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Vattenfall to invest €1.78bn in wind

By: Tom Russell 29/03/2017 4C Offshore

General Turbines Windfarms

Vattenfall plans to make growth investments of SEK 28bn (€2.93bn) in the coming two years, most of which will be invested in wind power, solar energy and electricity distribution.

Planned investments in onshore and offshore wind power will amount to SEK 17bn (€1.78bn), with a tangible increase in investments in solar energy.

This is in line with the company’s strategy to create a sustainable production portfolio and offer climate-smart solutions with the goal of making the company and the entire chain from suppliers to customers fossil-free.

“A more sustainable energy system is currently being created as the electricity market continues its shift towards fossil-free generation. This system is closer to customers and combines efficient, large-scale production with decentralised solutions. Today we are exceptionally well positioned to develop Vattenfall’s business in line with these trends,” comments Magnus Hall, President and CEO of Vattenfall.

Vattenfall is a Swedish, state owned energy company with around 20,000 employees with operations in Sweden, Germany, the Netherlands, Denmark, UK and Finland. The company owns and operated numerous wind farms and is currently developing the Norfolk Vanguard and Norfolk Boreas offshore wind farms located off the UK's east coast, each with the potential to host an array with a capacity of 1.8GW. The projects are in the early stages of development and it is anticipated that construction consent applications for the projects are to be submitted in 2018 and 2019 respectively.

At the end of 2016 Vattenfall and the Danish minister for Energy, Utilities and Climate Lars Chr. Lilleholt signed the concession agreements for the offshore wind farm Kriegers Flak and the near shore wind farms Vesterhav Nord and Vesterhav Syd. Vattenfall won the Danish near-shore wind tender for Vesterhav Nord and Vesterhav Syd back in September with a bid of 0.475 DKK/kWh. The two sites are located on the west coast of Jutland and will have a total capacity of 350MW.

For more information about Vattenfall and its offshore wind activities please follow the links provided.

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Vattenfall to invest €1.78bn in wind

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