tax expense 140 582 84 583TAX PAYABLE(EUR) 2022 2021Tax payable for the year 19 818 (31 026)Prepaid tax (19 818) 31 026Total payable tax - -Temporary differences NorwayReceivables - -Intercompany interest (5 361 669) (4 956 160)Total temporary differences (5 361 669) (4 956 160)Tax losses carried forward 816 680 1 422 599Tax losses carried forward not recognised as an asset (816 680) (1 422 599)Basis for deferred tax (5 361 669) (4 956 160)Deferred tax (804 250) (743 424)Temporary differences ItalyTangible assets 51 630 51 623Intangible assets - -Leasing 215 111 293 632Cash flow hedge - -Total temporary differences 266 741 345 255Tax losses carried forward 14 701 320 11 235 454Tax losses carried forward not recognised as an asset (14 701 320) (11 235 454)Basis for deferred tax asset 266 741 345 255Deferred tax asset 64 018 82 863TAX EXPENSE RECONCILIATION(EUR) 2022 2021Profit before tax (2 065 101) (3 689 749)Corporation tax charge thereon at 22% (2019: 22%) (454 322) (811 745)Adjusted for the effects of:Expenses not deductible for tax purposes 123 790 107 185Gain from sale, not taxable -Change in temporary differences - 23 597Change in tax rates - -Different tax rates in foreign jurisdictions (513 108) (203 543)Change in tax loss not carried forward 882 304 934 609Change in deferred tax - -Withholding tax on intercompany interest 101 921 28 666Adjustments to tax in respect of previous periods - -Translation differences - -Other minor items (3) 5 814Income tax expense for the year 140 582 84 583Effective tax rate (7%) (2%)", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__93": { "value": "NOTE 11 INCOME TAXThe basis for the recognition a deferred tax asset is forecasted results in the operating segments. There are no expiry dates on any of the losses carried forward. Property tax payable is expensed as an operating expense under SG&A.INCOME TAX EXPENSE(EUR) 2022 2021Current taxes 19 818 31 026Changes in deferred taxes 120 766 53 557Correction for previous years tax - -Total income tax expense 140 582 84 583Income tax net income 140 582 84 583Income tax other comprehensive income - -Total income tax expense 140 582 84 583TAX PAYABLE(EUR) 2022 2021Tax payable for the year 19 818 (31 026)Prepaid tax (19 818) 31 026Total payable tax - -Temporary differences NorwayReceivables - -Intercompany interest (5 361 669) (4 956 160)Total temporary differences (5 361 669) (4 956 160)Tax losses carried forward 816 680 1 422 599Tax losses carried forward not recognised as an asset (816 680) (1 422 599)Basis for deferred tax (5 361 669) (4 956 160)Deferred tax (804 250) (743 424)Temporary differences ItalyTangible assets 51 630 51 623Intangible assets - -Leasing 215 111 293 632Cash flow hedge - -Total temporary differences 266 741 345 255Tax losses carried forward 14 701 320 11 235 454Tax losses carried forward not recognised as an asset (14 701 320) (11 235 454)Basis for deferred tax asset 266 741 345 255Deferred tax asset 64 018 82 863TAX EXPENSE RECONCILIATION(EUR) 2022 2021Profit before tax (2 065 101) (3 689 749)Corporation tax charge thereon at 22% (2019: 22%) (454 322) (811 745)Adjusted for the effects of:Expenses not deductible for tax purposes 123 790 107 185Gain from sale, not taxable -Change in temporary differences - 23 597Change in tax rates - -Different tax rates in foreign jurisdictions (513 108) (203 543)Change in tax loss not carried forward 882 304 934 609Change in deferred tax - -Withholding tax on intercompany interest 101 921 28 666Adjustments to tax in respect of previous periods - -Translation differences - -Other minor items (3) 5 814Income tax expense for the year 140 582 84 583Effective tax rate (7%) (2%)", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__96": { "value": "TAX PAYABLE(EUR) 2022 2021Tax payable for the year 19 818 (31 026)Prepaid tax (19 818) 31 026Total payable tax - -Temporary differences NorwayReceivables - -Intercompany interest (5 361 669) (4 956 160)Total temporary differences (5 361 669) (4 956 160)Tax losses carried forward 816 680 1 422 599Tax losses carried forward not recognised as an asset (816 680) (1 422 599)Basis for deferred tax (5 361 669) (4 956 160)Deferred tax (804 250) (743 424)Temporary differences ItalyTangible assets 51 630 51 623Intangible assets - -Leasing 215 111 293 632Cash flow hedge - -Total temporary differences 266 741 345 255Tax losses carried forward 14 701 320 11 235 454Tax losses carried forward not recognised as an asset (14 701 320) (11 235 454)Basis for deferred tax asset 266 741 345 255Deferred tax asset 64 018 82 863", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__98": { "value": "NOTE 12 EARNINGS PER SHAREBasic earnings per share is calculated as the ratio of the profit for the year due to the shareholders of the parent company, divided by the weighted average number of ordinary shares outstanding. The Company had 6 852 210 shares outstanding on 31 December 2022. There is no dilutive potential on the ordinary shares, so the earnings will be the same for both basic and diluted basis.Earnings per share (EUR) 2022 2021Profit for holders of ordinary shares (2 205 683) (3 774 332)Basis for earnings per share (2 205 683) (3 774 332)Earnings per share (EUR) 2022 2021- Basic (0.32) (0.55)- Diluted (0.32) (0.55) 1 Earnings per share in NOK2022 2021Continued operation- Basic (3.25) (5.60)- Diluted (3.25) (5.60)Total shares outstanding at period end 6 852 210 6 852 210Weighted average number of ordinary shares oustanding 6 852 210 6 852 210Weighted average number of shares adjusted for dilutive shares 6 852 210 6 852 2101 Average NOK/EUR exchange rate 10.104 10.165", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__99": { "value": "NOTE 13 PROPERTY, PLANT AND EQUIPMENT2022Solar power Solar power Leashold (EUR)plantsplants under leaseimprovements TotalCarrying value 1 January 2022 1 470 610 4 755 529 312 119 6 538 257Additions - - 12 600 12 600Depreciation (113 958) (412 999) (35 919) (562 876)Carrying value 31 December 2022 1 356 652 4 342 529 288 800 5 987 9812021Solar power Solar power Leashold (EUR)plantsplants under leaseimprovements TotalCarrying value 1 January 2021 1 584 568 5 168 528 346 840 7 099 936Depreciation (113 958) (412 999) (34 722) (561 679)Carrying value 31 December 2021 1 470 610 4 755 529 312 119 6 538 257Economic life of 20\u201325 years and straight-line depreciationSolar power plants under lease include a plot of land, that is not being depreciated since the land has an unlimited useful life, with a carrying amount of EUR 572 thousand.