Vattenfall is a Swedish state-owned energy company, which has been making headlines for its ambitious plans to transition to renewable energy.
Vattenfall was founded in 1909. Today it supplies electricity and heat to more than 5 million customers across Sweden, Denmark, Germany, the Netherlands, and the UK. It is one of the largest energy companies in the Nordics, with a diversified portfolio of energy production, including hydroelectric, nuclear, and fossil fuel-based power generation.
Transition to renewable energy
Vattenfall is making significant investments in renewable energy and aims to be carbon neutral by 2040 .
The company has invested heavily in wind power. It is driving down the cost of wind power with its large-scale wind farms, making it more competitive with fossil fuels.
Additionally, the company is exploring new technologies, such as hydrogen and battery storage, to complement its renewable energy portfolio.
While Vattenfall has made significant progress in transitioning to renewable energy, the company has also been involved in several controversies in the past.
In 2009, Greenpeace filed a complaint against Vattenfall, accusing it of breaking German environmental laws and harming consumer protection. The German government rejected the complaint, and Vattenfall reached an agreement to end the case.
by Carlos Lago/Riedia, Xuecong Liu/Riedia
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