The state-owned energy group Vattenfall from Sweden has expanded its solar development portfolio in Germany to 7 GW, after it acquired German solar projects developer Solizer with its large-scale projects pipeline for an undisclosed amount.
Solizer comes to Vattenfall's fold with its 4 GW large scale solar projects pipeline. Initial projects in the portfolio, explained Vattenfall, can be ready for construction by 2024.
"Germany is a core market for Vattenfall's solar development," said Vattenfall's Senior Vice President and Head of Business Area Wind, Helene Biström. "By adding Solizer's development projects and know-how to our portfolio we continue on our renewables growth path."
The Swedish company says it will continue to add more solar to its power generation portfolio 'due to decreasing costs and low CO2 emissions'.
"Solar is cost-competitive and can be built subsidy-free, which is important in meeting the rapidly increasing demand for low-cost solar power from customers," added Biström.
Apart from Germany, Vattenfall is growing its large-scale solar farms portfolio in the Netherlands where these can be operated sans subsidies.
In February 2023, Vattenfall announced a 76 MW subsidy-free solar project in Germany on site of an organic free-range eggs production and farming (see Swedish Company's 76 MW Agrivoltaic Project In Germany).