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 and the difference is due to partnerships, for example Nordlicht and Zeevonk wind power projects, as well as assumption of income from the divestment of certain onshore solar, battery and wind power projects developed for sale, such as Windplan Blauw. The amounts stated below refer to net investments.

Growth investments total SEK 104 billion with the largest share, SEK 72 billion corresponding to 69%, planned for investments in new wind power. Vattenfall will also invest in the development and expansion of the electricity grid and district heating system. Other growth investments mainly include charging infrastructure.

Total capex, bn SEK 2025–2029

Growth, 104bn SEK 61
Maintenance, 49bn SEK 29
Replacement, 17bn SEK 10

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
Hollandse Kust Zuid 1–42 Netherlands Wind offshore 1,509 MW 2024 2,600 MEUR
Vesterhav projects2 Denmark Wind offshore 344 MW 2024 657 MEUR
Bruzaholm2 Sweden Wind onshore 138 MW 2025 2,124 MSEK
Windplan Blauw2 Netherlands Wind onshore 77 MW 2024 213 MEUR
Tützpatz2 Germany Solar 76 MW 2024 57 MEUR
Battery Toledo2 Sweden Battery 55 MW 2024 43 MEUR
E-boiler Diemen Netherlands Electricity as fuel 150 MWth 2025 45 MEUR
E-mobility - Netto2 Germany E-mobility n/a 2025 68 MEUR
E-mobility - Bünting2 Germany E-mobility n/a 2024 50 MEUR

1 All numbers in the table reflect the status as per 31 December 2023.
2 The project is EU taxonomy eligible and aligned.

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