Tag: Vattenfall

The work is already in full swing in Korsnäs off the west coast of Finland where one of the most significant industrial projects in the country is in progress. To achieve carbon neutrality by 2035 and to enhance Finland’s energy self-sufficiency, more electricity from renewable sources is needed. “Wind power, being a crucial energy source for decarbonisation, makes the Korsnäs project a vital contributor to this transition,” says Klaus Nissen, Project Director at Vattenfall. “Once completed, it will produce fossil-free electricity for over two million apartments or 350,000 electrically heated…

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Wind and solar power are the fastest-growing energy sources in the world today, thanks to their low climate impact and high cost-efficiency. But as electricity production from weather-dependent energy increases, it also makes it harder for the supply system to maintain balance and stability.  Now Vattenfall has developed smart technology which solves many of these problems. In so-called hybrid power farms, different types of energy are combined and controlled in a way that brings out the best from each type. This way,  a hybrid power farm based on wind power…

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The new credit facility replaces Vattenfall’s existing and undrawn EUR 2 billion revolving credit facility signed in 2020. The new facility, which is available for general corporate purposes, carries a three-year tenor with two one-year extension options. It is a committed bank loan facility that allows Vattenfall to borrow funds at short notice if needed. The facility margin is linked to Vattenfall’s progress in meeting specific Scope 1 and 2 GHG emission intensity thresholds. These thresholds align with Vattenfall’s current 2030 sustainability targets which are approved by the Science Based…

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In 2021, Vattenfall committed to an immediate landfill ban and set a goal to recycle 50 per cent of all wind turbine blades from its owned farms by 2025, with a target of 100 per cent by 2030. Building on this commitment, the company is now incorporating nacelle canopies and nose cones into its strategy, enforcing an immediate ban on landfilling these materials. The expanded target is already being integrated into existing wind farm decommissioning contracts. “Expanding our recycling target is a crucial step towards achieving a circular business by…

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Through the International Responsible Business Conduct Agreement organisations from across the renewable energy sector are working together to conduct supply chain due diligence in accordance with UN principles and OECD guidelines. The first independent assessment under the global agreement between businesses, trade unions and civil society organisations has confirmed Vattenfall’s Business Area Wind as a leader in the industry for its responsible business practices, providing a strong foundation for action to build on progress to date.   Vattenfall and the wider renewable energy industry are working to accelerate the shift…

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