Cloudberry Clean Energy was established in 2017 as an energy production company. In February 2020, Cloudberry merged the company with a development company (former Scanergy AS) and an infrastructure fund (former CB Nordic Renewable & Infrastructure Fund I AS).
The rationale behind the merger was to unite the complementary characteristics of the businesses and highly experienced organisations under one roof to form a scalable platform for growth in the attractive Nordic renewable energy market.
Cloudberry has an integrated business model with two business segments: Develop and Production. This enables a simple and transparent value chain.
Cloudberry Develop holds a significant development portfolio with renewable assets in Sweden and Norway. Cloudberry Develop is responsible for development of hydro and wind power assets with the help of externally sourced construction partners. Most of the assets developed are kept and transferred to Cloudberry Production while others are wholly or partly sold.
Cloudberry Production is the owner of two producing hydro and wind assets in Norway. The power production is sold on a continuous basis through bilateral agreements or through spot market, Nordpool spot. Producing assets are entitled to electricity certificates and guarantees of origin. Producing assets are remotely controlled from operational centres and Cloudberry have operational agreements with local partners. Production and other key performance data are reported to The Norwegian Water Resources and Energy Directorate.
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