Brief: Cloudberry Clean Energy Updates On Tax Proposal

Cloudberry Clean Energy ASA

30/09/2022 07:10

Sept 30 (Reuters) - Cloudberry Clean Energy ASA
 CLOUD.OL :
    * UPDATE ON TAX PROPOSAL
    * IS CONTINUOUSLY ASSESSING SITUATION AND HOW PROPOSAL WILL
AFFECT
CLOUDBERRY'S SITUATION GOING FORWARD
    * HOWEVER, GOVERNMENT HAS NOT PUBLISHED FULL PROPOSAL YET
AND AS
SUCH SITUATION FOR RENEWABLE ENERGY SECTOR IN NORWAY IS UNCLEAR
    * IF PROPOSED TAXATIONS ARE IMPLEMENTED, THIS WILL REPRESENT
A
REDUCTION IN ASSET VALUES FOR CLOUDBERRY OF ABOUT NOK 2-3 PER
SHARE COMPARED TO ASSET VALUES PRIOR TO ANNOUNCEMENT, WHERE ODAL
VIND REPRESENTS LARGEST DECREASE IN VALUE
    * FOR NEW WIND DEVELOPMENT PROJECTS RESOURCE TAX CAN HAVE A
POSITIVE IMPACT, ASSUMING THAT RESOURCE TAX WILL HAVE SAME CASH
FLOW TAX PRINCIPLES AS LARGE-SCALE HYDRO WHERE INITIAL CAPEX
DEDUCTION RESULTS IN A CASH REIMBURSEMENT
    * PROPOSED CHANGES WILL NOT IMPACT 2022 RESULTS

Source text for Eikon:  ID:nObiYKtv8a 
Further company coverage:  CLOUD.OL 
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