Increase renewables

Development of renewable power generation is the key to reducing CO2 emissions and achieving a sustainable energy system. 

Our strategy

Our targets

Developments in 2017

Challenges we have

Our planned activities

Our strategy

We want to be a leader in the development, construction and operation of wind power, and we have set a target to operate 4 GW of wind power by 2020. We now have a strong number two position in offshore wind power worldwide and are one of the top three companies in onshore wind power in Denmark and the Netherlands. Vattenfall operates 1,070 wind turbines with total installed capacity of 2.75 GW at 46 onshore and 11 offshore wind farms. Given our expertise in constructing and operating on- and offshore wind farms, we believe partnerships will provide attractive opportunities to fulfil our commitment to further growth in wind power. The coming years Vattenfall invests around 5 billion EURO.

We continue to explore new opportunities in solar energy (PV) technology and battery storage. For example, by integrating PV with wind farms we can keep costs down and minimise the environmental impact by taking advantage of existing infrastructure. We plan to build additional solar farms in our efforts to further diversify our portfolio.
Solar energy at Vattenfall

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Our targets

  • Reduce annual CO2 exposure to 21 million tonnes.
  • Commissioned renewables capacity: ≥2,300 MW

Developments in 2017

  • 2017 was a very successful year for Vattenfall's Wind business. Net sales and the underlying operating profit for 2017 increased compared with 2016 as a result of new added capacity. Electricity generation increased by 1.7 TWh in 2017, of which 1.6 TWh was attributable to new capacity.
  • During the year we began development work as well as the tendering process for the Vesterhav Syd and Nord near shore wind farms (344 MW) and the Kriegers Flak offshore wind farm (602 MW) in Denmark.
  • We continued construction work on the European Offshore Wind Deployment Centre in Aberdeen, the largest offshore wind test and demonstration facility in Scotland. Supported by up to EUR 40 million in EU funding, the 11-turbine wind farm (92 MW) will test new technologies.
  • We will continue to develop our onshore wind project pipelines in our core markets. Solar power and batteries will increase in the coming years, and we have already begun construction of three battery projects.

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Challenges we have

  • Low prices for CO2 emission allowances encourage the use of solid fossil fuels over gas and biomass.
  • Finding financing solutions which, despite a scaled-back investment framework, enable a high pace of growth in investments in wind power.

Our planned activities

In order to reach the target of reducing the company's CO2 exposure to 21 million tonnes and transform to more renewable production, Vattenfall has divested the lignite operations in Germany.

Vattenfall is also inviting in other investors in an effort to maintain a high pace of growth in renewable electricity generation, particularly in wind power.

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Last updated: 2018-04-19 15:46