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’s aim is to enable fossil-free living within one generation. The expansion of electricity generation from solar supports this goal. Helene Biström, senior VP 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.”
In recent years the cost of solar panels has dropped significantly, and they are now among the cheapest forms of electricity generation. Owing to decreasing costs and low CO2 emissions, volumes of solar panels will continue to grow in Vattenfall’s core markets. Large-scale solar farms are expected to play a pivotal role in transforming Europe’s energy system.
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