(EUR) 2022 2021Plant and equipment - at cost 2 771 466 2 771 466Less: Accumulated depreciation (1 414 813) (1 300 856)1 356 653 1 470 610Plant and equipment under lease 8 041 834 8 041 834Less: Accumulated depreciation (3 699 305) (3 286 305)1 356 653 1 470 610Leasehold improvements - at cost 516 469 503 869Less: Accumulated depreciation (227 669) (191 750)288 800 312 119LeasingContracts that were Contracts identified as previously identified as Total obligationleases applying IFRS 16leases applying IAS 17 TotalENS Solar One 76 764 3 694 609 3 771 372Total obligation 31 December 2022 76 764 3 694 609 3 771 372Long term obligationAmount Amount TotalENS Solar One 72 612 3 267 924 3 340 536Total long term obligation 31 December 2022 72 612 3 267 924 3 340 536Short term obligationAmount Amount TotalENS Solar One 4 152 426 685 430 836Total short term obligation 31 December 2022 4 152 426 685 430 836The interest rate used for the recognition of contracts identified as leases applying IFRS 16 and contracts that were previously identified as leases applying IAS 17 is 4.92 per cent p.a., equal to the interest rate of the underlying agree-ments with the financial institution for obligations measured as of 31 December 2019. The contracts identified as leases applying IFRS 16 run to 2035. The contracts that were previously identified as leases applying IAS 17 run to 2030. The lease contracts recognized in applying IFRS 16 is the land rent and surface rights for ENS One, and the lease contracts that were previously identified as leases applying IAS 17 are leases of the solar power plants of ENS One. The \u201cRight Of Use\u201d is calculated as the same value as the lease obligation at the time of initial application.UNDISCOUNTED LEASE LIABILITIES AND MATURITY OF CASH OUTFLOWYear Amount2023 697 0002024 697 0002025 697 0002026 697 0002027 697 000After 2027 2 131 000Total undiscounted lease liabilities at 31 December 2022 5 616 000Contracts that were Contracts identified as previously identified as Summary of the lease liabilitiesleases applying IFRS 16leases applying IAS 17 TotalAt initial application 1 January 2022 80 915 4 099 749 4 180 664New lease liabilities recognised in the year - - -Cash payments lease (7 782) (608 466) (616 248)Interest expense on lease liabilities 3 630 203 325 206 955Disposal - - -Total lease liabilities at 31 December 2022 76 763 3 694 608 3 771 372The Company has chosen to apply the practical expedient laid out in IFRS 16 where there is no reassessment whether a contract is, or contains, a lease at the date of initial application. Instead IFRS 16 is applied to all contracts that were previously identified as leasing applying 17. Further, the Company has chosen to apply the modified retrospective approach in the new standard.", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__100": { "value": "2022Solar power Solar power Leashold (EUR)plantsplants under leaseimprovements TotalCarrying value 1 January 2022 1 470 610 4 755 529 312 119 6 538 257Additions - - 12 600 12 600Depreciation (113 958) (412 999) (35 919) (562 876)Carrying value 31 December 2022 1 356 652 4 342 529 288 800 5 987 9812021Solar power Solar power Leashold (EUR)plantsplants under leaseimprovements TotalCarrying value 1 January 2021 1 584 568 5 168 528 346 840 7 099 936Depreciation (113 958) (412 999) (34 722) (561 679)Carrying value 31 December 2021 1 470 610 4 755 529 312 119 6 538 257", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__102": { "value": "LeasingContracts that were Contracts identified as previously identified as Total obligationleases applying IFRS 16leases applying IAS 17 TotalENS Solar One 76 764 3 694 609 3 771 372Total obligation 31 December 2022 76 764 3 694 609 3 771 372Long term obligationAmount Amount TotalENS Solar One 72 612 3 267 924 3 340 536Total long term obligation 31 December 2022 72 612 3 267 924 3 340 536Short term obligationAmount Amount TotalENS Solar One 4 152 426 685 430 836Total short term obligation 31 December 2022 4 152 426 685 430 836The interest rate used for the recognition of contracts identified as leases applying IFRS 16 and contracts that were previously identified as leases applying IAS 17 is 4.92 per cent p.a., equal to the interest rate of the underlying agree-ments with the financial institution for obligations measured as of 31 December 2019. The contracts identified as leases applying IFRS 16 run to 2035. The contracts that were previously identified as leases applying IAS 17 run to 2030. The lease contracts recognized in applying IFRS 16 is the land rent and surface rights for ENS One, and the lease contracts that were previously identified as leases applying IAS 17 are leases of the solar power plants of ENS One. The \u201cRight Of Use\u201d is calculated as the same value as the lease obligation at the time of initial application.UNDISCOUNTED LEASE LIABILITIES AND MATURITY OF CASH OUTFLOWYear Amount2023 697 0002024 697 0002025 697 0002026 697 0002027 697 000After 2027 2 131 000Total undiscounted lease liabilities at 31 December 2022 5 616 000Contracts that were Contracts identified as previously identified as Summary of the lease liabilitiesleases applying IFRS 16leases applying IAS 17 TotalAt initial application 1 January 2022 80 915 4 099 749 4 180 664New lease liabilities recognised in the year - - -Cash payments lease (7 782) (608 466) (616 248)Interest expense on lease liabilities 3 630 203 325 206 955Disposal - - -Total lease liabilities at 31 December 2022 76 763 3 694 608 3 771 372The Company has chosen to apply the practical expedient laid out in IFRS 16 where there is no reassessment whether a contract is, or contains, a lease at the date of initial application. Instead IFRS 16 is applied to all contracts that were previously identified as leasing applying 17. Further, the Company has chosen to apply the modified retrospective approach in the new standard.", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__103-1": { "value": "NOTE 14 OTHER CONTRACTUAL OBLIGATIONSThe Group has the following contractual obligations not recognized in the balance sheet relating to operations and maintenance, and insurance for ENS 1 and ENFO 25 (All amounts are undiscounted).Year (EUR) Amount2023 97 0002024 97 0002025 97 0002026 97 0002027 97 000After 2027 405 000Total 890 000Equity contribution agreement and patronage letterIn conjunction with the \u201cP31 acquisition\u201d, EAM Solar Italy Holding Srl entered into a so-called patronage letter and an equity contribution agreement with UBI Leasing and UniCredit respectively. These agreements may under certain circumstances require EAM Solar Italy Holding Srl to inject additional equity into the debt financed SPVs to cover any shortfall or breach of the debt repayment obligations of the SPVs.The FIT contracts of the SPVs have been terminated by GSE due to fraud against the State of Italy.In November 2018 EAM Solar ASA was served with a notice that UBI Leasing had requested the Court of Brescia for an injunction of EUR 6 million on EAM assets. The court of Brescia granted a preliminary non-enforceable injunction.EAM challenged the injunction, and the first hearing was scheduled in May 2019. A summary hearing was held, and the case was postponed until November 2019. In December 2019 EAM was informed that the judge in the Civil Court of Brescia dismissed the petition by UBI Leasing to have a provi-sionally enforceable injunction against the Company.A further hearing was held in January 2020. In this hearing the judge enabled the parties to submit further briefs in the period until mid-April and the next hearing was set for May 2020. This hearing and filing of briefs were post-poned due to Covid-19.Briefs were