Cloudberry Clean Energy acquires shares in Odal Vindkraftverk AS

DLA Piper Norway has advised Cloudberry Clean Energy AS (Cloudberry), the Nordic renewable energy company, on its acquisition of 15% of Odal windfarm (Odal Vindkraftverk AS), with Akershus Energi and KLP as partners. Cloudberry has the right to, and intends to, acquire up to a 33.4% shareholding in Odal windfarm by 30 June 2021.

Odal windfarm is a major wind development currently under construction in Innlandet, Norway. Installation of 34 turbines with up to 163 MW capacity is expected to be completed within year-end 2021 with electricity production commencing in Q1 2022.

The transaction was conditional on the NOK 500 million private placement of new shares that successfully closed on December 21, 2020.

The DLA Piper team was led by corporate partners Kaare Oftedal and Magnus Brox, and lead lawyer Ole Christian Muggerud. 

Cloudberry is a Nordic renewable energy company, owning, developing, and operating hydro power plants and wind farms in Norway and Sweden. 

Please find more info on the transaction published by Cloudberry.