Cloudberry takes over 4.5-MW hydro plant in Norway

Cloudberry Clean Energy ASA (OSE:CLOUD) has acquired the 4.5-MW operating hydropower plant Amotsfoss Kraft AS in southeastern Norway after the conclusion of the commissioning period for the facility.

Located on the Nidelva river in the Arendalsvassdraget river system, the hydroelectric plant was built by BN Vannkraft AS and has three Kaplan turbines. It will produce on average 22.7 GWh annually, with its output sufficient to power 10,000 electrical cars per year.

Cloudberry agreed to buy the plant in September 2020 while it was still under construction. The facility went live in the third quarter of 2021.

Amotsfoss is located in one of three areas in Norway that have had record-high energy prices and where most of Cloudberry's power production assets are based.

"While we do not expect market prices to remain on such high levels, we remain confident long term power prices will sustain profitable production from our wind and hydro assets”, Cloudberry CEO Anders Lenborg said.

Other projects under construction by Cloudberry in the areas include the Odal Vindkraftverk and Han Vindpark wind farms as well as hydropower plants Skarana Kraft and Ramsliana Kraft.

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