Renewable energy
Vattenfall is planning to invest billions in Germany
Vattenfall sees Germany as the fastest growing market for renewable energies – and wants to shape it. The energy company plans to invest five billion euros by 2028.
The Swedish energy group Vattenfall wants to invest more than five billion euros in the renewable energy business in Germany by 2028. “Germany is the fastest growing market for renewable energies in Europe,” said Robert Zurawski, Vattenfall’s chief financial officer responsible for the country. Electricity demand in this country is expected to increase by 40 percent by 2030 and could double by 2045. “We see diverse growth opportunities here for our growing business from fossil-free generation and energy services.”
On the one hand, the group wants to promote the expansion of fossil-free energy generation and storage capacities. Every year Vattenfall will build solar parks with an output of 500 megawatts and large batteries with a capacity of 300 megawatts. “And only in combination of both technologies in order to adapt the fluctuating solar production to the electricity consumption of consumers,” it said.
Swedes want more electricity partnerships with industrial customers
Vattenfall also referred to the Nordlicht 1 and 2 offshore wind farms being built in the North Sea, which are scheduled to go online with a capacity of 1.6 gigawatts by 2028.
In the supply market, the group will be relying on more electricity partnerships with industrial customers who increasingly have to switch their energy supply to green electricity. As an example, the company referred to contracts that have already been concluded with the steel producer Salzgitter AG and the chemical company Evonik. “Electricity partnerships offer both producers and industrial consumers of renewable electricity investment security, stable prices and risk diversification,” emphasized Zurawski.
The group is also expanding its private customer business and will focus more on advice and on-site installation in the future. Vattenfall says it is now cooperating with around 150 local craft companies for the installation of heat pumps, photovoltaic systems or electricity storage systems in private homes. Only recently in Berlin the Swedes announced the purchase of the Geosolar craft business with around 90 employees.
dpa
Source: Stern
