Cloudberry Clean Energy ASA

Regulatory Filings • Jun 29, 2021

Cloudberry Clean Energy ASA | Cloudberry makes final investment decision to construct 74 GWh windfarm in Sweden

Cloudberry Clean Energy ASA | Cloudberry makes final investment decision to construct 74 GWh windfarm in Sweden

29 June 2021: Cloudberry Clean Energy ASA ("Cloudberry" or "the Company"), the

Nordic renewable energy company that owns, develops and operates hydro power

plants and windfarms in Norway and Sweden, has today made an investment decision

to build and own Hån windfarm in Årjäng, Sweden.

"The Hån windfarm project is fully developed by Cloudberry and with this, we

make important progress powering the much-needed energy transition," says Anders

Lenborg, CEO of Cloudberry.

The windfarm is to be supplied by five Vestas turbines, with an installed

capacity of 21 MW. The estimated output per year will be 74 GWh, or enough

electricity to power more than 30,000 electric cars given current efficiencies

and driving patterns. Construction start is planned for second half of 2021 and

operations estimated from end of 2022. Vestas will be responsible for

maintenance and operations of the turbines through a signed long term service

agreement.

"This is a truly Nordic project, reflecting our Nordic growth and value creation

strategy. The windfarm is being built in Sweden, with the power to be fed

through cabling into the Norwegian electricity grid. Alongside Swedish and

Norwegian civil work contractors on respective sides of the border, the project

is also supplied with substation works from the Finnish-owned contractor Veo and

wind turbines from Danish-owned Vestas," says Lenborg.

The power from Hån windfarm will be exported directly from the Swedish windfarm

into the Norwegian grid, with all necessary licenses from Norwegian and Swedish

authorities in place. Hån is located opposite side of the border of the Marker

windfarm, a 54 MW project that Cloudberry developed, constructed, and sold to

BKW Energie in 2019.

"The project benefits from use of existing infrastructure, rock-anchored

foundations, and an overall effort to minimize footprint, without having to

compromise on our project returns. The estimated project return (IRR) is

approximately 12% over the lifetime of the project," says Lenborg.

For further information, please contact:

Anders Lenborg, CEO

Phone: +47 934 13 130

Email: al@cloudberry.no

Christian Helland, CVO

Phone: +47 418 80 000

Email: ch@cloudberry.no

Tor Arne Pedersen, CDO

Phone: +47 488 95 692

Email: tap@cloudberry.no

This information is subject to the disclosure requirements pursuant to Section 5

-12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Suna F. Alkan, Chief

Sustainability Officer, Cloudberry Clean Energy ASA, on 29 June 2021 at 08:00

CEST.

About Cloudberry

Cloudberry Clean Energy ASA is a Nordic renewable energy company, owning,

developing, and operating hydro power plants and wind farms in Norway and

Sweden. The Company`s purpose is to provide clean renewable energy for future

generations, developing a sustainable society for the long term and creating

value for our stakeholders. The Company believe in a fundamental long-term

demand for renewable energy in the Nordics and Europe, and purpose shapes every

aspect of how Cloudberry operates.

Cloudberry`s shares are traded on Oslo Stock Exchange's main list (Oslo Børs),

supported by strong owners and led by an experienced management team and board.

The Company is located in Oslo, Norway (main office) and Karlstad, Sweden. To

learn more about Cloudberry, go to www.cloudberry.no.