Brief: Hafslund Joins Cloudberry Clean Energy As JV Partner For Stenkalles Wind Power Project

Cloudberry Clean Energy ASA

06/07/2022 11:56

July 6 (Reuters) - Cloudberry Clean Energy ASA  CLOUD.OL :
    * CLOUDBERRY PARTNERS WITH HAFSLUND FOR THE STENKALLES OFFSHORE WIND PROJECT
    * TRANSACTION IS EXPECTED TO CLOSE IN SEPTEMBER 2022
    * HAS ENTERED INTO A BINDING TERM-SHEET FOR SALE OF 50% OF SHARES IN CLOUDBERRY OFFSHORE
WIND AS
    * TO FORM A 50/50 JOINT VENTURE WITH HAFSLUND AS
    * FINAL CONSIDERATION FOR EARLY DEVELOPMENT WILL BE SPLIT IN TWO; ONE UP-FRONT PAYMENT
(APPROX.
NOK 1 MILLION PER MW) AND AN ADDITIONAL CONSIDERATION BASED UPON SUCCESS OF PROJECT AT
COMMERCIAL OPERATING DATE
    * PARTIES WILL WORK TOGETHER TOWARDS A FINAL INVESTMENT DECISION ("FID") EXPECTED LATER THIS
YEAR

Source text for Eikon:  ID:nWkr7GFh3M 
Further company coverage:  CLOUD.OL 

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