Cloudberry Clean Energy ASA | Successfully completes sale of assets
Oslo, Norway, 30 June 2023: 16[th] of June 2023 Cloudberry (“Cloudberry” or the “Company”) announced the signing of a share sale and purchase agreement with Norsk Vannkraft AS (“Norsk Vannkraft”) for the sale of the three hydropower plants Åmotsfoss, Selselva and Nessakraft.Today, Cloudberry announces the successful completion of the transaction, yielding an internal rate of return (IRR) of above 55% p.a. for the Company and generating free cash of approximately NOK 500 million. The total transaction value is NOK 703 million, on a debt and cash free basis. The equity value of the shares to