Vattenfall invests 5 billion euros in Germany’s clean energy market

Vattenfall, a Swedish energy company, wants to invest in Germany five billion euros ($5.34billion) in climate-friendly products over the next few years.

Robert Zurawski, German Finance Chief, said that the company plans to use the money to build wind and solar farms in the country as well as charging stations by 2028.

He said that Germany is the fastest growing market in Europe for renewable energy.

Zurawski stated that Vattenfall aims to increase the capacity of its large-scale batteries storage business, as well as its solar park in Germany, to 500 megawatts a year.

He said that the combination between both technologies will ensure that electricity demand can be met by consumers despite fluctuations in solar production.

Zurawski stated that Vattenfall plans to have its offshore wind farms Nordlicht I and II operational by 2028.

These projects could produce enough electricity for more than 1,7 million German households.

Vattenfall operates two wind farms already in Germany.

(source: Reuters)