Cloudberry Clean Energy AS | Investment grade debt financing
Oslo, Norway, 17 March 2021: With reference to the stock exchange announcement dated 23 December 2020 regarding Cloudberry Clean Energy AS` ("Cloudberry" or the "Company") transaction for the acquisition of 15% of Odal Vindkraftverk AS (the "Odal windfarm") with the right to, and intention to, acquire up to a 33.4% shareholding in Odal windfarm by 30 June 2021.

Odal windfarm, owned by KLP, Akershus Energi and Cloudberry has raised EUR 90 million in investment grade debt from a syndicate of institutional lenders to partly finance the construction of the Odal windfarm, with an over 20 year tenor and a fixed rate coupon below 3%.

“This landmark deal secures long term, fixed rate and fully merchant financing for a Nordic wind asset and confirms our view of the strength and quality of the project and the ownership group”, says Anders Lenborg CEO of Cloudberry.

The Odal windfarm is currently under construction in Innlandet, Norway. Installation of 34 turbines with up to 163 MW capacity is expected to produce 526 GWh of electricity per year equivalent to the consumptions of 33.000 households.