DLA Piper advises Cloudberry Clean Energy on acquisition of Skåråna Kraft AS

DLA Piper Norway has advised the Nordic renewable energy company Cloudberry Clean Energy AS on its acquisition of 100% of the shares in Skåråna Kraft AS.

The financing of the hydropower company is covered by the announced Private Placement on 14 December 2020.

Skåråna Kraft is developing two power plants, Steinbergdalen and Flatestøl, located in Lund municipality in Rogaland county.  These two hydropower plants will be constructed in 2021 and are scheduled to commence production in the fourth quarter 2021 with an annual production at a normalised level of 14 GWh.

The DLA Piper team was led by corporate partner and head of DLA Piper Norway’s Renewables sector group, Kaare Oftedal and lead lawyer, Ola Rundfloen.

Find more info on the transaction published by Cloudberry.