Total capex, bn SEK 2023-2024
| Growth, 50bn SEK | 50 |
| Maintenance, 16bn SEK | 16 |
| Replacement, 11bn SEK | 11 |
Investment plan 2023-2024
Vattenfall’s investment strategy reflects our goal of achieving fossil freedom.
Vattenfall has decided on an investment plan for 2023-2024 of net SEK 77 billion. Gross investments amount to SEK 87 billion and the difference is attributable to partnership for the wind power project Hollandse Kust Zuid 1-4 as well as assumptions related to income derived from divestment of certain onshore wind and solar projects, which are being developed for sale. The amounts stated below refer to net investments.
Growth investments total SEK 50 billion with the largest share, SEK 38 billion, corresponding to 76%, planned to be invested in wind power. Vattenfall will also invest in electricity grids and expansion of district heating operations. Other growth investments include charging infrastructure, solar and battery projects as well as heating and energy solutions.
Growth capex per technology, bn SEK 2023-2024
| Wind power, 38bn SEK | 37.8 |
| Heat supply, 6bn SEK | 5.6 |
| Electricity distribution, 3bn SEK | 2.9 |
| Other, 4bn SEK | 3.6 |
Major investment projects – decided on and in progress1
| Project | Country | Type | Capacity | Completion | Total investment |
| Hollandse Kust Zuid 1–42 | Netherlands | Wind offshore | 1,500 MW | 2023/24 | 2,600 MEUR |
| Vesterhav projects2 | Denmark | Wind offshore | 344 MW | 2023 | 770 MEUR |
| South Kyle2 | United Kingdom | Wind onshore | 240 MW | 2023 | 255 MGBP |
| Windplan Blauw2 | Netherlands | Wind onshore | 77 MW | 2023 | 185 MEUR |
| Heat storage Reuter2 | Germany | Heat storage | 2,750 MWh | 2023 | 50 MEUR |
| A16 Klaverspoor2 | Netherlands | Wind onshore | 34 MW | 2023 | 45 MEUR |
| E-boiler Diemen | Netherlands | Power-to-Heat | 150 MWth | 2024 | 45 MEUR |
| E-mobility - Netto | Germany | E-mobility | n/a | 2025 | 85 MEUR |
1 All numbers in the table reflect the status as per 31 December 2022.
2 The project is EU taxonomy-eligible and aligned.
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