Sweden's Vattenfall plans to invest €5 billion ($5.34 billion) in climate-friendly energy projects across Germany in the coming years, aiming to significantly expand its green energy footprint.
German CFO Robert Zurawski stated on Monday that the funds will be allocated towards charging stations, as well as solar and wind parks, with the goal of completing these projects by 2028.
“Germany is the fastest-growing market for renewable energy in Europe,” Zurawski said, underlining Vattenfall's commitment to supporting the country's energy transition.
As part of its strategic investment, Vattenfall plans to increase its solar park capacity in Germany to about 500 megawatts annually.
Additionally, the company is expanding its large-scale battery storage capacity to 300 megawatts per year to help stabilize electricity supply and offset the intermittency of solar power.
In the offshore sector, Vattenfall's planned wind projects, Nordlicht I and II, are expected to go online by 2028. With a combined capacity of 1.6 gigawatts, these wind farms will be able to generate enough power to supply over 1.7 million German households.
Vattenfall already operates two wind farms in Germany, and this new investment reinforces the company's commitment to boosting renewable energy in one of Europe's most dynamic energy markets.
