Swedish power large Vattenfall plans to take a position greater than $5 billion in Germany to extend the corporate’s renewable power portfolio in that nation. Robert Zurawski, Vattenfall’s chief monetary officer in Germany, mentioned the group will construct extra wind and photo voltaic farms in Germany, together with EV charging stations, over the subsequent few years.
Zurawski on Nov. 11 mentioned Vattenfall desires so as to add about 500 MW of solar energy era capability yearly in Germany, and in addition add no less than 300 MW of battery power storage capability annually to 2028.
“Germany is the fastest-growing marketplace for renewable power in Europe,” mentioned Zurawski as he outlined the corporate’s deliberate €5 billion ($5.34 billion) funding. Demand for electrical energy in Germany is predicted to extend by 40% by 2030, with authorities officers anticipating a doubling of energy demand by 2045.
Offshore Wind Farms
Zurawski additionally mentioned Vattenfall’s deliberate offshore wind farms, Nordlicht I and II, will enter business operation by 2028. The 2 installations are anticipated to supply 1,600 MW of era capability.
Vattenfall at current operates two wind farms in Germany. “We see a variety of development alternatives right here for our rising enterprise in fossil-free era and power companies,” mentioned Zurawski. The CFO mentioned the corporate is targeted on electrical energy partnerships with industrial shoppers, notably these shifting away from fossil fuels.
“Electrical energy partnerships provide funding safety, steady costs and threat diversification for each producers and industrial shoppers of renewable electrical energy,” mentioned Zurawski. Vattenfall is also engaged on residential electrification, with the corporate saying it’s working with about 150 firms to put in warmth pumps, solar energy programs, and power storage in non-public properties. The corporate just lately acquired Berlin-based GeoSolar, a photo voltaic gear set up group.
—Darrell Proctor is a senior editor for POWER (@POWERmagazine).
