The transaction includes a pipeline of photovoltaic projects in various stages of maturity. Vattenfall is thus expanding its project portfolio in the field of photovoltaics to now seven gigawatts. The first projects from the new portfolio could be ready for construction as early as 2024. If all the projects were implemented, they could arithmetically correspond to the annual consumption of two million average households in this country, the energy group explains. Vattenfall plans to invest around 3.5 billion euros in the further expansion of wind and solar by 2024.
See also: Statkraft wins bid for combined solar and battery project
Vattenfall has defined Germany as a core market for the expansion of photovoltaics. Under the given framework conditions in this country, large solar projects can be implemented without government subsidies. This is because there is more and more demand, especially from industrial and commercial companies. This is precisely why Vattenfall is buying the know-how of the solar project developer from Hamburg. (nhp/mfo)
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