<p>EU Taxonomy Eligibility Assessment 2021</p>
Virya’s activities are centered around scaling new technologies across the entire energy ecosystem, enabling a faster transition to sustainable energy sources. Although Virya is not yet in scope of the EU Taxonomy Regulation, Virya chooses to report on EU Taxonomy-eligibility for the objectives climate change mitigation and climate change adaptation on a voluntary basis, as we strongly believe in the opportunity to communicate objectively on the sustainable nature of our activities.
Activities |
Turnover (%) |
CAPEX (%) |
OPEX (%) |
|---|---|---|---|
Eligible core activities |
97.15 |
98.66 |
99.33 |
Electricity generation from wind power (4.3) |
91.96 |
93.71 |
95.43 |
Electricity generation from hydropower (4.5) |
0.41 |
1.37 |
n/a |
Installation, maintenance and repair of renewable energy technologies (7.6) |
0.02 |
n/a |
n/a |
Manufacture of hydrogen (3.10) |
0 |
0.01 |
0.20 |
Storage of hydrogen (4.12) |
n/a |
0.01 |
0.06 |
Sea coastal freight water transport (6.10) |
4.71 |
3.16 |
2.92 |
Manufacture of low carbon technologies for transport (3.3) |
0.03 |
0.01 |
n/a |
Urban and suburban transport, road passenger transport (6.3) |
n/a |
0.40 |
0.72 |
Non-eligible activities |
2.85 |
1.34 |
0.67 |
Disclaimer
Although Virya is not yet in scope of the EU Taxonomy Regulation, Virya chooses to report on EU Taxonomy-eligibility on a voluntary basis. Applied accounting policies and EU Taxonomy-eligibility results are based on Virya’s best interpretation of the EU Taxonomy Regulation and Delegated Acts. ©2022 Content may not be reproduced, copied, displayed, or published in any form without written permission of Virya Energy.
Turnover
In FY2021 97.15% of Virya’s revenue is linked to eligible activities. Virya’s high eligibility percentage is largely driven by the activity electricity generation from wind power (4.3). The sales of renewable wind energy constitutes 90.96% of the total eligible turnover. The activity sea coastal freight water transport (6.10) generates 4.71% of the eligible revenue. This revenue is linked to offshore employee transport services via crew transfer vessels (CTVs) and offshore surveying services such as hydrographic, geophysical, geotechnical, topographical surveys and site investigations for energy sector clients. The remaining activities do not significantly drive Virya’s eligibility adding only a combined 0.48% of eligible revenue to the total eligible revenue. The identified eligible revenue relates to the sales of renewable hydropower (4.5), the sales of autonomous drones (3.3), and the sales of software applications servicing windfarms (7.6). Of non-eligible revenues 2.80% are related to holding, management and administrative activities.
CAPEX
In FY2021 98.66% of the total CAPEX is EU Taxonomy-eligible. Virya continues to expand its activities in onshore and offshore wind, this is reflected by the large contribution of 93.71% eligible CAPEX stemming from the development and construction of wind farms (4.3). The remaining 4.95% eligible CAPEX is related to the development of hydrogen facilities (3.10) and a hydrogen bunkering facility (4.12), the vessel fleet (6.10), autonomous drone development (3.3), and Virya’s car fleet (6.3). 1.34% of non-eligible CAPEX relates mostly to items such as cell phones, laptops and, office furniture which cannot be allocated to an eligible activity
OPEX
In FY2021 the share of EU Taxonomy-eligible OPEX for amounts to 99.3%. 95.4% of total eligible OPEX is associated to the activity electricity generation from wind power (4.3). Eligible OPEX relates mostly to maintenance and repair of operational wind farms and IT maintenance of internally developed software applications. Moreover, eligible OPEX includes day-to-day costs servicing assets and research and development costs related to wind energy. Daily maintenance of vessels performing offshore surveying activities and crew transfers (6.10) contributes 3.04% to the total eligible OPEX. Other eligible activities do not represent a significant portion of OPEX contributing in total 0.98% to the total eligible OPEX. Operational expenditures relate to research and development activities for hydrogen projects (3.10) and hydrogen bunkering facility (4.12), and short-term leases of cars (6.3). 0.7% of non-eligible OPEX relates mostly to short-term leases of office buildings directly linked to operational parks.
Accounting policies, estimates & assumptions
Please download our 2021 EU Taxonomy report for more information.
Virya Energy EU Taxonomy Eligibility Assessment 2021
Download the full report