Ventolines shares inland lake experience with Cloudberry for Swedish wind farm

Dutch renewable energy service provider Ventolines announced it is working closely together with Norwegian renewable energy company Cloudberry Clean Energy ASA on the 100 MW Stenkalles Grund project, a shallow water wind project in Lake Vänern, Sweden’s largest inland lake. Ventolines was involved with the Westermeerwind and Fryslân wind farms that are also located in an inland lake.

Ventolines has been asked for the development of the technical concept and the contracting of this project. The knowledge and experience of Ventolines in the field of development and execution of Westermeerwind and Fryslân, wind farms, is very relevant for the Stenkalles Grund project. Key persons from the project have joined Cloudberry’s project team to secure and further optimize the execution plan. For Ventolines the involvement with Cloudberry marks an important step in their international expansion agenda.

Stenkalles Grund

The Stenkalles Grund wind project will comprise 16 wind turbines with a combined power of 100 MW. Cloudberry and Bagnall Energy Limited signed a share purchase agreement for the construction and ownership of the nearshore, shallow water wind farm in Lake Vänern in January 2021. Bagnall, part of the Downing Estate Planning Service (“DEPS”), managed by Downing LLP, has also signed an exclusivity agreement with Downing Renewables & Infrastructure Trust plc (“DORE”) for the purpose of concluding the acquisition jointly, with Bagnall and DORE each owning c. 40% and Cloudberry 20% of the equity in the wind farm.

Cloudberry stated that recent events have presented the company with the opportunity to retain a bigger stake in the Stenkalles Grund shallow water wind project in Lake Vänern. The agreement between Cloudberry and Downing had several milestones and a longstop date defined, which recently expired. The parties have not come to an agreement about an extension, and Cloudberry and Downing have therefore jointly agreed to terminate the agreement.

“For Cloudberry as an industrial player, this represents an opportunity to take a bigger stake in this important steppingstone for our offshore wind portfolio in the Baltic Sea. We would still be open for a partner to work with us, but with our high ambitions in offshore wind and the financial resources that are now available to us, we will certainly be looking to keep a significantly larger ownership that what was the premise in the previous agreement,”

Anders Lenborg, Chief Executive Officer of Cloudberry

Assessments of the project and discussions with potential wind turbine suppliers have identified several opportunities to improve project economics of the 100 MW shallow water development. With this prospect in sight, Cloudberry has decided to postpone final investment decision until mid-year 2022. As a result of this, the target commercial operation date of the project has been postponed from H2 2023 until 2024. The new timeline will allow the company’s new business segment Cloudberry Offshore Wind, headed by newly appointed Charlotte Bergquist, more time to optimize and integrate the project in the offshore wind portfolio.

Other project workstreams continue as planned. In addition to the partnership with Ventolines, a projecting agreement has been signed with the grid operator Ellevio for the connection to Dingelsundet transformer station. Source: Cloudberry

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