filed in May and June 2020 and a hearing was held in September 2020. An order was issued in November 2020 where the Judge accepted EAM Solar ASA\u2019s request to examine witnesses. The first witness hearing in this matter was held 1 June 2021. The court set a second hearing to resume the examination of witnesses on 10 November 2021, but this hearing was postponed and held on 31 March 2022. A third witness hearing was held on 12 July 2022. On 10 November 2022 the Judge decided that UBI must submit certain documents on EAM\u2019s request. A hearing was conducted on 30 March 2023 where UBI submitted more documents. The next hearing is scheduled for December 2023.No provisions are made in the accounts on this matter.Receivable and payable against Aveleos S.A., its directors and its two shareholders Enovos Luxembourg S.A. and Avelar Energy Ltd.On 20 January 2021, the Criminal Appeal Court of Milan decided to revoke the first instance judgement of the Criminal Court of Milan. Consequently, Akhmerov and Giorgi were acquitted by the Court for all points of indictment related to fraud against the State of Italy and EAM Solar ASA, including the ruling to hold Aveleos financially liable for the acts conducted by Akhmerov and Giorgi.The Appeal Court\u2019s decision was a two-page notice identifying the decisions without presenting arguments or explanations for the revocation of the Criminal Court of Milan decision of April 2019. The arguments and evidence base for the decision by the Criminal Appeal Court was made available to the parties on 20 April 2021, 90 days from the date of the decision.Following the reception of the full judgement from the Milan Criminal Court of Appeal, EAM Solar ASA decided to join with the Prosecutor\u2019s Office in Milan in appealing to the Italian Supreme Court of Cassation. The appeal was submitted on 1 June 2021 to the Supreme Court of Cassation.EAM Solar ASA seeks to reinstate the convictions of Igor Akhmerov and Marco Giorgi for the crime of fraud against EAM.The appeal was based on several cases of misinterpretation of facts in the grounds for judgment by the Milan Criminal Court of Appeal.The Supreme Court of Italy held a hearing on 6 October 2021 on the appeal of the acquittal sentence decided by the Milan Criminal Court of Appeal issued 20 January 2021.On 7 October 2021, the Company was informed that the Supreme Court of Italy decided to annul the 20 January 2021 judgment of acquittal by the Milan Criminal Court of Appeal in the subsidy fraud case against the State of Italy and contractual fraud against EAM Solar ASA.Late November 2021 the Supreme Court issued its full decision for the annulment of the acquittal ruling. The short summary of the reason for the Supreme Court to annul the Milan Appeal Court acquittal decision in its entirety is that the Supreme Court found that the Milan Appeal Court did not fulfil its obligation to conduct a correct and comprehensive review of the factual evidence in the criminal case, resulting in an erroneous evaluation of the evidence with the effect that the acquittal decision was based on obvious inconsistent and illogical arguments.The Supreme Court is sending the criminal case back to a different chamber of the Milan Appeal Court for a new proceeding in the criminal case with the requirement that the new court proceedings must proceed with a complete review of the evidence, making correct application of the principles of law and the rules of logic as formulated in the Supreme Court decision.On the fraud of EAM, the Supreme Court concludes that the evidenced withholding of essential information during the contractual negotiations in itself constitute a contractual fraud.There has still not been a date set for any further appeals following the decision of the Italian court of Cassation.The Company estimates its claim to be in excess of EUR 300 million. The claim is a contingent asset that will not be recognised in the balance sheet.Based on the Share Purchase Agreement and the addendums, the Company is entitled to a payment from Aveleos due to the overpayment for ENS4 and the post-closing adjustments including interest. This amount has been confirmed by EY in a separate audit on the issue which later has been updated and reconfirmed by RSM.In addition, the company has recognised a loan of EUR 2.5 million given by Aveleos in 2014.EAM Solar Italy Holding Srl was on 10 December 2020 notified that Aveleos had filed a petition, without EAM\u2019s knowledge, to the Civil Court in Milano claiming payment of shareholder loans in the amount of EUR 12 683 721 under the Sale and Purchase Agreement of the P31 transaction.EAM Solar ASA and its subsidiary is of the opinion that such claim does not exist and have third party expert opinions supporting this fact. The fact is that Aveleos SA owes EAM Solar ASA money following the SPA due to the non-transfer of 10 power plants.EAM Solar Italy Holding Srl contested the decision in January 2021 and enrolled the case to Court. A hearing was expected to take place in June 2021 but ended up being scheduled for 7 September 2021. In the meantime, Aveleos adhered to our objection that an arbitration was already pending on the same issue, and accordingly decided to drop the case. This will bring the proceedings to an end.No provisions are made in the accounts on this matter.Litigation funding agreement with TheriumThe funding being received from Therium is a contribution to lower the legal costs incurred in pursuing the claim, and legal costs are reduced with the contribution from Therium, and any subsequent repayment to Therium is conditional on EAM receiving a claim award. Therefore, there is no liability to recognise a payment to Therium at this stage in the financial statements. EAM will recognise a claim award after having reimbursed Therium of their amount. Unused litigation funding at the end of the year was EUR 59 thou-sand. Therium has committed to invest a maximum amount of up to EUR 2.3 million. The agreement entitles Therium to receive the invested amount plus a contingency fee of 3X the committed funds under any incepted tranche of funding as a first priority payment from any litigation claim awarded to the Company.