Vattenfall will invest €100 million in large-scale solar energy generation over the next two years.
“We are now increasing the investment budget for solar power to satisfy our customers’ increased interest and demand,” said Magnus Hall, President and CEO of Vattenfall.
“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.”
Vattenfall will focus on two main areas with its solar power investment. The first of which sees the development of large-scale solar PV farms in locations where the Swedish power company can use existing infrastructure to reduce costs.
The second key area will be to decentralise energy generation for both private customers and business customers. Vattenfall said this will result in new energy services where customers can generate and consumer their own solar PV electricity.