Cloudberry Grabs 210MW Hybrid Project in Denmark

• Cloudberry Clean Energy ASA takes an exciting step with the purchase of a 210MW hybrid solar & wind project in Denmark, with 168MW of power generating capacity. Join Cloudberry and Skovgaard on this ambitious project for a 30-year lease - and beyond!

Cloudberry Clean Energy ASA has purchased a 210MW hybrid solar and wind project in Denmark from Skovgaard Energy A/S. This project has 168MW of renewable power generating capacity, with 140MW coming from solar and the rest from wind. The project will be developed jointly between Cloudberry and Skovgaard with an enterprise value of 8 million Euro with 1.6 million Euro paid up front by Cloudberry. Upon a final investment decision (FID) and a commercial operating date (COD) respectively, 4.8 and 1.6 million Euro will be paid in two installments. This marks their first hybrid project and a 30-year land lease agreement with an option to extend another 30 years.

What Benefits Does Cloudberry Gain From Its Hybrid Solar and Wind Project in Denmark?

Benefits that Cloudberry Gains From Its Hybrid Solar and Wind Project in Denmark:

• An increase of 168MW in renewable power generating capacity, 140MW of which is from solar and the rest from wind.
• Gained a 30-year land lease agreement with an option to extend an additional 30 years.
• An increase in their total enterprise value to 8 million Euro.
• An up-front payment of 1.6 million Euro.
• Two additional payments of 4.8 and 1.6 million Euro upon Final Investment Decision (FID) and Commercial Operating Date (COD).
• Access to Denmark’s renewable energy market.