- Another strong financial quarter
-
Consolidated and proportionate EBITDA of
NOK 34m (-7m) andNOK 57m (-11m) in fourth quarter respectively (same quarter last year) -
The increase in profitability mainly relates to increased power production and higher realized average power prices,
NOK 1.29 per kWh in fourth quarter - Proportionate production increased by ~100% to 95 GWh (48 GWh)
- The production in fourth quarter implies 21,090 tCO2 of avoided emissions
- Strong balance sheet, fully financed for ~1 TWh (including Odin)
-
Consolidated and proportionate EBITDA of
-
Project highlights:
- Hån. Delivered on-time and budget with strong ESG focus
-
Sundby (Kafjärden). Final investment decision taken in
December 2022 . Nine Vestas turbines to be installed during H2 2023 and revenue generation from H1 2024
-
Acquiring the Odin portfolio, subsequent event:
- Cloudberry has signed a sale and purchase agreement acquiring 80% of the Odin portfolio from Skovgaard Energy A/S ("Skovgaard")
- A game changing step into the Danish market that creates a strong and diversified position for Cloudberry. Primarily located in the attractive DK1 price area
- Portfolio consists of 51 high-quality Vestas and Siemens turbines in total 106MW (net to Cloudberry), all in production
- Immediately increasing production capacity with up to 70%
- Acquisition includes land, re-powering options and certain rights to new wind and solar development projects through agreement with Skovgaard
- A strategic partnership with Skovgaard which has a local and highly successful development team and over 20 years of industry expertise
- Fully financed through existing cash & bank facility (approx. 50% equity / 50% debt)
Cloudberry invites investors, analysts, and other stakeholders to company presentation today at
The fourth quarter report for 2022, the presentation material and the link to the webcast and Q&A session will be made available at http://www.cloudberry.no/.
For further information please contact:
Anders Lenborg, CEO, +47 934 13 130, al@cloudberry.no
Ole-Kristofer Bragnes, Senior Financial Officer, +47 917 03 415, okb@cloudberry.no
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act. This
About Cloudberry
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
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