Vattenfall (VF) Offshore wind power roundtable presentation summary

Track record and market position

• Installed 6.6 GW of renewable capacity, with major offshore, onshore, solar, and battery assets across Europe.

• Operates in seven countries with 56 locations and a mature wind project pipeline of ~5 GW.

• Top 3 offshore wind player in northwest Europe, with 4.5 GW operational offshore wind capacity.

• Core markets include the UK, Denmark, Germany, the Netherlands, and Sweden, with significant installed and developing capacity.

• Holds a leading position in Sweden with ~3.2 GW of permitted offshore wind projects.

Strategic approach and partnerships

• Focuses on decarbonisation partnerships, competitive offshore operations, and trusted industry leadership.

• Engages in offtake agreements to support industrial decarbonisation, such as with BASF and Salzgitter.

• Pursues technology maturation through partnerships in hydrogen and floating wind projects.

• Collaborates with suppliers for sustainable sourcing and supply chain resilience.

• Optimises its project pipeline through co-investments, joint ventures, and strategic asset sales.

Industry trends and outlook

• Offshore wind industry is refocusing on attractive growth options, with several players pausing or scaling back less viable projects.

• Cost reduction and risk-sharing initiatives are helping to lower levelised electricity costs.

• Long-term fundamentals remain strong, with significant new installations expected in core markets through 2030.

• Offshore wind is critical for meeting EU and UK net zero targets, supporting system integration and industrial decarbonisation.

• Sweden's commitment to fossil-free energy transition positions offshore wind as a key enabler for future electricity needs.