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__104": { "value": "NOTE 15 FINANCIAL RISK MANAGEMENTRegulatory riskThe largest risk to the Company\u2019s operations and profitability are regulatory risk relating to changes in agreements, taxation or operational regulations made by the State of Italy. This risk is difficult to hedge against apart from securing that operations at all times are incompliance with the prevailing rules and regulations.Financial riskThe Group has different financial instruments; a) trade and other receivables and trade accounts payable and b) leasing.Credit riskUnder normal circumstances the risk for losses is considered to be low, as the counterpart is the Italian state, but given the unpaid FIT amounts on ENFO 25, have the management at year end decided to make a provision and write down the receivable against GSE, see note 16. The Group has not made any offsets or other derivative agreements to reduce the credit risk in EAM.Interest-rate riskInterest rate risk is the risk that the fair value or future cash flows of a finan-cial instrument will fluctuate because of changes in market interest rates. The Group\u2019s exposure to the risk of changes in market interest rates relate primarily to the Group\u2019s debt with floating interest rates.Liquidity riskLiquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Groups approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Groups reputation. Surplus liquidity is primarily placed on a bank deposit account.Capital structure and equityThe primary focus of the Group\u2019s capital management is to ensure that it maintains an acceptable capital ratio in order to support its business opera-tions and the ongoing legal proceedings.The financial statement is prepared on the basis of going concern. It is the board\u2019s opinion that the Group has sufficient liquidity for the next twelve months.Risk associated with the economic situation in EuropeThroughout 2022 and so far in 2023 have markets in Europe been character-ised by surging energy prices, increasing interest rates and price increases in general. The Group has to very little extent been affected by this.With the Decree in Italy that has limited the market price dramatically has there been no windfall profit for the Group. And increase interest rates and prices in general does not impact the Group substantially given the limited external debt and low operating costs.The War in Ukraine and sanctions against RussiaThe war in Ukraine and the sanctions against Russia has had no direct impact on the Company\u2019s operations. The war has indirectly together with the sanctions further increased the power prices for renewable energy in 2022.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__107": { "value": "Credit riskUnder normal circumstances the risk for losses is considered to be low, as the counterpart is the Italian state, but given the unpaid FIT amounts on ENFO 25, have the management at year end decided to make a provision and write down the receivable against GSE, see note 16. The Group has not made any offsets or other derivative agreements to reduce the credit risk in EAM.", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__109": { "value": "Liquidity riskLiquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Groups approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Groups reputation. Surplus liquidity is primarily placed on a bank deposit account.", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__111": { "value": "Risk associated with the economic situation in EuropeThroughout 2022 and so far in 2023 have markets in Europe been character-ised by surging energy prices, increasing interest rates and price increases in general. The Group has to very little extent been affected by this.With the Decree in Italy that has limited the market price dramatically has there been no windfall profit for the Group. And increase interest rates and prices in general does not impact the Group substantially given the limited external debt and low operating costs.The War in Ukraine and sanctions against RussiaThe war in Ukraine and the sanctions against Russia has had no direct impact on the Company\u2019s operations. The war has indirectly together with the sanctions further increased the power prices for renewable energy in 2022.", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__114": { "value": "Trade and other receivables (EUR) 2022 2021Accounts receivables - 324Deferred revenue towards GSE 218 121 754 696Receivable from sale 305 017 3 062 910Other receivables 1 651 606 1 632 406Total trade and other receivables 2 174 744 5 450 336", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__113-1": { "value": "Trade and other receivables (EUR) 2022 2021Accounts receivables - 324Deferred revenue towards GSE 218 121 754 696Receivable from sale 305 017 3 062 910Other receivables 1 651 606 1 632 406Total trade and other receivables 2 174 744 5 450 336The receivable from sale is the receivable from the sale of EAM Solar Norway Holding AS, at year end 2022 EUR 305 thou-sand. The agreement between Energeia and EAM has a clause regulating onward sales, If Energeia AS sold the power plants in 2020, EAM Solar ASA is entitled to receive 75 per cent of any net capital gains realized by Energeia AS above the purchase price from EAM Solar ASA. The final determination of the total sales price including capital gain will be estab-lished at the end of the warranty period of the sale by Energeia AS in 2023. Please see note 7 for further information.Management has evaluated the situation of ENFO 25 and its net receivable position against GSE at year end, concluding that it is more likely than not, that the net receivable against GSE will not be collected. Based on this conclusion the trade receivable against GSE and the corresponding provision of payable is written down and the net amount recog-nised as an operating cost, write down of trade receivables. Revenues recognition and reporting of revenues for 2022 remains unchanged. Please see note 4 for further information.GSE normally has 60 days payment terms from receiving an invoice. In 2015, GSE introduced a 12-month delayed payment on 10 per cent of the expected annual revenues, thereby being paid in June the following year.Other receivables are mainly receivable on VAT for Italian subsidiaries that does not expire and can be utilised against other taxes or cashed out in the event the companies cease to exist.", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__118": { "value": "NOTE 17 CASH AND CASH EQUIVALENTS(EUR) 2022 2021Cash Norway 937 904 20 970Cash Italy 526 494 560 726Cash and cash equivalents 1 464 397 581 696Restricted cash Norway 294 851 -Restricted cash Italy 331 541 443 422Seized cash Italy 61 616 61 616The restricted cash in Norway of EUR 295 thousand is relating to the court case in Oslo District Court against Enovos and was set aside as collateral for the coverage of the legal costs. The restricted cash in Italy of EUR 332 thousand is the debt service reserve account of ENS Solar One Srl. The EUR 62 thousand of the seized cash is taken from companies not included in the in the first criminal proceedings.The Group had no undrawn credit facilities at 31 December 2022.", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__117": { "value": "NOTE 17 CASH AND CASH EQUIVALENTS(EUR) 2022 2021Cash Norway 937 904 20 970Cash Italy 526 494 560 726Cash and cash equivalents 1 464 397 581 696Restricted cash Norway 294 851 -Restricted cash Italy 331 541 443 422Seized cash Italy 61 616 61 616The restricted cash in Norway of EUR 295 thousand is relating to the court case in Oslo District Court against Enovos and was set aside as collateral for the coverage of the legal costs. The restricted cash in Italy of EUR 332 thousand is the debt service reserve account of ENS Solar One Srl. The EUR 62 thousand of the seized cash is taken from companies not included in the in the first criminal proceedings.The Group had no undrawn credit