Vattenfall Expands Solar Development in Germany

Source Press Release
Company Vattenfall 
Tags Corporate Deals, Deals, Renewable Energy, Power
Date July 20, 2023

Vattenfall has acquired the German solar developer Solizer. The transaction includes an experienced team and a pipeline of large-scale solar projects in Germany with a volume of 4 GW. This acquisition expands  Vattenfall’s German solar development portfolio to 7 GW in total. The first projects from the new portfolio can be ready for construction as early as 2024. 

Vattenfall wants to enable fossil-free living within one generation. The expansion of electricity generation from solar supports this goal. Helene Biström, Senior Vice President and Head of Business Area Wind, stresses the importance of this acquisition: “Germany is a core market for  Vattenfall’s solar development. Solar is cost-competitive and can be built subsidy-free, which is important in meeting the rapidly increasing demand for low-cost solar power from customers. By adding Solizer's development projects and know-how to our portfolio we continue on our renewables growth path.”

Solar power plays an essential role in the energy system, from small household installations to large-scale projects. In recent years the cost of solar panels has dropped significantly, and they are now among the cheapest forms of electricity generation. Due to decreasing costs and low CO2 emissions, volumes of solar panels will continue to grow in Vattenfall’s core markets. Large-scale solar farms will play a pivotal role in transforming Europe’s energy system.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd