Following completion of the commissioning period, Cloudberry Clean Energy has announced it has officially taken over the 4.5MW Åmotsfoss Kraft AS hydropower plant in Norway.
Åmotsfoss is located in Arendalsvassdraget, and benefits from the large reservoirs upriver from Åmotsfoss. The power plant will produce on average 22,7 GWh per year from its three Kaplan turbines. It was built by BN Vannkraft AS, in close cooperation with local contractors, and was delivered on time and on budget.
“We are proud to include Åmotsfoss to our portfolio, a state-of-the-art power plant with a highly attractive production profile, in the NO2 price area,” said Jon Gunnar Solli, COO at Cloudberry.
The power market is heavily affected by record high gas prices, CO2 prices and a low hydrological balance in the NO1, -2 and -5 price areas in Norway, leading to record high power prices. A majority of Cloudberry’s power production is located in NO1, -2 and -5 areas, and the share will grow as the wind farms Odal Vindkraftverk and Hån Vindpark, and hydropower plants Skåråna Kraft and Ramsliåna Kraft finish construction.
"The short-term contracts in the market (DEC21, Q1 22) are all well above the power price we have used prior to investment decision on all our power plants under construction. While we do not expect market prices to remain on such high levels, we remain confident long term power prices will sustain profitable production from our wind and hydro assets”, commented Anders Lenborg, CEO of Cloudberry.