Vattenfall aims to develop projects to increase renewable generation by approximately 10TWh by 2016 with an investment of SEK 40B (US$5.5B).
While the major part of the potential projects is expected to be wind generation, hydro plants are expected to contribute 1 to 2TWh. Biomass projects are expected to contribute a further 0.5TWh.
Vattenfall president and chief executive, Lars G. Josefsson, pointed out that the additional 10TWh should be seen in relation to the 90TWh that Vattenfall currently generates in the Nordic region.
The move follows a recent government bill on the future of its renewable electricity certificate system, in which the Swedish government proposed a target of 17TWh by 2016. ‘An important precondition for the implementation of the projects is that parliament approves the support system, as it is estimated that it will only be possible to realise some of the hydro power projects on a commercial basis without electricity certificates,’ said Vattenfall.
