155 Cloudberry Annual report 2021 Financial statements Kafjärden On 4 February Cloudberry Clean Energy ASA signed the acquisition of the project Kafjärden with related assets. Kafjärden is an onshore wind power project in SE3 area in Sweden. The project has a construction permit for 18-40 MW and parts of the infrastructure is already in place, including roads, crane pads, foundation and power grid. The project is planned to be completed by end of 2023. The acquisition will be accounted as an asset acquisition. Russia invades Ukraine On 24 February 2022 Russia attacked Ukraine in a military invasion. As of the date of this report the war is ongoing. Russia, as the largest exporter of natural gas to Europe, has since been the subject of heavy sanctions and it may seem as the western countries will plan to cut all import of Russian gas as soon as possible. The result has been record-high gas and power prices in the first quarter and on the front of the price curve. The market is heavily influenced by the war, and it may cause long term effects and changes to the European energy markets.
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