Investment plan 2022-2023
Vattenfall’s investment strategy reflects our goal to enable fossil-free living within one generation.
Vattenfall has decided on an investment plan for 2022-2023 of net SEK 55 billion. Gross investments amount to SEK 77 billion and the difference is attributable to partnership for the wind power project Hollandse Kust Zuid 1-4, assumptions for partnership for the Norfolk projects, 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 34 billion with the largest share, SEK 23 billion, corresponding to 67%, 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, heating and energy solutions, and the HYBRIT project.
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 | 2,600 MEUR |
| Vesterhav-projects2 | Denmark | Wind offshore | 344 MW | 2023 | 769 MEUR |
| South Kyle2 | United Kingdom | Wind onshore | 240 MW | 2023 | 254 MGBP |
| Uppsala Carpe Futurum2 | Sweden | Biofuel | 112 MWth | 2022 | 1,843 MSEK |
| Heat storage Reuter2 | Germany | Heat storage | 2,750 MWh | 2023 | 50 MEUR |
| A16 Klaverspoor2 | Netherlands | Wind onshore | 34 MW | 2022 | 46 MEUR |
| Nij Hiddum Houw2 | Netherlands | Wind onshore | 19 MW | 2022 | 30 MEUR |
| Heat transfer station Hakford2 | Netherlands | District heating infrastructure | n.a. | 2022 | 22 MEUR |
| Battery@Ray2 | United Kingdom | Battery | 20 MW | 2022 | 15 MEUR |
1 All numbers in the table reflect the status as per 31 December 2021.
2 The project is taxonomy-eligible.
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