Vattenfall plans to make growth investments of SEK 28 billion (approximately € 2.9 billion), in the coming two years, most of which will be invested in renewable energy production. This is in line with the company’s strategy to create a sustainable production portfolio and offer climate-smart solutions with the goal of making the company and the entire chain from suppliers to customers fossil-free.
Vattenfall’s new investment plan for the period 2017–2018 reflects a distinct strategic shift, where most growth investments will be made in wind power, solar energy and electricity distribution. Total investments for the period will amount to SEK 50 billion (approximately € 5.2 billion), of which SEK 28 billion (approximately € 2.9 billion) pertain to growth investments. Of this total, planned investments in onshore and offshore wind power will amount to SEK 17 billion (approximately € 1.8 billion), with a tangible increase in investments in solar energy. A large step in the strategy to create a sustainable energy portfolio was taken with the divestment in 2016 of the lignite operations in Germany. Through this sale Vattenfall’s fossil-based production decreased from approximately 50% of total in 2015 to 25% in 2016. Parallel with this, the company’s CO2emissions decreased from 83.8 million tonnes to 23.7 million tonnes.
