Cloudberry in brief
Cloudberry is a renewable energy company, born, bred, and operating in the Nordics. We develop, own and operate hydropower plants, wind farms and solar plants in Norway, Sweden and Denmark. We are powering the transition to a sustainable future by providing new renewable energy today and for future generations. As the junction box between capital, projects and local stakeholders, we balance respect for nature, biodiversity, and community values with sustainable and profitable growth. We believe in a fundamental, long-term and increasing demand for renewable energy in Europe. With this as a cornerstone, we have built a sustainable and scalable platform for creating stakeholder value.
“We are powering the transition to a sustainable future by providing new renewable energy today and for future generations”
Cloudberry’s business model is reflected in our organization
Cloudberry has a “develop, own and operate” business model of renewable assets. Cloudberry is organized in three revenue generating segments and one cost-efficient corporate segment. After purchasing 100% of Captiva in December 2023, we rebranded the segments in 2024 into Projects (previously Development), Commercial (previously Production), and Asset Management (previously Operations). The scope, revenue, and cost streams of the segments are comparable to the previously reported segments.
Projects is a green-field developer of hydro, wind, solar and storage projects, including an experienced construction team in charge of building power plants with a solid track record. Commercial is an active owner of renewable power assets in the Nordics, and in charge of M&A and partnerships in Cloudberry. Asset Management manages and operates renewable assets primarily for external clients, as well as Cloudberry's own portfolio, ensuring sustainable performance and value creation for all stakeholders.
Our strong commitment to local communities and our integrated and responsible focus on the value chain ensure value creation and optimization of stakeholder interests.
Our Values
Cloudberry’s growth strategy
Our portfolio of producing assets, including the newly signed Skovgaard transaction on 5 December 2024 (more information in Commercial segment reporting), consists of 22 hydropower assets and 114 wind turbines (organized in seven projects), wholly and partially owned. We have a local and active ownership strategy and prefer majority ownership; however, in certain investments we have shared ownership alongside strategic partners. The scalable Cloudberry platform is positioned for profitable growth, both in terms of energy production and growth in our in-house development portfolio. We are backed by strong owners and an experienced management team. Our shares are traded on the Oslo Stock Exchange’s main list, ticker: CLOUD.
Information about reporting format
Cloudberry reports consolidated financial statements in accordance with IFRS and supplementary proportionate segment reporting. Proportionate financials represent Cloudberry’s proportionate share of the financial results, assets, and liabilities of all entities and excluding any eliminations of transactions between segments. Cloudberry believes that proportionate reporting provides enhanced insight into the operation, financing and future prospects of the Group. Proportionate reporting is aligned with internal management reporting, analysis and decision making.
During 2024, Cloudberry continued to prepare for the European Sustainability Reporting Standards (ESRS). The sustainability statements in the annual report for 2024 will be inspired by ESRS but not yet fully aligned with its requirements.