Energy
November 11, 2024
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Vattenfall to Invest €5bn in Germany’s Clean Energy Market

Swedish energy company Vattenfall announced plans to invest €5 billion in Germany’s renewable energy sector by 2028. The investment aims to boost Germany’s infrastructure for solar parks, wind farms, and battery storage, further cementing the country’s role as a leader in the European clean energy transition.
Vattenfall to Invest €5bn in Germany’s Clean Energy Market
Vattenfall headquarters in Solna, Sweden - Arild Vågen (CC BY-SA 4.0)

Swedish energy firm Vattenfall has committed to investing €5 billion in Germany’s clean energy market over the next few years, focusing on building charging stations, wind farms, and solar parks across the country. The company's German finance chief, Robert Zurawski, emphasized that Germany has emerged as the fastest-growing market for renewable energy in Europe.

The funds are set to expand Vattenfall's capacity in solar energy and battery storage significantly. Vattenfall aims to reach a solar park capacity of approximately 500 megawatts annually in Germany. Additionally, it plans to scale up its large-scale battery storage facilities to 300 megawatts annually, supporting energy reliability even during times of variable solar output.

As part of this expansion, Vattenfall’s planned offshore wind farms, Nordlicht I and II, are expected to be operational by 2028. Together, these projects will generate a total of 1.6 gigawatts, producing enough electricity to meet the yearly needs of over 1.7 million German households.

With existing wind farms already operating in Germany, Vattenfall’s strategic investment reflects its commitment to supporting Germany’s renewable energy goals, a pivotal move in Europe’s shift toward sustainable energy.

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