facilities at 31 December 2022.", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__120": { "value": "NOTE 18 SHARE CAPITAL, SHAREHOLDER INFORMATION AND DIVIDENDThe 20 main shareholders as at 31 December 2022 are:Shareholder Shares OwnershipSUNDT AS 1 054 580 15.4%CANICA AS 886 762 12.9%ENERGEIA AS 650 956 9.5%MP PENSJON PK 276 283 4.0%DNB LIVSFORSIKRING AS 269 086 3.9%PARK LANE FAMILY OFFICE AS 237 300 3.5%IMENES 234 017 3.4%NORDNET LIVSFORSIKRING AS 159 507 2.3%MELLEM NES INVEST AS 156 928 2.3%AKA AS 125 000 1.8%ALDEN AS 108 398 1.6%SKJ\u00c6VELAND 80 237 1.2%Nordnet Bank AB 66 301 1.0%BRUNSBICA AS 62 078 0.9%VIRO AS 61 156 0.9%KM FORVALTNING AS 60 000 0.9%JESEM AS 60 000 0.9%VERPENTANGEN AS 52 950 0.8%HAUSTKOLLHOLMEN AS 52 000 0.8%RO INVEST AS 50 000 0.7%Total of the 20 main shareholders 4 703 539 68.6%Share capital 1 Jan 2022 31 Dec 2022No of shares 6 852 210 6 852 210 Nominal value (NOK) 10 10 Share capital 68 522 100 68 522 100All the shares in the Company and shareholders have equal rights, including voting rights. Each share carries the right to one vote at the Company\u2019s general meeting.Share premium is the difference between nominal value of the Company\u2019s shares and the total amount the Company received for shares issued.Due to the financial situation of the Company the board of directors propose no dividend payments for 2022, although a dividend in kind was distributed during the year.", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__119": { "value": "NOTE 18 SHARE CAPITAL, SHAREHOLDER INFORMATION AND DIVIDENDThe 20 main shareholders as at 31 December 2022 are:Shareholder Shares OwnershipSUNDT AS 1 054 580 15.4%CANICA AS 886 762 12.9%ENERGEIA AS 650 956 9.5%MP PENSJON PK 276 283 4.0%DNB LIVSFORSIKRING AS 269 086 3.9%PARK LANE FAMILY OFFICE AS 237 300 3.5%IMENES 234 017 3.4%NORDNET LIVSFORSIKRING AS 159 507 2.3%MELLEM NES INVEST AS 156 928 2.3%AKA AS 125 000 1.8%ALDEN AS 108 398 1.6%SKJ\u00c6VELAND 80 237 1.2%Nordnet Bank AB 66 301 1.0%BRUNSBICA AS 62 078 0.9%VIRO AS 61 156 0.9%KM FORVALTNING AS 60 000 0.9%JESEM AS 60 000 0.9%VERPENTANGEN AS 52 950 0.8%HAUSTKOLLHOLMEN AS 52 000 0.8%RO INVEST AS 50 000 0.7%Total of the 20 main shareholders 4 703 539 68.6%Share capital 1 Jan 2022 31 Dec 2022No of shares 6 852 210 6 852 210 Nominal value (NOK) 10 10 Share capital 68 522 100 68 522 100All the shares in the Company and shareholders have equal rights, including voting rights. Each share carries the right to one vote at the Company\u2019s general meeting.Share premium is the difference between nominal value of the Company\u2019s shares and the total amount the Company received for shares issued.Due to the financial situation of the Company the board of directors propose no dividend payments for 2022, although a dividend in kind was distributed during the year.", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__122": { "value": "NOTE 19 DEBTEUR 2022 2021Other non current liabilities 343 887 343 887Obligations under finance leases 3 340 536 3 771 567Deferred tax 804 250 743 424Total non-current liabilities 4 488 674 4 858 878Trade payables 627 466 1 077 444Payables to GSE 756 355 -Other payables 480 681 523 354Social security - 7 860Taxes other than income taxes 6 677 6 677Accrued liabilities 2 511 4 661Trade and other payables 1 873 690 1 619 996Current leasing 430 836 409 097Related to ordinary operations 2 304 526 2 029 093Total current liabilities 2 304 526 2 029 093Total liabilities 6 793 200 6 887 971Payables to GSEOn 29 March 2022, Law no. 25 (Sostegni ter Decree) entered into force. The Decree is initially intended to apply from February 2022 to the end of the year. Following the Decree, the achieved market price of electricity has been limited to EUR 56 per MWh for the Company\u2019s power plants in the South of Italy. Relevant provisions are made but not yet paid as the Company is awaiting final decision in the Italian judicial system on the lawfulness of the Decree.Equity contribution agreement and patronage letterIn conjunction with the \u201cP31 acquisition\u201d, EAM Solar Italy Holding Srl entered into a so-called patronage letter and an equity contribution agreement with UBI Leasing and UniCredit respectively. These agreements may under certain circumstances require EAM Solar Italy Holding Srl to inject additional equity into the debt financed SPVs to cover any shortfall or breach of the debt repayment obligations of the SPVs.The FIT contracts of the SPVs have been terminated by GSE due to fraud against the State of Italy.In November 2018 EAM Solar ASA was served with a notice that UBI Leasing had requested the Court of Brescia for an injunction of EUR 6 million on EAM assets. The court of Brescia granted a preliminary non-enforceable injunction.EAM challenged the injunction, and the first hearing was scheduled in May 2019. A summary hearing was held, and the case was postponed until November 2019. In December 2019 EAM was informed that the judge in the Civil Court of Brescia dismissed the petition by UBI Leasing to have a provi-sionally enforceable injunction against the Company.A further hearing was held in January 2020. In this hearing the judge enabled the parties to submit further briefs in the period until mid-April and the next hearing was set for May 2020. This hearing and filing of briefs were post-poned due to Covid-19.Briefs were filed in May and June 2020 and a hearing was held in September 2020. An order was issued in November 2020 where the Judge accepted EAM Solar ASA\u2019s request to examine witnesses. The first witness hearing in this matter was held 1 June 2021. The court set a second hearing to resume the examination of witnesses on 10 November 2021, but this hearing was postponed and held on 31 March 2022. A third witness hearing was held on 12 July 2022. On 10 November 2022 the Judge decided that UBI must submit certain documents on EAM\u2019s request. A hearing was conducted on 30 March 2023 where UBI submitted more documents. The next hearing is scheduled for December 2023.No provisions are made in the accounts on this matter.Receivable and payable against Aveleos S.A., its directors and its two shareholders Enovos Luxembourg S.A. and Avelar Energy Ltd.On 20 January 2021, the Criminal Appeal Court of Milan decided to revoke the first instance judgement of the Criminal Court of Milan. Consequently, Akhmerov and Giorgi were acquitted by the Court for all points of indictment related to fraud against the State of Italy and EAM Solar ASA, including the ruling to hold Aveleos financially liable for the acts conducted by Akhmerov and Giorgi.The Appeal Court\u2019s decision was a two-page notice identifying the decisions without presenting arguments or explanations for the revocation of the Criminal Court of Milan decision of April 2019. The arguments and evidence base for the decision by the Criminal Appeal Court was made available to the parties on 20 April 2021, 90 days from the date of the decision.Following the reception of the full judgement from the Milan Criminal Court of Appeal, EAM Solar ASA decided to join with the Prosecutor\u2019s Office in Milan