Vattenfall is to invest around €100 million in large-scale solar energy over the next two years as part of its plans to become fossil fuel-free.
The utility giant says that it is increasing its investment budget for solar energy to satisfy its customers’ increased interest in the technology and because solar energy will complement its existing wind energy portfolio.
It added that it will focus on two main areas for investment: utility-scale solar farms and implementing decentralised solutions for residential and business customers. The latter strategy will result in the creation of new energy services for customers that want to become prosumers, i.e., a generator and consumer of energy.
In the large-scale solar sector, Vattenfall says it will investigate the possibility of using sites where existing infrastructure can be used to help it reduce costs. Vattenfall has already started operating a 5 MW solar farm at the Parc Cynog wind farm in Wales. It says it has also applied for permites for “several” other solar farms at wind farm sites.
Vattenfall recently took an investment decision on the construction of three solar farms in the Netherlands totalling 10.5 MW of capacity. It is also planning further solar energy investments in the Netherlands, including the 40 MW facility at Haringvliet.