Our business model


Cloudberry is a Nordic renewable energy company and a local owner, developer and operator of hydro power plants and wind farms in Norway and Sweden. A sustainable and local approach is distinctive for our way of working, together with a commitment to long-term value creation for stakeholders.

Cloudberry is a Nordic renewable energy company and a local owner, developer and operator of hydro power plants and wind farms in Norway and Sweden. A sustainable and local approach is distinctive for our way of working, together with a commitment to long-term value creation for all stakeholders.

We have an integrated business model with two business segments, Develop and Production, that combined cover the upstream part of the power generation value chain. The integrated business model secure aligned interests throughout the value chain, with transparent and non-complex corporate structures.

Our Develop business segment

  • Develops hydro and wind power assets internally to ready-to-build phase
  • Sources construction externally from high quality partners, limiting fixed cost base and risk
  • Selectively choose to divest or keep assets on asset-by-asset basis
Bruk denne Nessakraft
Nessakraft hydropower plant under construction.

Our Production business segment

  • Holds producing wind and hydro assets
  • Sources operations and maintenance from high quality partners, maximising cost efficiency
  • Optimise production from our portfolio through geographical diversification and a balance between hydro and wind assets
  • Revenues are predominantly generated from sale of our power production, electricity certificates and guarantees of origin
  • Some of our sales will be based on long-term fixed price purchase agreements (PPAs), and some will be exposed to electricity sold in the spot market
  • Sources new assets externally or internally (from Develop)
HUG00574

Balance and diversification

Organic project development is at the core of our business model, starting with a land agreement and ending with a fully operational hydropower plant or wind park producing clean renewable energy that we sell to customers.

We will continuously cultivate our asset portfolio to ensure diversification and balance by use of M&A and selective divestments. We will also selectively choose to either keep or divest internally developed projects. The decision to keep vs. divest will be an ongoing portfolio decision in order to secure a balanced and diversified portfolio, e.g. taking into account return targets / alternative cost of capital, asset type mix (hydro / wind), geographical mix (Norway / Sweden / other Nordic country), asset risk concentration (small / large) and ensuring a balanced capital allocation between projects

Our diverse production and development portfolio with assets in different stages generates both near-term and long-term cash flows.