Swedish state-owned utility Vattenfall AB has announced plans to develop 300 MW of battery storage alongside 500 MW of new solar capacity in Germany annually, recognizing the benefits of integrating these two technologies.
The company intends to make significant investments in large-scale battery operations over the coming years, focusing on both development initiatives and marketing electricity generated from battery storage.
Vattenfall's strategy is driven by the growing demand for power storage solutions. Currently, approximately 39% of electricity generation relies on weather-dependent sources, a figure projected to rise to 73% by 2035. This shift necessitates enhanced price stability and supply security, as highlighted by the firm.
Additionally, Vattenfall aims to leverage opportunities in the energy trading market by marketing electricity from large-scale batteries. The company plans to utilize its own storage systems, along with contracted battery resources, to achieve its goals.
In total, Vattenfall seeks to introduce up to 1.5 GW of large-scale battery capacity into the electricity market in the coming years.
The Federal Network Agency estimates that large-scale battery storage in Germany could reach an installed capacity of between 43 GW and 54 GW by 2045, a significant increase from the current capacity of 7 GW.
