Cloudberry Clean Energy Posts Record Q3 Production
The Norwegian renewable energy company reported higher revenue and EBITDA after completing its acquisition of Orrön Energy's Nordic platform.
Updated on Nov. 4, 2026 in Corporate Finance
Cloudberry Clean Energy reported record-high quarterly production and power-related revenues in Q3 2026, with proportionate revenue more than doubling year-over-year. The company also completed the acquisition of Orrön Energy's Nordic renewable energy platform.
Why it matters
The combined company now holds 2.1 TWh of annual proportionate production across all Nordic price areas. Higher realized power prices compared with the same quarter last year contributed to the revenue increase.
Proportionate revenue more than doubled and EBITDA rose almost 5x year-over-year in Q3 2026, according to company-reported results. The source does not disclose absolute revenue or EBITDA values, so the scale of the gains cannot be fully measured.
The players
Cloudberry Clean Energy
A Norwegian renewable energy company that operates power production assets across the Nordic region and is developing new projects in Norway.
Orrön Energy
A renewable energy company whose Nordic platform was acquired by Cloudberry Clean Energy in Q3 2026.
Winn Eiendom
A Norwegian property developer that signed a powered land agreement with Cloudberry Clean Energy for a project in Selbu.
Siemens Gamesa
A wind turbine manufacturer and service provider that entered a new 10-year support agreement with Cloudberry Clean Energy at the Odal wind farm.
The details
Record production and higher realized power prices versus the same quarter last year drove the power-related revenue increase. The Orrön Energy acquisition was completed through the purchase of its Nordic renewable energy platform, and the company also commissioned three assets totaling 15 MW and reached a final investment decision on an 8 MW battery storage project.
Timeline
Q3 2026: Record production, revenue growth, and EBITDA increase reported
Q3 2026: Orrön Energy Nordic platform acquisition completed
Q3 2026: Selbu powered land agreement signed with Winn Eiendom
Market Landscape
Cloudberry's gains depend heavily on Nordic power price levels, which have historically driven earnings volatility for Norwegian hydropower and wind producers. The Orrön acquisition consolidates regional capacity, positioning the company to capture more of that price exposure across multiple Nordic price areas.
Investors tracking Nordic renewable energy stocks may see the acquisition and record quarterly results reflected in future earnings reports. Those holding exposure to Norwegian power producers should monitor how realized power prices affect proportionate revenue in coming quarters.
The takeaway
Record results at Cloudberry Clean Energy show how acquisitions and rising realized power prices can compound into outsized earnings growth. Investors should track whether these gains hold as Nordic price conditions shift.
Further reading
Explore more Corporate Finance coverage for context on how renewable energy acquisitions are reshaping company balance sheets.
Source note: This article includes information reported by Energy-pedia.
