Norway’s Cloudberry Clean Energy has secured approval from all of the shareholders in Scanvind2 AS, the holding company of the Rewind Vänern offshore wind project in Sweden, to acquire it
The company said the transaction “marks a new step towards Cloudberry’s ambition of becoming a substantial developer of offshore wind in the Nordic region.”
The 16-turbine, 100-MW project is located in shallow water on the largest lake in Sweden, close to Cloudberry’s Karlstad office. Construction is expected to get under way in 2021/2022.
Cloudberry chief executive Anders Lenborg said, “We know the Rewind Vänern project well from our participation in the initial project team and will leverage our experience as project owner.
“We have already established dialogue with strong operational and financial partners who are as motivated as we are to deliver efficient project development and sound value-creation.
“This transaction is an important step towards fulfilling Cloudberry’s growth ambitions in offshore wind and reflects our long-term strategy of being a substantial developer of renewable energy projects in the Nordic countries.”
Cloudberry’s development strategy includes a capital-light business model in which financing and construction are secured through a partnering model, with the company’s specialised development competence, local presence and construction licences among its contribution to potential offshore wind projects.
“Offshore wind in the Baltic has significant potential. Cloudberry has the know-how and experience to efficiently develop such projects,” said Mr Lenborg. “We have identified several potential offshore projects as part of our ambition to develop 2.5 GW of offshore wind in Sweden by 2030.”