Cloudberry Clean Energy ASA has signed a share purchase agreement (SPA) with Sampi Renewables Holding AS to acquire a 50 per cent stake in the 132 MW MLK onshore wind farm in Finland. The project has been operational since 2022 and generates approximately 378 GWh annually, with 189 GWh attributable to Cloudberry. The transaction is structured through the acquisition of a Norwegian holding company that owns half of the wind farm. Orrön Energy AB will continue to remain the joint venture partner of the wind farm. The project includes a 30-year service agreement with GE, and also has potential for integrating a battery energy storage system in the future.
The agreed enterprise value for the 50 per cent stake stands at €75 million on a cash and debt free basis. The transaction will be financed through a combination of €45 million in debt arranged via a ring-fenced structure from an unnamed reputable Nordic bank. Additionally, around €20 million will be financed through the issuance of new shares in the company, and €12 million will be financed in cash from the company’s balance sheet. The transaction remains subject to customary closing conditions and is expected to be completed within one month of the SPA signing.
In January 2026, OX2 completed and transferred the ownership of the 455.4 MW Lestijärvi wind farm in Finland to a consortium comprising Kymppivoima, Oulun Energia, and Kuopion Energia. Construction of the project was carried out by OX2, which consists of 69 wind turbines and represents an investment of €650 million.