Cloudberry reports strong Q3 2025, boosted by high realized power prices

Cloudberry Clean Energy ASA achieved strong financial results in the third quarter of 2025, with consolidated revenue reaching NOK 130m and proportionate revenue of NOK 158m. Consolidated EBITDA increased significantly to NOK 143m, boosted by a NOK 110m gain from the consolidation of the Forte Energy Norway portfolio. The company realized an average net power price of NOK 0.61 per kWh, surpassing the Nordic system price of NOK 0.43 per kWh, and proportionate production reached 177 GWh.

Strategic project updates include the formation of one of the Nordics' largest small-scale hydro platforms with Swiss Life, increasing Cloudberry's proportionate hydro production from approximately 200 GWh to 300 GWh. The Dingelsundet Battery Project (24MW/48 MWh) in SE-3 also reached its final investment decision, with commissioning expected in Q3 2026. The company maintained a strong proportionate cash balance of NOK 827m and attractive debt financing below 4% p.a.

Cloudberry continues to demonstrate its commitment to sustainability, achieving the highest total ESG rating in the Energy and Utility sector according to DNB Carnegie's "In Focus: ESG"-Report. The company also avoided 44,000 tCO2e emissions during the quarter and reported no recordable HSE incidents.