Good morning, welcome to this first half year 2021 presentation from Cloudberry. This is our first presentation as a listed company on Oslo Børs, a fully regulated markets. We have had an exciting year so far. We have reached all our goals, and we have also been able to attract new investors and develop our sustainable local platform. We have prepared a presentation for you that we will go through, and we have also opened up for Q&A session. Together with me today, I have our CVO, Christian Helland, and our Head of Sustainability, Suna Alkan. The agenda today is present here with an overview of Cloudberry, and then we will move on to have a run-through of the project status and the key financials. Before we dive into the details, I would like to give you a introduction to Cloudberry. Cloudberry is a Nordic independent power producer.
We develop and operate renewable assets in the Nordics. We believe in developing in-house projects from the very beginning until they are in production. We have two segments in Cloudberry. We have the development segment that develops projects, and we have the production company, where we keep the producing assets that generates long-term cash flow to the company. We have also a solid development track record, developing projects over the last 10 years. With listing on the Oslo Stock Exchange main board, we have established our scalable Nordic renewable platform. This is Cloudberry today. We have a producing portfolio of 26 power plants. 21 of them are now in production as we speak, and five are under construction and in production next year. With all these 26 assets in production, we will reach a producing capacity of about 140 MW.
We have also a backlog of exclusive projects that we are developing through permit, and to construction and production. This backlog is exclusive, and as many will see, we have been able to move projects from the backlog through to getting a permit, and now in construction or production. One example we will give you later when we go into details on the whole project. In addition to this, we have also a shallow water offshore pipeline of projects that we are currently working on, and we have strengthened our development team to be able to both focus on the onshore development, but also on the offshore development of projects. A little bit about the highlights of the last year. As you can see, we have significantly ramped up our production. 12 months ago, we had a producing assets of 3 MW.
Today, we have 53 MW in production. Next year we will have almost 140 MW. These are all projects that we have in construction or production as we speak. We have been able to deliver on plan, both when it comes to the both hydropower projects that are now in production, but also so far our projects under construction are developing according to plan. That is the Odal wind and the Hån wind farm projects and Åmotsfoss hydropower plant. At the same time, we have been able to strengthen our balance sheet and attracted value-focused ESG investors. I will now take you through some of our projects and comment shortly on each of them. We have had two hydropower projects in the portfolio since 2019. That is Nessakraft and Bjørgelva. We have been able to put them in production.
They came in production after a commissioning period and started to generate income to Cloudberry in July this year. They will keep on generating income over the next 60 years. We expect equity IRR on the estimated to 8% on these projects. Moving on to our wind development in Odal in Norway. This is our largest project, where we have increased our ownership from 15% to 33.4% this summer. The project is developing according to plan so far, and we have estimated the commercial operation date in the first half year 2022. This project is all together with the local KLP pension fund and the local utility, Akershus Energi. Then we have our own in-house developed project, Hån. Hån is add-on to Marker wind farm, which we developed in 2019 and sold to BKW, a Swiss utility. We have this July started to construct the Hån wind farm.
We have estimated equity IRR on this on or about 12%, and we have a plan for production start at end of 2022, and the production from these five Vestas turbines will be approximately 74 GWh. I now hand over word to our Head of Sustainability, Suna Alkan, that will take us through the ESG slides. Thank you.
Thank you, Anders. Our construction activities on projects are visible in the areas we operate, and we always look for ways to minimize the environmental footprint. ESG is top priority through the value chain on all projects, and today we would like to give some examples on ESG in practice from the Hån wind farm project. We expect Hån wind farm to be a low impact project with less life cycle emissions. We reduce the amount of concrete with rock anchored foundation, and with five efficient turbines instead of seven, it contributes to a lower carbon footprint. For instance, with lower towers and use of less steel. We're using existing infrastructure such as rig sites, parking lots, and roads that are already in place. We're also utilizing local grid for temporary site offices, and we're avoiding diesel generators.
Cloudberry requires contractors to comply with our health and safety routines and manage framework, and holds weekly meetings with the contractors on site home to secure health and safety management. Local value creation is an important priority for Cloudberry in all our developing and producing projects. At Hån, we're using local suppliers and contractors and have established a suppliers database for local and regional suppliers to register. The roads, which basically are intended for power cables, Cloudberry collaborates with the municipality to develop a cycle path cross border between Norway and Sweden. The road will also provide landowners with easier access to their forests, and thus improve their forest management. An ESG due diligence at the Hån project was an integrated part prior to the final investment decision.
The due diligence guidance and guideline takes into account a selection of ESG aspects that may have material impact, both positive and negative. At all Cloudberry's projects, as well as at Hån, we are engaged and responsible for the impact we cause during the construction phase. We always seek to bring nature back to its original condition as far as possible. As for sustainability management in a larger perspective, we would like to give you a brief insight on our sustainability work this first half year. We've spent much time communicating with, and received great attention from, value-focused ESG investors. Cloudberry has taken several steps on integrating ESG principles throughout the organization, and we constantly work on developing Cloudberry and our projects according to the highest ESG standards.
During first half year, Cloudberry has implemented a standardized process for an annual assessment of climate related financial risks and their integration into the company's overall risk management. Cloudberry is carrying out a life cycle assessment of greenhouse gas emissions for the company's hydro and wind power plants, and our assets are within the life cycle emissions according to the EU taxonomy thresholds. We have improved the company's routines and policies with regards to health and safety. This topic will also be addressed in the suppliers code of conduct. Focusing on gender equality and diversity is a part of the company policy. As already mentioned, local value creation is top priority for Cloudberry, and we believe the listing on Oslo Børs to be a sustainable finance activity. It makes investment in renewable energy accessible to all stakeholders and increase the availability to capital from a broader universe of investors.