in appealing to the Italian Supreme Court of Cassation. The appeal was submitted on 1 June 2021 to the Supreme Court of Cassation.EAM Solar ASA seeks to reinstate the convictions of Igor Akhmerov and Marco Giorgi for the crime of fraud against EAM.The appeal was based on several cases of misinterpretation of facts in the grounds for judgment by the Milan Criminal Court of Appeal.The Supreme Court of Italy held a hearing on 6 October 2021 on the appeal of the acquittal sentence decided by the Milan Criminal Court of Appeal issued 20 January 2021.On 7 October 2021, the Company was informed that the Supreme Court of Italy decided to annul the 20 January 2021 judgment of acquittal by the Milan Criminal Court of Appeal in the subsidy fraud case against the State of Italy and contractual fraud against EAM Solar ASA.Late November 2021 the Supreme Court issued its full decision for the annulment of the acquittal ruling. The short summary of the reason for the Supreme Court to annul the Milan Appeal Court acquittal decision in its entirety is that the Supreme Court found that the Milan Appeal Court did not fulfil its obligation to conduct a correct and comprehensive review of the factual evidence in the criminal case, resulting in an erroneous evaluation of the evidence with the effect that the acquittal decision was based on obvious inconsistent and illogical arguments.The Supreme Court is sending the criminal case back to a different chamber of the Milan Appeal Court for a new proceeding in the criminal case with the requirement that the new court proceedings must proceed with a complete review of the evidence, making correct application of the principles of law and the rules of logic as formulated in the Supreme Court decision.On the fraud of EAM, the Supreme Court concludes that the evidenced withholding of essential information during the contractual negotiations in itself constitute a contractual fraud.There has still not been a date set for any further appeals following the decision of the Italian court of Cassation.The Company estimates its claim to be in excess of EUR 300 million. The claim is a contingent asset that will not be recognised in the balance sheet.Based on the Share Purchase Agreement and the addendums, the Company is entitled to a payment from Aveleos due to the overpayment for ENS4 and the post-closing adjustments including interest. This amount has been confirmed by EY in a separate audit on the issue which later has been updated and reconfirmed by RSM.In addition, the company has recognised a loan of EUR 2.5 million given by Aveleos in 2014.EAM Solar Italy Holding Srl was on 10 December 2020 notified that Aveleos had filed a petition, without EAM\u2019s knowledge, to the Civil Court in Milano claiming payment of shareholder loans in the amount of EUR 12 683 721 under the Sale and Purchase Agreement of the P31 transaction.EAM Solar ASA and its subsidiary is of the opinion that such claim does not exist and have third party expert opinions supporting this fact. The fact is that Aveleos SA owes EAM Solar ASA money following the SPA due to the non-transfer of 10 power plants.EAM Solar Italy Holding Srl contested the decision in January 2021 and enrolled the case to Court. A hearing was expected to take place in June 2021 but ended up being scheduled for 7 September 2021. In the meantime, Aveleos adhered to our objection that an arbitration was already pending on the same issue, and accordingly decided to drop the case. This will bring the proceedings to an end.No provisions are made in the accounts on this matter.Litigation funding agreement with TheriumThe funding being received from Therium is a contribution to lower the legal costs incurred in pursuing the claim, and legal costs are reduced with the contribution from Therium, and any subsequent repayment to Therium is conditional on EAM receiving a claim award. Therefore, there is no liability to recognise a payment to Therium at this stage in the financial statements. EAM will recognise a claim award after having reimbursed Therium of their amount. Unused litigation funding at the end of the year was EUR 59 thou-sand. Therium has committed to invest a maximum amount of up to EUR 2.3 million. The agreement entitles Therium to receive the invested amount plus a contingency fee of 3X the committed funds under any incepted tranche of funding as a first priority payment from any litigation claim awarded to the Company.", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__121": { "value": "NOTE 19 DEBTEUR 2022 2021Other non current liabilities 343 887 343 887Obligations under finance leases 3 340 536 3 771 567Deferred tax 804 250 743 424Total non-current liabilities 4 488 674 4 858 878Trade payables 627 466 1 077 444Payables to GSE 756 355 -Other payables 480 681 523 354Social security - 7 860Taxes other than income taxes 6 677 6 677Accrued liabilities 2 511 4 661Trade and other payables 1 873 690 1 619 996Current leasing 430 836 409 097Related to ordinary operations 2 304 526 2 029 093Total current liabilities 2 304 526 2 029 093Total liabilities 6 793 200 6 887 971Payables to GSEOn 29 March 2022, Law no. 25 (Sostegni ter Decree) entered into force. The Decree is initially intended to apply from February 2022 to the end of the year. Following the Decree, the achieved market price of electricity has been limited to EUR 56 per MWh for the Company\u2019s power plants in the South of Italy. Relevant provisions are made but not yet paid as the Company is awaiting final decision in the Italian judicial system on the lawfulness of the Decree.Equity contribution agreement and patronage letterIn conjunction with the \u201cP31 acquisition\u201d, EAM Solar Italy Holding Srl entered into a so-called patronage letter and an equity contribution agreement with UBI Leasing and UniCredit respectively. These agreements may under certain circumstances require EAM Solar Italy Holding Srl to inject additional equity into the debt financed SPVs to cover any shortfall or breach of the debt repayment obligations of the SPVs.The FIT contracts of the SPVs have been terminated by GSE due to fraud against the State of Italy.In November 2018 EAM Solar ASA was served with a notice that UBI Leasing had requested the Court of Brescia for an injunction of EUR 6 million on EAM assets. The court of Brescia granted a preliminary non-enforceable injunction.EAM challenged the injunction, and the first hearing was scheduled in May 2019. A summary hearing was held, and the case was postponed until November 2019. In December 2019 EAM was informed that the judge in the Civil Court of Brescia dismissed the petition by UBI Leasing to have a provi-sionally enforceable injunction against the Company.A further hearing was held in January 2020. In this hearing the judge enabled the parties to submit further briefs in the period until mid-April and the next hearing was set for May 2020. This hearing and filing of briefs were post-poned due to Covid-19.Briefs were filed in May and June 2020 and a hearing was held in September 2020. An order was issued in November 2020 where the Judge accepted EAM