Vattenfall to Invest €5 Billion in German Renewables by 2028

Vattenfall

Massive Investment in Renewable Energy

Swedish state-owned energy giant Vattenfall has unveiled ambitious plans to invest over €5 billion in Germany by 2028 as part of its commitment to the energy transition. The initiative underscores Germany's growing importance as a hub for renewable energy development.

Focus Areas: EV Infrastructure and Solar-Battery Integration

A significant portion of this investment, approximately €500 million, is earmarked for developing electric vehicle (EV) charging infrastructure across Germany. This aligns with the increasing demand for a robust EV ecosystem to support the shift towards carbon-neutral mobility.

Vattenfall also aims to expand its solar energy portfolio by building 500MW of solar parks annually. These parks will be coupled with 300MW of large-scale battery energy storage systems, ensuring grid stability and compensating for fluctuations in solar power generation.

Wind Power Expansion

The company's wind energy projects are equally impressive. Vattenfall is set to bring the Nordlicht 1 and 2 wind farms online by 2028, delivering a combined capacity of 1.6GW. Although Nordlicht 1's initial operational date was planned for 2027, it has been slightly delayed.

In its Q3 2024 financial results, Vattenfall highlighted that it had already added 1.3GW of new wind capacity over the past year, a testament to its leadership in renewable energy development.

A Step Towards Energy Transition

Vattenfall’s investment marks a pivotal step in Europe’s energy transition. By focusing on solar, wind, and EV infrastructure, the utility not only contributes to Germany's climate goals but also fortifies its position as a leader in sustainable energy solutions.