Usma Kraft hydropower plant is located in Selbu municipality in Trøndelag county and produces from the water in lake Usme and Gardåa river. The expected annual production is 25.5 GWh (9 MW).
"We are pleased to have strengthened our hydro portfolio and grateful for a well-managed process with TrønderEnergi. This hydropower plant meets all our ESG requirements and will contribute with clean sustainable power in decades to come. We look forward to developing Usma Kraft and run the plant in good co-operation with local partners", says Anders Lenborg, CEO of Cloudberry.
TrønderEnergi, the majority owner in Usma Kraft, has led the process for the sellers.
"Usma Kraft is a very solid hydro plant with a proven record of production and is well within the company's targeted equity IRR of 6-9% p.a. The hydropower plant fits well into our portfolio of producing assets and one more building block in our continued growth. We have also identified areas for increased production in Usma Kraft, says
"We are proud of what we and the other stakeholders have achieved with Usma hydropower plant. Together we have developed Usma to a modern and effective producer of renewable energy. Despite that Usma is a small power plant in the TrønderEnergi portfolio, and when Cloudberry entered the field and wanted to buy, the timing, the buyer and the price was right for us", says
Signing and financial closing is on
Advokatfirmaet DLA Piper Norway DA has acted as legal advisor to Cloudberry and Krafthuset AS has acted as advisor to the sellers.
For further information, visit our company and IR website www.cloudberry.no or contact:
This information constitutes insider information, and is subject to the disclosure requirements pursuant to Regulation EU 596/2014 (MAR) article 17, cf. section 5-12 of the Norwegian Securities Trading Act. This
About Cloudberry
Cloudberry is a renewable energy company operating in the Nordics and in accordance with local tradition. The company owns, develops, and operates hydropower plants and wind farms in
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
Cloudberry`s shares are traded on
https://news.cision.com/cloudberry-clean-energy-as/r/cloudberry-clean-energy-asa---signed-spa-to-purchase-hydropower-plant-in-norway,c3400473
https://mb.cision.com/Main/19955/3400473/1456817.pdf
(c) 2021 Cision. All rights reserved., source