Vattenfall plans $3.4bn Energiewende boost for Germany

Berlin and other German cities are set to be the beneficiaries of a $3.4bn investment in the country’s Energiewende policy frMagnus Hallom Swedish utility Vattenfall.

Chief executive Magnus Hall mentioned the investment in an interview with the Handelsblatt newspaper, with the majority of the finance going on renewables and district heating and decentralised energy schemes, particularly in Berlin.

Hall predicted that, “there will be a lot of growth in wind power in Germany in the coming years.”

The utility is committed to cutting its carbon emissions significantly to become a green energy provider by 2050 at the latest. They are in the final stages of offloading their coal and lignite interests in Germany to Czech group EPH.

“We expect antitrust approval by the European Commission during the course of this summer and after that the sale should be completed by August 31,” Hall told Handelsblatt.

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