Odal windfarm has raised EUR 90 million in investment grade debt

Odal Vindkraftverk AS (the “Odal windfarm”), owned by Cloudberry Clean Energy, KLP and Akershus Energi has raised EUR 90 million in investment grade debt from a syndicate of institutional lenders to partly finance the construction of the Odal windfarm.

The Odal windfarm is a major wind development currently under construction in Innlandet county in Norway. Installation of 34 turbines with up to 163 MW capacity is expected to produce 526 GWh of electricity per year, which is equivalent to the consumptions of 33.000 households.

A DLA Piper team led by partner Erik Ramm is advising Odal Windfarm on the debt financing.