Cloudberry Clean Energy ASA | Sale of assets demonstrating significant value creation and enabling new project developments
Oslo, Norway, 16 June 2023: Cloudberry ("Cloudberry" or the "Company") has today entered into a share sale and purchase agreement with Norsk Vannkraft AS (“Norsk Vannkraft”) for the sale of the three hydropower plants Åmotsfoss, Selselva and Nessakraft, representing a total estimated annual production of 77 GWh. The transaction shows significant value creation throughout Cloudberry’s value chain, yielding an internal rate of return (IRR) of above 55% p.a resulting in a price above two times the booked equity of the assets.Recycling of capital is an important tool for Cloudberry's value