Solar ASA\u2019s request to examine witnesses. The first witness hearing in this matter was held 1 June 2021. The court set a second hearing to resume the examination of witnesses on 10 November 2021, but this hearing was postponed and held on 31 March 2022. A third witness hearing was held on 12 July 2022. On 10 November 2022 the Judge decided that UBI must submit certain documents on EAM\u2019s request. A hearing was conducted on 30 March 2023 where UBI submitted more documents. The next hearing is scheduled for December 2023.No provisions are made in the accounts on this matter.Receivable and payable against Aveleos S.A., its directors and its two shareholders Enovos Luxembourg S.A. and Avelar Energy Ltd.On 20 January 2021, the Criminal Appeal Court of Milan decided to revoke the first instance judgement of the Criminal Court of Milan. Consequently, Akhmerov and Giorgi were acquitted by the Court for all points of indictment related to fraud against the State of Italy and EAM Solar ASA, including the ruling to hold Aveleos financially liable for the acts conducted by Akhmerov and Giorgi.The Appeal Court\u2019s decision was a two-page notice identifying the decisions without presenting arguments or explanations for the revocation of the Criminal Court of Milan decision of April 2019. The arguments and evidence base for the decision by the Criminal Appeal Court was made available to the parties on 20 April 2021, 90 days from the date of the decision.Following the reception of the full judgement from the Milan Criminal Court of Appeal, EAM Solar ASA decided to join with the Prosecutor\u2019s Office in Milan in appealing to the Italian Supreme Court of Cassation. The appeal was submitted on 1 June 2021 to the Supreme Court of Cassation.EAM Solar ASA seeks to reinstate the convictions of Igor Akhmerov and Marco Giorgi for the crime of fraud against EAM.The appeal was based on several cases of misinterpretation of facts in the grounds for judgment by the Milan Criminal Court of Appeal.The Supreme Court of Italy held a hearing on 6 October 2021 on the appeal of the acquittal sentence decided by the Milan Criminal Court of Appeal issued 20 January 2021.On 7 October 2021, the Company was informed that the Supreme Court of Italy decided to annul the 20 January 2021 judgment of acquittal by the Milan Criminal Court of Appeal in the subsidy fraud case against the State of Italy and contractual fraud against EAM Solar ASA.Late November 2021 the Supreme Court issued its full decision for the annulment of the acquittal ruling. The short summary of the reason for the Supreme Court to annul the Milan Appeal Court acquittal decision in its entirety is that the Supreme Court found that the Milan Appeal Court did not fulfil its obligation to conduct a correct and comprehensive review of the factual evidence in the criminal case, resulting in an erroneous evaluation of the evidence with the effect that the acquittal decision was based on obvious inconsistent and illogical arguments.The Supreme Court is sending the criminal case back to a different chamber of the Milan Appeal Court for a new proceeding in the criminal case with the requirement that the new court proceedings must proceed with a complete review of the evidence, making correct application of the principles of law and the rules of logic as formulated in the Supreme Court decision.On the fraud of EAM, the Supreme Court concludes that the evidenced withholding of essential information during the contractual negotiations in itself constitute a contractual fraud.There has still not been a date set for any further appeals following the decision of the Italian court of Cassation.The Company estimates its claim to be in excess of EUR 300 million. The claim is a contingent asset that will not be recognised in the balance sheet.Based on the Share Purchase Agreement and the addendums, the Company is entitled to a payment from Aveleos due to the overpayment for ENS4 and the post-closing adjustments including interest. This amount has been confirmed by EY in a separate audit on the issue which later has been updated and reconfirmed by RSM.In addition, the company has recognised a loan of EUR 2.5 million given by Aveleos in 2014.EAM Solar Italy Holding Srl was on 10 December 2020 notified that Aveleos had filed a petition, without EAM\u2019s knowledge, to the Civil Court in Milano claiming payment of shareholder loans in the amount of EUR 12 683 721 under the Sale and Purchase Agreement of the P31 transaction.EAM Solar ASA and its subsidiary is of the opinion that such claim does not exist and have third party expert opinions supporting this fact. The fact is that Aveleos SA owes EAM Solar ASA money following the SPA due to the non-transfer of 10 power plants.EAM Solar Italy Holding Srl contested the decision in January 2021 and enrolled the case to Court. A hearing was expected to take place in June 2021 but ended up being scheduled for 7 September 2021. In the meantime, Aveleos adhered to our objection that an arbitration was already pending on the same issue, and accordingly decided to drop the case. This will bring the proceedings to an end.No provisions are made in the accounts on this matter.Litigation funding agreement with TheriumThe funding being received from Therium is a contribution to lower the legal costs incurred in pursuing the claim, and legal costs are reduced with the contribution from Therium, and any subsequent repayment to Therium is conditional on EAM receiving a claim award. Therefore, there is no liability to recognise a payment to Therium at this stage in the financial statements. EAM will recognise a claim award after having reimbursed Therium of their amount. Unused litigation funding at the end of the year was EUR 59 thou-sand. Therium has committed to invest a maximum amount of up to EUR 2.3 million. The agreement entitles Therium to receive the invested amount plus a contingency fee of 3X the committed funds under any incepted tranche of funding as a first priority payment from any litigation claim awarded to the Company.", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__123": { "value": "EUR 2022 2021Other non current liabilities 343 887 343 887Obligations under finance leases 3 340 536 3 771 567Deferred tax 804 250 743 424Total non-current liabilities 4 488 674 4 858 878Trade payables 627 466 1 077 444Payables to GSE 756 355 -Other payables 480 681 523 354Social security - 7 860Taxes other than income taxes 6 677 6 677Accrued liabilities 2 511 4 661Trade and other payables 1 873 690 1 619 996Current leasing 430 836 409 097Related to ordinary operations 2 304 526 2 029 093Total current liabilities 2 304 526 2 029 093Total liabilities 6 793 200 6 887 971Payables to GSEOn 29 March 2022, Law no. 25 (Sostegni ter Decree) entered into force. The Decree is initially intended to apply from February 2022 to the end of the year. Following the Decree, the achieved market price of electricity has been limited to EUR 56 per MWh for the Company\u2019s power plants in the South of Italy. Relevant provisions are made but not yet paid as the Company is awaiting final decision in the Italian judicial system on the lawfulness of the Decree.