DLA Piper advises Cloudberry Energy ASA with the acquisition of 51 onshore wind turbines in Denmark and Sweden

DLA Piper has advised the Norwegian company, Cloudberry Clean Energy ASA on its first project in Denmark in which they acquire a large part of Skovgaard Energy A/S’ portfolio of onshore wind turbines.

The agreement secures Cloudberry a majority stake in a portfolio consisting of up to 51 high-quality wind turbines in production, with 47 turbines located in Denmark and additional 4 turbines in southern Sweden. Cloudberry will acquire 80% ownership in the newly established company Odin Energy P/S ("Odin") while Skovgaard will keep a 20% ownership.

Cloudberry Clean Energy ASA is a listed renewable energy company that owns, develops, and operates hydropower plants and wind farms in Norway, Sweden and – after the transaction – also in Denmark.

The agreement was signed today, 10 February 2023, and is pending final approvals and closing.

The transaction was led by DLA Piper Denmark with assistance from DLA Piper Sweden and DLA Piper Norway. DLA Piper’s Danish M&A team was Kristian Tokkesdal, Martin Juste, Patrick Holdt, Cecilie Kallmayer and Anne-Sofie Thomassen.

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