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    CLOUD   NO0010876642

CLOUDBERRY CLEAN ENERGY ASA

(CLOUD)
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Cloudberry Clean Energy ASA : | Takeover of two hydropower plants

07/01/2021 | 01:31am EDT

Oslo, Norway, 1 July 2021: The two hydropower plants Nessakraft in Balestrand, Norway and Bjørgelva Kraft in Sørreisa, Norway have been transferred to Cloudberry Clean Energy ASA ("Cloudberry" or the "Company") on 30 June 2021, after completion of the commissioning period.

Nessakraft has an expected annual production of 34 GWh and Bjørgelva Kraft has an expected annual production of 7 GWh. Both hydropower plants are acquired from Tinfos AS.
  
"We are pleased that Nessakraft and Bjørgelva Kraft now formally are handed over to Cloudberry, as a part of the execution of our growth strategy", says Anders Lenborg, CEO of Cloudberry.
  
For further information, visit our company and IR website www.cloudberry.no or contact:
  
Anders Lenborg, CEO, +47 934 13 130, al@cloudberry.no
Christian Helland, CVO, +47 418 80 000, ch@cloudberry.no
Jon Gunnar Solli, COO, +47 970 38 507, jgs@cloudberry.no
 

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 Suna F. Alkan, Chief Sustainability Officer, Cloudberry Clean Energy ASA, on 1 July 2021 at 07:30 CEST.
  
About Cloudberry
  
Cloudberry Clean Energy ASA is a Nordic renewable energy company, owning, developing, and operating hydro power plants and wind farms in Norway and Sweden. The Company`s purpose is to provide clean renewable energy for future generations, developing a sustainable society for the long term and creating value for our stakeholders. The Company believe in a fundamental long-term demand for renewable energy in the Nordics and Europe, and purpose shapes every aspect of how Cloudberry operates.
 
Cloudberry`s shares are traded on Oslo Stock Exchange's main list (Oslo Børs), supported by strong owners and led by an experienced management team and board. The Company is located in Oslo, Norway (main office) and Karlstad, Sweden. To learn more about Cloudberry, go to www.cloudberry.no. 

https://news.cision.com/cloudberry-clean-energy-as/r/cloudberry-clean-energy-asa---takeover-of-two-hydropower-plants,c3377598

https://mb.cision.com/Main/19955/3377598/1439204.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 150 M 17,4 M 17,4 M
Net income 2021 76,8 M 8,91 M 8,91 M
Net cash 2021 676 M 78,4 M 78,4 M
P/E ratio 2021 39,6x
Yield 2021 -
Capitalization 3 373 M 391 M 392 M
EV / Sales 2021 18,0x
EV / Sales 2022 22,0x
Nbr of Employees 10
Free-Float 72,8%
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Mean consensus BUY
Number of Analysts 2
Last Close Price 17,40 NOK
Average target price 22,00 NOK
Spread / Average Target 26,4%
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Managers and Directors
Anders J°rgen Lenborg Chief Executive Officer
Christian Helland Chief Financial & Value Officer
Frank Jarle Berg Chairman
Jon Gunnar Solli Chief Operating Officer
Petter Winther Borg Director
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