Oslo, Norway, 25 October 2022: Cloudberry Clean Energy ASA (“Cloudberry” or the “Company”) reports strong financial growth in addition to favorable project updates.
Strong financial and operational quarter
Consolidated and proportionate EBITDA of NOK 74m (-3m) and NOK 284m (2m) in third quarter respectively (same quarter last year).
The increase in profitability mainly relates to increased power production and higher realized average prices, in addition to the internal sale of Hån for the proportionate financials.
Proportionate production 70 GWh (35 GWh).
All interest-bearing debt on fixed rates (predominantly secured last year, 10 – 20y)
New Norwegian tax proposal. Odal Vind represents main impact if implemented, no impairment expected.
Equity strengthened with NOK 800m. Fully financed development portfolio (>1 000 GWh annual production).
Project highlights per…