Cloudberry to Acquire 50% Stake in 132MW Wind Farm in Finland
Cloudberry Clean Energy has agreed to acquire a 50% stake in a 132MW onshore wind farm in Finland for €75m. The farm has been operational since 2022, producing 378 GWh annually, with Cloudberry expecting 189 GWh net. The acquisition involves shares in a Norwegian holding company, with financing including €45m in debt and €20m in new shares. The deal is expected to close within one month, subject to conditions.
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Cloudberry Clean Energy will acquire a 50% stake in a 132MW onshore wind farm in Finland for an enterprise value of €75m. The wind farm, operational since 2022, generates 378 GWh per year, with Cloudberry anticipating approximately 189 GWh net from its share.
The acquisition involves purchasing shares in a Norwegian holding company. Financing includes €45m in debt from a Nordic bank, €20m through the issuance of new shares, and €12m in cash. The transaction includes a 30-year service agreement with GE. The deal is expected to finalize within one month, subject to customary conditions.
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