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__124": { "value": "EUR 2022 2021Other non current liabilities 343 887 343 887Obligations under finance leases 3 340 536 3 771 567Deferred tax 804 250 743 424Total non-current liabilities 4 488 674 4 858 878Trade payables 627 466 1 077 444Payables to GSE 756 355 -Other payables 480 681 523 354Social security - 7 860Taxes other than income taxes 6 677 6 677Accrued liabilities 2 511 4 661Trade and other payables 1 873 690 1 619 996Current leasing 430 836 409 097Related to ordinary operations 2 304 526 2 029 093Total current liabilities 2 304 526 2 029 093Total liabilities 6 793 200 6 887 971Payables to GSEOn 29 March 2022, Law no. 25 (Sostegni ter Decree) entered into force. The Decree is initially intended to apply from February 2022 to the end of the year. Following the Decree, the achieved market price of electricity has been limited to EUR 56 per MWh for the Company\u2019s power plants in the South of Italy. Relevant provisions are made but not yet paid as the Company is awaiting final decision in the Italian judicial system on the lawfulness of the Decree.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__125": { "value": "EUR 2022 2021Other non current liabilities 343 887 343 887Obligations under finance leases 3 340 536 3 771 567Deferred tax 804 250 743 424Total non-current liabilities 4 488 674 4 858 878Trade payables 627 466 1 077 444Payables to GSE 756 355 -Other payables 480 681 523 354Social security - 7 860Taxes other than income taxes 6 677 6 677Accrued liabilities 2 511 4 661Trade and other payables 1 873 690 1 619 996Current leasing 430 836 409 097Related to ordinary operations 2 304 526 2 029 093Total current liabilities 2 304 526 2 029 093Total liabilities 6 793 200 6 887 971Payables to GSEOn 29 March 2022, Law no. 25 (Sostegni ter Decree) entered into force. The Decree is initially intended to apply from February 2022 to the end of the year. Following the Decree, the achieved market price of electricity has been limited to EUR 56 per MWh for the Company\u2019s power plants in the South of Italy. Relevant provisions are made but not yet paid as the Company is awaiting final decision in the Italian judicial system on the lawfulness of the Decree.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__126": { "value": "EUR 2022 2021Other non current liabilities 343 887 343 887Obligations under finance leases 3 340 536 3 771 567Deferred tax 804 250 743 424Total non-current liabilities 4 488 674 4 858 878Trade payables 627 466 1 077 444Payables to GSE 756 355 -Other payables 480 681 523 354Social security - 7 860Taxes other than income taxes 6 677 6 677Accrued liabilities 2 511 4 661Trade and other payables 1 873 690 1 619 996Current leasing 430 836 409 097Related to ordinary operations 2 304 526 2 029 093Total current liabilities 2 304 526 2 029 093Total liabilities 6 793 200 6 887 971Payables to GSEOn 29 March 2022, Law no. 25 (Sostegni ter Decree) entered into force. The Decree is initially intended to apply from February 2022 to the end of the year. Following the Decree, the achieved market price of electricity has been limited to EUR 56 per MWh for the Company\u2019s power plants in the South of Italy. Relevant provisions are made but not yet paid as the Company is awaiting final decision in the Italian judicial system on the lawfulness of the Decree.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__127": { "value": "EUR 2022 2021Other non current liabilities 343 887 343 887Obligations under finance leases 3 340 536 3 771 567Deferred tax 804 250 743 424Total non-current liabilities 4 488 674 4 858 878Trade payables 627 466 1 077 444Payables to GSE 756 355 -Other payables 480 681 523 354Social security - 7 860Taxes other than income taxes 6 677 6 677Accrued liabilities 2 511 4 661Trade and other payables 1 873 690 1 619 996Current leasing 430 836 409 097Related to ordinary operations 2 304 526 2 029 093Total current liabilities 2 304 526 2 029 093Total liabilities 6 793 200 6 887 971Payables to GSEOn 29 March 2022, Law no. 25 (Sostegni ter Decree) entered into force. The Decree is initially intended to apply from February 2022 to the end of the year. Following the Decree, the achieved market price of electricity has been limited to EUR 56 per MWh for the Company\u2019s power plants in the South of Italy. Relevant provisions are made but not yet paid as the Company is awaiting final decision in the Italian judicial system on the lawfulness of the Decree.", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__132": { "value": "NOTE 21 INTANGIBLE ASSETS2022 Intangible assetsCarrying value 1 January 2022 9 801Additions -Write downs -Depreciation (700)Disposals -Currency translation effect -Carrying value 31 December 2022 9 1012021 Intangible assetsCarrying value 1 January 2021 10 501Additions -Write downs -Depreciation (700)Disposals -Currency translation effect -Carrying value 31 December 2021 9 801Intangible assets are depreciated linear over the lifetime of the FIT contracts. The FIT contract period is running to 2031.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__131": { "value": "NOTE 21 INTANGIBLE ASSETS2022 Intangible assetsCarrying value 1 January 2022 9 801Additions -Write downs -Depreciation (700)Disposals -Currency translation effect -Carrying value 31 December 2022 9 1012021 Intangible assetsCarrying value 1 January 2021 10 501Additions -Write downs -Depreciation (700)Disposals -Currency translation effect -Carrying value 31 December 2021 9 801Intangible assets are depreciated linear over the lifetime of the FIT contracts. The FIT contract period is running to 2031.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__7__133": { "value": "NOTE 22 EVENTS AFTER THE BALANCE SHEET DATEResignation of Chair of the Board of Directors, Mrs Ragnhild WiborgOn 31 January 2023 the Company announced the resignation of the Chair of the Board of Directors, Mrs Ragnhild Wiborg. The resignation comes as consequence of her assuming the role as Chair of the Board of Directors in Energeia AS, the manager of the Company.Mrs Wiborg has served on the Board of Directors of EAM Solar ASA for almost 10 years since May 2013, and has carried the responsibility of leading the Board since December 2014. EAM Solar ASA shareholders and its management are very grateful for the unwavering and the steady hand by which Mrs Wiborg has led the Company in trying times.For a period of time there has been no chairperson on the board of directors and the company has only had two board members (which is not in accordance with the articles of association nor the Public Limited Liability Companies Act), however the Election Committee has already started to search for a new candidate for the Board of Directors in the Company. A new board setup, as proposed by the election committee, will be included in the notice to the annual general meeting. The date for the AGM is 22 May 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXIPFC54", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } } } }