Cloudberry Clean energy ASA announced that it has entered into a three-year power purchase agreement in Denmark in relation to the Odin portfolio with a leading Nordic counterpart. The contract locks in DKK 73 million (NOK 116 million) in proportionate revenue over a three-year period. The PPA is a three-year monthly baseload contract for a fixed annual volume of 31.5 GWh in DK-1 with a fixed power price of DKK 0.77/kWh (NOK 1.22 per kWh).

The contract will cover about 4% of Cloudberry's total expected production during 2024. The PPA will commence in January 2024 and last until December 2026. All figures are proportionate to Cloudberry.

Cloudberry will in addition to the PPA receive revenue from the sale of Guarantees of Origin ("GOs").