Cloudberry buys 18-MW wind project in Sweden, eyes 18 MW more

Cloudberry Clean Energy ASA (OSE:CLOUD) has acquired an18-MW late-stage development wind project in Sweden and signed to an option giving it the right to buy a 18-MW extension to the scheme.

The Nordic renewable energy company said last week it has taken possession of Munkhyttan Vindkraft AB, the vehicle behind the 18-MW project in the municipality of Lindesberg, Orebro County. Financial details about the purchase were kept under wraps.

Final negotiations are ongoing with German turbine supplier Eno-Energy for the delivery of three 6-MW machines that will be powering the phase one plant. Cloudberry said it will aim to reach commercial operations at the project in 2023/2024. Once up and running, the wind farm is expected to produce around 60 GWh of electricity per year.

According to Cloudberry’s estimates, the total project investment, including development costs, stands at less than SEK 4 (USD 0.438/EUR 0.383) per kWh.

Under the deal, Cloudberry has also secured an option to buy the project’s second phase – the 18-MW Munkhyttan II – on the same conditions. The extension project is already in the permitting stages.

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