The Company is pleased to announce the following update relating to some of its key activities:
All 34 turbines have been erected and to date, 11 turbines are powered.
It is expected that all turbines will be energized within the energizing deadline, which is June 30, 2022.
Due to the strong wind in the winter of 2021/2022 and some delays from project suppliers, additional resources were used to meet the power-up deadline. Consequently, the capex budget increased slightly (less than 5% of budgeted capex).
Civil engineering works have started and the foundations of the 5 wind turbines have been completed.
The project is currently progressing as planned and the wind farm is expected to be completed by the end of 2022.
Ramsliana and Skåråna
The Ramsliåna hydroelectric power station is completed and in production on March 31, 2022.
Construction and delivery have been completed in Skåråna and we expect Skåråna to generate revenue by the end of Q2-22.
Final procurement is underway and progressing according to plan.
Secured option to purchase Munkhyttan II (additional 18 MW) under the same terms and conditions
Cloudberry is currently optimizing the project (20 – 40 MW) and finalizing the final development and procurement process (i.e. turbine negotiations).
The project is expected to be completed by the end of 2023.
The network owner, Vattenfall, has completed an environmental impact study and applied for a permit to increase the capacity of the electricity network to match the construction permit from Elmarknadsinspektionen.
Construction is expected to begin after receipt of the power grid capacity expansion permit, which is expected in 2022.
Cloudberry’s offshore team is working closely with the project team from Dutch company Ventolines to optimize the project and further reduce risk before making the final investment decision, which is expected to be made in 2022.
Commercial operation is expected by the end of 2024.
In January, Cloudberry completed the Captiva transaction. The transaction has been well received by both organizations and the parties have already launched several development initiatives within Nordic Wind and Hydro.
So far in 2022, 100% of Cloudberry’s power generation has been exposed to spot prices.
As a result of among others activities related to the establishment of the Captiva group, the work in progress on the listing prospectus relating to the private placements resolved in December and in relation to the acquisition of the Captiva group and the integration of the new directors selected by the meeting general today, the Company has decided to postpone the publication of the interim report for the first quarter of 2022 until June 7, 2022. This is separately disclosed in the Company’s updated financial calendar.
For more information, please contact:
Anders Lenborg, CEO, +47 934 13 130, firstname.lastname@example.org
Christian Helland, CVO, +47 418 80 000, email@example.com
This information is subject to the disclosure requirements in accordance with Section 5 -12 of the Norwegian Securities Act. This stock announcement was posted by Andreas Thon Aasheim, CCO at Cloudberry Clean Energy ASA on April 28, 2022, 5:30 p.m. CEST.
Cloudberry is a renewable energy company operating in the Nordic countries and respecting local traditions. The Company owns, develops and operates hydroelectric power plants and wind farms in Norway and Sweden. Cloudberry is powering the energy transition towards 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 Europe. With this as its foundation, Cloudberry is building a sustainable, scalable, efficient and profitable platform for creating shareholder value. Cloudberry shares are traded on the main listing of the Oslo Stock Exchange (Oslo Børs), backed by strong owners and led by an experienced team and board of directors. The Company has offices in Oslo, Norway (main office), Karlstad and Gothenburg, Sweden. To learn more about Cloudberry, visit www.cloudberry.no
Cloudberry Clean Energy ASA published this content on April 28, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on Apr 28, 2022 3:42:04 PM UTC.