Cloudberry's wind farm offer accepted

In: Windfarms
11/09/2020
Cloudberry Clean Energy AS 's offer to the shareholders in Scanvind2 AS, the holding company of the offshore wind project Rewind Vänern, has been accepted.

The settlement of shares in Scanvind2 AS will be a combination of the reversal of the ScanVind2's sales credit to Cloudberry, an issuance of about 2.2 million Cloudberry shares at NOK 12.5 per share and a cash payment of NOK 7 million. The transaction is expected to be complete by 26th September 2020.

The 16-turbine project is located in shallow water on the largest lake in Sweden, near to Cloudberry's Karlstad office, and will have an overall capacity of 100 MW. Construction start is anticipated in 2021/2022.

"We know the Rewind Vänern-project well from our participation in the initial project team and will leverage our experience as project owner. We have already established dialogues with strong operational and financial partners which are as motivated as us for delivering efficient project development and sound value-creation",
said Anders Lenborg, Chief Executive Officer of Cloudberry.

"This transaction is an important new step towards fulfilling Cloudberry's growth ambitions within offshore wind power and reflects our long-term strategy of being a substantial developer of renewable energy projects in the Nordics.


"Offshore wind power in the Baltic Sea has a large potential. Cloudberry has the know-how and experience to efficiently develop such projects. We have identified several potential offshore projects as part of our ambition to develop 2,500 MW offshore wind power in Sweden by 2030. This will represent an important contribution to the necessary European energy transition."


Cloudberry Clean Energy AS is a Nordic renewable energy company. The company owns, develops and operates hydro power plants and wind farms in Norway and Sweden.  


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