Cloudberry to acquire 100 MW Rewind Vanern offshore wind

Cloudberry Clean Energy AS has received 100% acceptance for its offer to the shareholders in Scanvind2 AS, the holding company of the Rewind Vänern offshore wind project in Sweden.

The 16-turbine/100 MW project is located in shallow water on the largest lake in Sweden, near to Cloudberry’s Karlstad office, and will significantly improve the region’s access to clean and renewable energy when fully developed. Construction start is anticipated in 2021/2022.

The settlement of the shares in Scanvind2 AS will be a combination of reversal of the ScanVind2’s sales credit to Cloudberry, an issuance of about 2.2 million Cloudberry shares at NOK12.5 (US$1.4) per share, and a cash payment of NOK7 million (US$0.8 million).

The transaction is expected to be completed by 26 September 2020.