Coal giant Vattenfall creates solar plus storage business unit

Coal giant Vattenfall creates solar plus storage business unit

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Swedish power utility ramps renewable energy activity in recent weeks, spinning out a new photovoltaics & battery business unit from its business area wind.

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PV Magazine

Vattenfall, one of Europe’s leading producers of coal, has split its Business Area Wind division into three sub-groups – one of which will focus specifically on solar PV and storage.

Vattenfall has already developed a suite of solar parks in Europe, and now aims to do much more

The new Photovoltaics & Battery Business Unit was spun out of the Wind division on July 1, which is now also broken down into Offshore and Onshore divisions.

Following the creation of the new solar+storage division, Vattenfall announced that it is to invest €150 million in large-scale and decentralized solar PV and battery projects across Vattenfall’s chief European strongholds, namely Sweden, the U.K., the Netherlands, Germany, Denmark and France.

Head of Vattenfall Wind, Gunnar Groebler, said that the new organizations have been created to enable the utility to further reduce levelized costs of energy thanks to an increased focus on each power source that will help to reduce complexity.

“Vattenfall is already among the pioneering companies in terms of cost reductions in the offshore and onshore wind sector as it is our ambition to lead the industry into a profitable but also highly competitive future,” said Groebler.

The Vattenfall Wind leader added that the utility faces “a fast-changing business environment” in all markets, and believes that the creation of leaner divisions within the firm will augment its ability to meet the demands of each energy source.

Claus Wattendrup, who now heads up Vattenfall’s Photovoltaics & Batteries Business Unit, told pv magazine last month that the company aims to eventually become CO2-free, and sees solar+storage as a viable means to achieving that.

One proposed plan is to pair all of Vattenfall’s existing wind installations in Europe with solar PV+storage – a strategy that could potentially boost Vattenfall’s solar footprint by an initial 400 MW.

Source: PV Magazine. Reproduced with permission.

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1 Comment
  1. Jens Stubbe 4 years ago

    Vattenfall is not in coal longer than it has to be to wind up the business. Coal is not a part of the future for Vattenfall.

    They also own some nuclear power plants and that is definitively not part of the future either. What they do with considerable success is to develop offshore wind where they are number two in the world.

    Offshore wind is now cheaper than onshore and getting cheaper rapidly so that is the big future for RE in northern Europe where Vattenfall operates.

    Their major competitors are DONG, Innogy and EON but lately Shell has gotten involved with offshore wind and are allegedly interested in buying Adwen and have declared they are in the process of designing 10GW offshore wind farms. (The global total over 25 years offshore wind history is 13GW installed.)

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