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Vattenfall has decided on an investment plan for 2020–2021 of SEK 58 billion. Growth investments amount to SEK 35 billion, and the largest share, SEK 25 billion - or 70% - is planned to be invested in wind power. Vattenfall will also invest in solar power and new business areas such as decentralised solutions, energy storage and e-mobility. Maintenance and replacement investments amount to SEK 22 billion, whereof SEK 9 billion is planned to be invested in the electricity networks and SEK 5 billion relates to investments in Vattenfall’s hydro and nuclear power plants.
 
Vattenfall’s net sales (SEK 13 492 million) and underlying operating profit (SEK 4 155 million) increased during 2019, mainly owing to new capacity. This was partly countered by lower prices. Two wind farms were commissioned during the year: Slufterdam (29 MW) and Horns Rev 3 (407 MW). Electricity generation increased as a result of new capacity.
 
In Q4 net sales (SEK 3 990 million) were unchanged compared with the fourth quarter 2018. The positive effect of new capacity was offset mainly by negative price effects and lower wind speeds. Underlying operating profit (SEK 1 680 million) decreased due to higher depreciation. Electricity generation increased as a result of new capacity.
 
In November an agreement was signed with Siemens Gamesa on the supply of 140 turbines to the Hollandse Kust Zuid 1–4 offshore wind farm. The units are a larger model with a capacity of 11MW.

In the Netherlands, construction of Vattenfall’s first floating solar farm was started. The project is being funded by the City of Netterden and is expected to be operational in 2020. The solar farm will have a capacity of 1.2 MW and will be used to power operations of a local sand and gravel pit.
 
Vattenfall is continuing its work on digitalisation in wind power. For example, a development project is currently under way on data-driven operation and maintenance of wind farms. This is an important step to be able to gain full control over and optimise operations of its plants. The roll-out is expected to begin in mid-2020.
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