Total capex, bn SEK 2025–2029
| Growth, 104bn SEK | 61 |
| Maintenance, 49bn SEK | 29 |
| Replacement, 17bn SEK | 10 |
Investment plan
Vattenfall’s investment strategy reflects our goal of achieving fossil freedom.
Vattenfall has decided on an investment plan for 2025–2029 amounting to SEK 170 billion. Gross investments amount to SEK 236 billion. The difference is mainly due to partnering related to offshore projects, namely the Nordlicht projects in Germany and Zeevonk in the Netherlands, as well as develop-to-sell assumptions for onshore wind, mainly Windplan Blauw and Clashindarroch II, and solar projects. The amounts stated below refer to net investments.
Growth investments total SEK 104 billion with the largest share, around SEK 72 billion, planned for investments in new wind power. Vattenfall will also invest in the development and expansion of electricity grids and district heating. Other growth investments mainly include charging infrastructure.
Total capex per technology bn SEK, 2025–2029
| Wind power, 77bn SEK | 77 |
| Electricity distribution, 41bn SEK | 41 |
| Heat supply, 16bn SEK | 16 |
| Hydro power, 11bn SEK | 11 |
| Nuclear power, 6bn SEK | 6 |
| Other, 19bn SEK | 19 |
Total capex per country bn SEK, 2025–2029
| Sweden, 80bn SEK | 80 |
| The Netherlands, 44bn SEK | 44 |
| Germany, 37bn SEK | 37 |
| United Kingdom, 6bn SEK | 6 |
| Denmark, 2bn SEK | 2 |
| Other, 1bn SEK | 1 |
Growth capex per technology bn SEK, 2025–2029
| Wind power, 72bn SEK | 72 |
| Electricity distribution, 13bn SEK | 13 |
| Heat supply, 10bn SEK | 10 |
| Other, 9bn SEK | 9 |
Growth capex per country bn SEK, 2025–2029
| The Netherlands, 38bn SEK | 38 |
| Germany, 33bn SEK | 33 |
| Sweden, 28bn SEK | 28 |
| United Kingdom, 4bn SEK | 4 |
| Denmark, 1bn SEK | 1 |
Major investment projects – decided on and in progress1
| Project | Country | Type | Capacity | Completion | Total investment |
| Bruzaholm2 | Sweden | Wind onshore/battery | 139 MW | 2025 | 2,360 MSEK |
| Velinga2 | Sweden | Wind onshore | 67 MW | 2025 | 1,182 MEUR |
| Battery Toledo2 | Sweden | Battery | 55 MW | 2025 | 43 MEUR |
| Nauen2 | Germany | Solar | 46 MW | 2025 | 25 MEUR |
| E-boiler Diemen | Netherlands | Electricity as fuel | 150 MWth | 2025 | 45 MEUR |
| E-mobility - Netto2 | Germany | E-mobility | n/a | 2025 | 86 MEUR |
| E-mobility - Bünting2 | Germany | E-mobility | n/a | 2024 | 56 MEUR |
1 All numbers in the table reflect the status as per 31 December 2024.
2 The project is EU taxonomy eligible and aligned.
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