Vattenfall set to invest in Large-scale Solar Power Generation

Vattenfall aims to invest SEK 1 billion (EUR 100 million) in large-scale solar energy generation over the next two years. In addition to that Vattenfall also provides small-scale solar solutions for customers.

The investments advocate Vattenfall’s focus on becoming fossil-free within a generation.  Solar farm will be at Parc Cynog Wales. In total there will be 5 Megawatts of solar panels close to the wind farm.

Vattenfall also plans to invest SEK 1 billion in developing new solar power plants, primarily during 2018-2019.

Magnus Hall, Vattenfall’s President and CEO said “Solar power is an important supplement to wind power as a renewable source of energy. 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.”

The main areas of Vattenfall’s investments iin solar power include :

1. Development of large-scale solar PV farms, in locations where Vattenfall can use existing infrastructure to reduce costs. The Parc Cynog wind farm in Wales is such an example of a combined wind and solar farm
2. Vattenfall is facilitating decentralised energy generation for both private customers and business customers. This will result in new energy services where Vattenfall provides solutions for our customers’ needs, enabling them to generate and consume their own solar PV electricity.

Vattenfall has applied for permits for several other solar farms which will be combined with wind farms. The combination of the two brings several synergies, like combined grid use and the benefits of good relations with the authorities, land owners and other stakeholders. Vattenfall is looking into upcoming possibilities for large-scale solar in other countries, for example the next auction rounds in Germany.