Swedish Energy Giant Vattenfall To Invest Over EUR 5 Billion In Germany’s Clean Energy Future

Vattenfall, a leading Swedish energy company, has unveiled plans to invest over EUR 5 billion by 2028 into clean energy projects in Germany. The company is focusing on renewable energy, electric mobility, and other sustainable initiatives to support Germany’s transition to a greener energy future. This move comes at a time when Germany is rapidly increasing its demand for clean energy, with forecasts predicting a 40% rise in energy demand by 2030, potentially doubling by 2045.

According to Robert Zurawski, Vattenfall’s CFO for Germany, the company sees significant growth potential in expanding fossil-free energy production in the country. As part of its investment strategy, Vattenfall plans to develop large-scale renewable energy projects, including 500 megawatts of solar parks and 300 megawatts of battery storage facilities each year. Additionally, the company is moving forward with its offshore wind farm projects, Nordlicht 1 and 2, which will have a combined capacity of 1.6 gigawatts and are scheduled to be operational by 2028.

Vattenfall’s commitment also extends to the development of pumped storage hydroelectric plants and the expansion of electric vehicle charging infrastructure across the country. The company aims to form long-term electricity partnerships with industrial companies in Germany to ensure stable prices and secure, renewable energy supplies. This initiative is expected to provide investment security for producers and industrial consumers, further promoting the adoption of renewable energy.

Germany’s efforts to decarbonize and build a sustainable future are set to be accelerated by Vattenfall’s substantial investments. Robert Hermann, CEO of Germany Trade & Invest, highlighted that this investment signals strong business opportunities and reaffirms Germany’s commitment to providing secure, clean energy for industrial businesses.