Vattenfall splits wind business unit and forms solar division

Vattenfall has changed the setup of its Business Area Wind. The newly formed organization started operations with effect from July 1. In the beginning of this year, Vattenfall decided to sharpen its wind activities towards a product line driven organization. As a consequence, the Business Area Wind will now operate with three Business Units (BU’s); Offshore, Onshore and for the first time Photovoltaic & Battery. The Business Units will cover the entire value chain of their respective business and will operate in a very agile and market specific approach.

Gunnar Groebler, Head of Vattenfall Wind, said:

“Already early this year, we have taken a decision to adjust our ways of working towards the anticipated market developments. With the “go live” of the new structure, we again put more focus on profitable growth in the renewable space and hence supporting Vattenfalls overall ambition to power climate smarter living and becoming CO2 free in just one generation. An important new pillar of Vattenfalls renewable strategy is the formation of the Business Unit Photovoltaics & Battery. In the upcoming two years Vattenfall plans to invest up to EUR 150 million in in large scale as well as decentralized PV and battery projects. This underlines our strong ambition to reshape the Vattenfalls overall production portfolio and to broaden into a market with significant future growth rates.

“Vattenfall is already among the pioneering companies in terms of cost reductions in the offshore and onshore wind sector as it is our ambition to lead the industry into a profitable but also highly competitive future. At the same time we face a fast changing business environment in our markets. 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.”

The new organization, designed along the respective value chains, will enable the Business Units to further reduce levelized costs of energy due to increased focus and reduced complexity.