Cloudberry Clean Energy ASA Shifts Hydropower Portfolio with Asset Sales and Stake Increase

Norwegian company Clean Energy ASA (OSE:CLOUD) has announced strategic transactions involving its assets, marking a significant shift in its portfolio composition.

Cloudberry disclosed on Thursday the sale of three hydropower stations—Usma, Bjorgelva, and Finnesettbekken—with a combined estimated annual output nearing 36 GWh.

The assets were sold for NOK 320.5 million (USD 30.1m/EUR 28.1m) in a debt and cash-free transaction. Cadre AS, a Norwegian small-scale hydropower firm majority-owned by Nordkraft and HitecVision and established in 2023, has acquired these assets.

Simultaneously, Cloudberry has agreed to increase its ownership stake in Forte Energy AS, a move aimed at enhancing its presence in the Nordic renewable energy sector. Cloudberry will raise its shareholding to 49.99% by purchasing an additional 15.99% stake from a fund managed by Swiss Life Asset Managers.

Forte Energy Norway owns a diversified portfolio of 14 hydropower plants, producing a combined annual output of 234 GWh, along with a 20-GWh power offtake agreement.

SUBSCRIBE

Related Articles

Popular Categories