Connect with us

Hi, what are you looking for?

CleanTechnica
Swedish power company Vattenfall, known most recently for its wind energy development, has announced that it plans to invest €100 million in large-scale solar energy generation over the next two years, as part of the company's plans to become fossil free within a generation.

Clean Power

Vattenfall Plans €100 Million Investment In Large-Scale Solar

Swedish power company Vattenfall, known most recently for its wind energy development, has announced that it plans to invest €100 million in large-scale solar energy generation over the next two years, as part of the company’s plans to become fossil free within a generation.

Swedish power company Vattenfall, known most recently for its wind energy development, has announced that it plans to invest €100 million in large-scale solar energy generation over the next two years, as part of the company’s plans to become fossil free within a generation.

Announced last week, Vattenfall revealed plans to invest 1 billion Swedish krona (SEK), or €100 million, in large-scale solar energy generation over the next two years — specifically in areas where Vattenfall can use existing infrastructure to reduce the overall cost of a project.

Parc Cynog

This is not a surprising move, considering a July 2017 announcement that it would begin moving into the solar PV + storage market. The move split its previous Business Area Wind unit into three separate Business Units — Offshore Wind, Onshore Wind, and Photovoltaic & Battery.

“Already early this year, we have taken a decision to adjust our ways of working towards the anticipated market developments,” explained Gunnar Groebler, Head of Vattenfall Wind at the time. “With the “go live” of the new structure, we again put more focus on profitable growth in the renewable space and hence supporting Vattenfall’s overall ambition to power climate smarter living and becoming CO2 free in just one generation.”

Vattenfall already has the 5 megawatt (MW) Parc Cynog solar farm in Wales, paired with its wind farm. The company has also already finalized investment decisions for three large-scale solar projects at existing plants in Velsen, Hemweg, and Eemshaven in the Netherlands which, in total, will have a capacity of 10.5 MW. Vattenfall also has planned investments in the Netherlands this year, including the Haringvliet solar farm which will have a total capacity of 40 MW and will be combined with the nearby Haringvliet wind farm.

“Solar power is an important supplement to wind power as a renewable source of energy,” said Magnus Hall, Vattenfall’s President and CEO. “We are now increasing the investment budget for solar power to satisfy our customers’ increased interest and demand. From electricity consumers, who can obtain electricity from our future solar farms, but also from potential customers, who want to both consume and generate electricity from solar power.”

 
 
 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Comments

You May Also Like

Clean Transport

Vattenfall, one of Europe’s largest producers and retailers of electricity and heat, has delivered 32 fast chargers to Tide Bus in Denmark’s fifth-largest city,...

Clean Power

As the Russian Baltic Fleet rattles its sword, renewable energy stakeholders in Sweden and elsewhere are eyeballing Baltic Sea offshore wind for a foothold...

Clean Power

Modvion is building wooden towers for wind turbines, and the leading forest products firm Stora Enso is among those lending a hand.

Buildings

A new air-to-air, high temperature heat pump adds more fuel to the climate action fire by replacing natural gas boilers on a drop-in basis.

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.