133 Cloudberry Annual report 2021 Financial statements NOK 1 000 Producing power plants Power plant under construction Equipment Right to use - lease asset Total Accumulated cost 1.1.2020 - - 21 - 21 Additions from business combinations during the year 58 476 3 167 2 098 - 63 741 Additions during the year - 2 842 25 5 149 8 016 Transfer between groups - - - - - Transfer from inventory - - - - - Cost of disposed assets - - - - - Effects of movement in foreign exchange - - - - - Accumulated cost at 31.12.2020 58 476 6 008 2 144 5 149 71 778 Accumulated depreciations and impairment losses at 1.1.2020 - - 10 - 10 Accumulated depreciations acquired assets during the year 8 743 - 1 310 - 10 053 Depreciations for the year 2 225 - 206 858 3 289 Impairment losses - - - - - Accomulated depreciations and impairment losses disposed assets - - - - - Effects of movements in foreigs exchange - - - - - Accumulated depreciations and impairment losses at 31.12.2020 10 968 - 1 526 858 13 352 Carrying amount at 31.12.2020 47 508 6 008 618 4 291 58 426 Carrying amount beginning of period - - 11 - 11 Estimated useful life (years) 25-50 5-10 5 Please see note 18 Inventory for information about projects with construction permit and backlog. Right to use lease assets include office lease and fixed amount fall lease on power plants. For further details about lease, please see note 2 and 25 Lease agreements. During 2021 The Group has acquired Selselva Kraft, Nessakraft, Bjørgelva Kraft, and Usma Kraft and Åmotsfoss Kraft, which are all producing power plants and included in the balance sheet. Other producing power plants are Røyrmyra and Finnesetbekken. The 14 producing hydro power plants included in the Forte portfolio are equity consolidated and hence not included in the table, see further information in note 20 Investment in associated companies. Power plants under construction include projects with construction permit and where final investment decision (FID) has been made. Per 31 December the carrying amount includes Skåråna Kraft, a hydro powerplant under construction acquired in 2021 and Hån wind farm, which is an inhouse development project where Cloudberry made a final investment decision in June 2021. In some cases, Cloudberry has acquired a completed and commissioned power producing plant, but which is currently under construction by a third party. In those cases, the risk and control of the power plant assets is transferred to Cloudberry and included in the accounts when the power plant is ready to produce. Included in power plants under construction are Cloudberry’s costs related to the acquisitions of these plants (the acquisition price will be transferred to Cloudberry’s accounts when the plant is ready to produce). Per 31 December some minor inhouse costs related to the expected acquisition of Ramsliåna in included. The investment in Odal Vind AS which is under construction is equity consolidated and hence not included in the table, see further information in note 20 Investment in associated companies.
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