Vattenfall is one of Europe’s largest generators of electricity and heat. Vattenfall’s main markets are Denmark, Finland, the Netherlands, Germany, the UK and Sweden. Electricity generation and sales of heat amounted to 117 TWh and 20 TWh, respectively, in 2016. Vattenfall has approximately 6.3 million electricity customers, 3.3 million electricity network customers and 2.2 million gas customers. The Group has approximately 20,000 employees. The Parent Company, Vattenfall AB, is 100% owned by the Swedish state, and its headquarters are located in Solna, Sweden.
Vattenfall’s goal – to be climate-neutral by 2050 – and by 2030 in the Nordic countries – entails a stepwise phase-out of fossil fuels. All Vattenfall’s operations strive to create a market rate of return in parallel with being among the leaders when it comes to developing energy production that is environmentally sustainable. Vattenfall Research and development (R&D) is responsible for identifying, developing and ensuring the implementation of value-adding technical solutions that support Vattenfall’s strategic needs. Vattenfall performs R&D within technology areas such as wind, hydro, electric mobility, smart grids, heat and biomass.
Vattenfall owns and operates more than half of the Swedish hydropower resources with a total capacity of 8300 MW and a yearly production of 30-35 TWh/year. Vattenfall also owns nine hydropower plants in Finland, as well as three conventional plants and eight pump storage plants in Germany. Vattenfall Hydro employs around 500 people and plans to invest €1.2bn in upgrading and refurbishing its hydropower assets during 2013-2023.