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Cloudberry Clean Energy ASA ( (DE:52K) ) has provided an update.
Cloudberry Clean Energy ASA has agreed to acquire 50% of the 132 MW MLK onshore wind farm in Finland, marking its first entry into the Finnish market and expanding its Nordic footprint. The project, operational since 2022, is expected to deliver 189 GWh in annual net production to Cloudberry, with Orrön Energy AB remaining as joint venture partner.
The EUR 75 million enterprise value for Cloudberry’s stake will be financed through a mix of EUR 45 million in project debt, EUR 20 million in newly issued Cloudberry shares, and EUR 12 million in cash. The deal, priced significantly below comparable construction costs and backed by a 30-year GE service agreement and potential for future battery storage, enhances portfolio diversification and gives Cloudberry a platform for further growth in a Finnish market with strong power demand fundamentals.
More about Cloudberry Clean Energy ASA
Cloudberry Clean Energy ASA is a Nordic renewable energy company that owns, develops and operates hydropower plants, wind farms and battery storage assets. Listed on the Oslo Stock Exchange, it focuses on supplying clean power across the Nordics, building a scalable platform to benefit from Europe’s long-term demand for renewable energy.
Average Trading Volume: 178,263
Current Market Cap: NOK4.17B
See more insights into 52K stock on TipRanks’ Stock Analysis page.