b'Power &Sustainable Energy The directorate of Power & Sustainable Energy was established in 2019, reflectingtheadditionofhydro-electricpowergenerationtoourthermalgenerating capabilities. By instating this new directorate, Staatsolie has institutionalized its focus on gradual transition to a low carbon enterprise. Our subsidiary Staatsolie Power Company Suriname (SPCS) operates a thermal power plant and, as of 2020, a hydro-electric facility. Together, they supply 75% of Surinames electricity demand.Additionally, the thermalplant provides a secure source of power and process steam forStaatsoliesrefinery.Despite the effects of the COVID-19FOCUS ONpandemic, we achieved a smooth integration THE FUTURE: of hydro-electric operations into SPCS in 2020. This is not to say that there were not challenges A Powerful Addition to overcome. The pandemic occasioned brief partial and total lockdowns, and dedicated SPCS staff moved into the facility full time and worked in shifts to perform mandatory In 2019, the Government of Surinamemaintenance and ensure continuous operations negotiated to acquire the Afobaka forafixedperiod.Themotivationofourpeoplehydro-electric facility, including a massive inadifficulttimewasinspirational.Thankstodam on the Suriname River built by Alcoa their efforts, the hydro-electric facility was able in the 1960s. Because Staatsolie had theto generate 800,000 MWh of power with zero necessary management systems andblackouts and zero lost workdays. Aside from capabilities to handle its operations, the the pandemic, challenges included addressing facility was placed within SPCS, at no cost. issues with ongoing (illegal) gold mining,On January 1, 2020, SPCS assumed wood logging and other encroachments onoperation of the 189 MW facility. the plants property.26'