Vattenfall boosts solar portfolio with acquisition of Germany’s Solizer

Vattenfall, a Swedish multinational power company, has taken over German solar developer Solizer, acquiring a pipeline of large-scale solar projects in Germany, amounting to 4GW. This purchase extends Vattenfall’s German solar development portfolio to a total of 7GW, with the first projects from the newly acquired portfolio set to begin construction as early as 2024.

This strategic acquisition aligns with Vattenfall’s objective to facilitate fossil-free living within one generation, a goal greatly assisted by the expansion of electricity production from solar. Helene Biström, Senior Vice President and Head of Business Area Wind at Vattenfall, underlines the significance of this transaction. “Germany is a core market for Vattenfall’s solar development. 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. By adding Solizer’s development projects and know-how to our portfolio we continue on our renewables growth path,” said Biström.

Solar power’s critical role in the energy system spans from small household setups to large-scale projects. The cost of solar panels has significantly decreased in recent years, making them one of the most affordable forms of electricity generation. This trend, combined with the panels’ low CO2 emissions, indicates that solar panel volumes will continue to increase in Vattenfall’s core markets. Large-scale solar farms are set to be crucial players in the transformation of Europe’s energy system.