The Swedish energy group Vattenfall has released its 2020 results, announcing a 13% drop in power generation in 2020 to 113 TWh. Its Power Generation business unit (conventional production from hydropower and nuclear) posted a 11% decrease in power generation in 2020 to 79 TWh, due to a 26% decline in nuclear power generation (down to 39 TWh) that was partly offset by a 11% increase in hydropower generation (up to 40 TWh). Vattenfall's wind power generation rose by 10% to 11 TWh, as the installed wind capacity exceeded 3.5 GW (+231 MW). In 2020, Vattenfall sold 164 TWh of electricity (-3%), and 57 TWh of gas (-4%).
The group plans to invest SEK 57bn (€5.6bn) in capital expenditure in 2021-2022, of which 57% will be dedicated to growth investments (SEK 32bn, or €3.2bn): of this amount, 71% will be directed to wind power (SEK 23bn, or €2.3bn), 14% to distribution grid and 9% to heat networks. Most of these growth investments will be directed to the Netherlands (29%), Denmark (28%), and the United Kingdom (22%).