Oslo, Norway, 28 April 2022: Cloudberry Clean Energy ASA ("Cloudberry" or the
"Company") current portfolio of power producing assets and secured assets under
construction consists of 26 hydropower and 3 wind power assets, with a total
capacity of 150 MW (61 MW is currently in production and the remaining 89 MW
under construction). The group also owns 100% of four additional construction
permits, which if completed will grow the total portfolio to 368 MW.
The Company is pleased to announce the following update related to certain of
its key activities:
· All 34 turbines have been erected and as of today, 11 turbines are
· It is expected that all turbines will be energized within the deadline for
energization, which is 30 June 2022.
· Due to strong wind during the winter of 2021/2022 and certain delays from
project suppliers, extra resources have been utilized to meet the energization
deadline. Consequently, the capex budget has increased slightly (under <5% of
· Civil works has commenced and the foundations for all the 5 turbines have
· The project is currently progressing according to plan, and it is expected
that the wind farm will be completed by year end 2022.
Ramsliåna & Skåråna
· Ramsliåna hydropower plant is completed and in production 31 March 2022.
· Construction and hand-over is completed at Skåråna and we expect Skåråna to
produce revenue by end of Q2 22.
· Final procurement is on-going and progressing according to plan.
· Secured option to purchase Munkhyttan II (additional 18 MW) at same terms
· Cloudberry is currently optimizing the project (20 - 40 MW) and finalizing
the final development and procurement process (i.e. turbine negotiations).
· The project is planned to be completed by the end of 2023.
· The grid owner, Vattenfall, has completed an environmental impact assessment
and filed for an increased power grid capacity permit to match the construction
permit to Elmarknadsinspektionen.
· Construction is expected to commence following receipt of increased power
grid capacity permit, which is expected during 2022.
· Cloudberry's offshore team is working closely with the project team from the
Dutch company, Ventolines to optimize the project and further reduce risk before
making the final investment decision, which is expected to be made in 2022.
· Commercial operation is targeted by year end 2024.
· In January Cloudberry closed the Captiva transaction. The transaction has
been well received by both organizations and the parties have already initiated
several development initiatives within Nordic wind and hydro.
So far in 2022, 100% of Cloudberry's power production has been exposed to spot
As a result of inter alia activities related to the implementation of the
Captiva Group, the ongoing work with the listing prospectus related to the
private placements resolved in December and in relation to the acquisition of
the Captiva Group and the onboarding of the new board members selected by the
AGM today, the Company has resolved to postpone the publication of the interim
report for Q1 2022 until 7 June 2022. This is disclosed separately in the
Company's updated financial calendar.
For further information, please contact:
Anders Lenborg, CEO, +47 934 13 130, firstname.lastname@example.org
Christian Helland, CVO, +47 418 80 000, email@example.com
This information is subject to the disclosure requirements pursuant to Section 5
-12 of the Norwegian Securities Trading Act. This stock exchange announcement
was published by Andreas Thon Aasheim, CCO at Cloudberry Clean Energy ASA on 28
April 2022, at 17:30 CEST.
Cloudberry is a renewable energy company operating in the Nordics and in
accordance with local traditions. The Company owns, develops, and operates
hydropower plants and wind farms in Norway and Sweden. Cloudberry is powering
the energy transition to a sustainable future by providing new renewable energy
today and for future generations. The Company believes in a fundamental long
term demand for renewable energy in Europe. With this as a fundament, Cloudberry
is building a sustainable, scalable, efficient, and profitable platform for
creation of shareholder value. Cloudberry`s shares are traded on Oslo Stock
Exchange's main list (Oslo Børs), supported by strong owners and led by an
experienced team and board. The Company has offices in Oslo, Norway (main
office) Karlstad and Gothenburg, Sweden. To learn more about Cloudberry, go to