We utilize best available technology in order to lower our carbon footprint and support EU's goal towards 2030, and to secure the company's profitability and financial position. This year, Cloudberry is implementing its ESG goals and KPIs on identified material aspects. We have implemented our code of conduct within the organization and have developed ESG due diligence assessment as a part of investment processes. Cloudberry's ESG committee is established and has had meetings during the first half year. Also, the management has established frequent ESG meetings to ensure alignment with the company's sustainability strategy. Now I will leave the word to our Chief Value Officer, Christian.
Thank you, Iselin. Hi, everyone. Just to summarize the financials. For us, the first half year has been very good. We've been ramping up the full production pipeline. Also to just give you an overview how the revenue keeps coming in. As you see, Finsetbekken, Røymyr and Forte, and Selselva was producing first half year. Nessakraft, Bjørgelva and Usma came on stream now this summer. Åmotsfoss, Ramsliåna and Skåråna is coming on stream later this year. We expect our largest project, Odal, and also Hån, to come on stream in 2022. This shows that we've been through now a significant ramp-up. We've been very pleased with the development. The project has been on time, on budget, and we're very satisfied that we as a lean and local organization have been able to deliver on some relatively complex local projects.
The report is understood from two segments. We're ramping up the production segment. We're starting to see the revenue coming in there. Again, going from NOK 2 million last year to NOK 18 million this year and expecting significantly pick up now in H2 and in 2022. We also see that the EBITDA is becoming positive on the production segment. On the development segment, we have focused on keeping the project in-house. As you know, our strategy is we can both sell and keep. Since we strengthened the balance sheet and had a lot of focus on the balance sheet the first half of 2021, we have decided to now construct Hån ourselves, and we're also preparing for Duvhällen. We've not sold any projects externally. We have decided to keep them in, and in that kind of sense, have cash flow for the next 30 years in these projects.
We've also done a provisional Marker, the final settlement with the local contractor there, and we received NOK 5 million, and we have set aside NOK 10 million. We hope the net effect will be less than NOK 5 million in total. We had an operating profit of -NOK 24 million for the year. This is obviously something we're planning to improve. We have had some significant costs on the listing side. We've been very pleased with the process. We've done a lot of work with listing on the main list, and also, as you see, the Marker settlement. One-off, so about NOK 14 million, and now we see the significant ramp-up coming in our production segment. We had some lower water in our rivers, so normalized, we believe that our production will be a little bit higher.
Slow start of the year with a little less water in the rivers have also lowered our volumes. On the other hand, the power prices are picking up and have become very strong the later part of this year. I would also like to mention, we report on two things, the consolidated financials, the IFRS, and also the proportionate. We're able to show you our largest investments, both in Forte and Odal, where we are 34% owners. Focus for us this first half year has been building a robust balance sheet so we can build and continue to develop our in-house projects and also be leaning forward in the M&A market. As you see, a significant ramp-up in total assets. This is showing end of December, so the last six months. Also significant increase in the equity.
We have raised capital and also we have repaid debt. We have a very low interest-bearing debt rate and obviously no net debt. It's a very strong balance sheet for further growth and fully financed for all our 119 megawatts of projects that we have in-house, and most under construction and some, Duvhällen, coming on hopefully next year. We have also secured a NOK 700 million debt facility in SR Bank, giving us flexibility on the debt side when we're growing. As mentioned in the yearly report, we're doing the same, focusing, we're going to be local. We focus on our in-house organic development. We have also employed two new employees there in Karlstad and one here in Oslo, we can take the local position and increase our backlog and the in-house development projects that we believe are highly profitable for us over time.
Hån is a typical example of this, where we did the feed and started the construction already in June and secured the contracts there with Vestas. We have the local and active M&A. Usma is a very good example of this, where we in Trøndelag now acquired a very well-run hydro plant, a new plant, which we believe also have upside potential with possible storage in the future. We have the strategic initiatives. Odal is a typical example of this, where we, with KLP and Akershus, have now 1/3 ownership and believe this is very good power to deliver to Oslo. Green renewable power directly to the NO1, the Oslo region. Yes, Anders, time is running. Maybe a short sum-up from you.
Thank you, Christian. As mentioned, we have been delivering all our goals so far, and we are very happy to see that our scalable Nordic renewable platform is listed on a fully regulated market. That's something that we have been working with over the last year. In addition to that, we see that all our projects has developed according to plan, and that has been a challenge in these COVID-19 times. We are very pleased that we have been able to, so far, progress with all our projects. In parallel, we have also been able to build this robust balance sheet and attracted several new international ESG-focused investors. So far, we also see that the Nordic market is active. We have opportunities in all the Nordic countries that we are looking at.
We are currently in Norway and Sweden. We also see opportunities in the other Nordic countries. In general, I would say that the framework, the overall regulatory framework and focus on the energy transition is very positive for Cloudberry. We see initiatives such as Fit for 55 from the EU. Also initiatives in the Nordic market supporting the Cloudberry business. We are looking forward to take part in that energy transition and being one who is able to power also this transition. What we see is that the focus on the renewable projects is putting a pressure on the commodity prices and also on the supply side. That is something that we have to work with over the next years.
At the same time, we also see that the Nordic prices has picked up significantly over the last 12 months, and also looking forward, the power prices looks strong. All in all, we are very positive to the market and to the project that we are currently working on. Thank you so much for attending and have a nice day. Thank you.