Swedish utility Vattenfall this week said it has split its wind business into three units comprising offshore, onshore and solar+storage services.
“An important new pillar of Vattenfalls renewable strategy is the formation of the Business Unit Photovoltaics & Battery,” Gunnar Groebler, head of Vattenfall Wind, said in a July 3 statement. “In the upcoming two years Vattenfall plans to invest up to EUR 150 million (US$170 million) in large scale as well as decentralized PV and battery projects. This underlines our strong ambition to reshape Vattenfall’s overall production portfolio and to broaden into a market with significant future growth rates.”
The utility said that the new organization, designed along the respective value chains, will enable the business units to reduce levelized costs of energy due to increased focus and reduced complexity.
“With the creation of a lean business model with product lines in order to create dedicated end-to-end-processes and business that can respond to different markets, we take the logical next step to fulfil our ambitious targets,” Groebler said.
Lead image: Ormonde offshore wind farm 27. Credit: Vattenfall