Cloudberry divests major stake in 100 MW Rewind Vanern offshore wind project

Cloudberry Clean Energy AS and Downing LLP, on behalf of its managed fund(s), have signed the share purchase agreement (SPA) for the construction and ownership of a 100 MW nearshore, shallow water wind farm in Lake Vänern in southern Sweden. Cloudberry Production will own 20% of the project after commissioning.

Total expected sales value of the wind project is around NOK300 million (US$35 million) subject to actual costs and that the final investment decision related to the project is made. Around NOK100 million (US$11.7 million) will be paid at the expected financial close during 2021, and the remaining purchase price will be paid after project commissioning in the second half of 2023.