The Swedish state-run power company Vattenfall issued its 2017 results, reporting a positive result for the first time in five years as its net profit reached SEK9.6bn (€0.97bn) in 2017.
Vattenfall's electricity production rose by 8.3 TWh in 2017 to 127 TWh (+7%), due to a higher nuclear generation (+5 TWh). Offshore wind power generation also increased significantly (+1.8 TWh) to 7.6 TWh, thanks to the commissioning of the 288 MW Sandbank (Germany) and the 228 MW Pen y Cymoedd offshore wind park in the United Kingdom, bringing the total wind power capacity up to 2.8 GW. 36% of this capacity is located in the UK and 24% in Sweden. Besides, 700 MW of wind projects are currently under construction and another 6 GW are in the development phase. Vattenfall's power sales decreased by nearly 12% to 109 TWh (-14 TWh), while heat sales declined by 7.4% to 19 TWh and gas sales grew by 2.9% to 56 TWh.
Vattenfall's portfolio is dominated by climate-neutral energy sources and the company plans to increase its carbon footprint even more. In 2017, coal-fired power generation assets were phased out in Berlin.