Vattenfall CEO aims to make offshore wind up to 40% cheaper

It has emerged that Vattenfall’s new CEO Magnus Hall is gearing up to lower prices to match Dong Energy’s plan to make offshore wind at least 40% cheaper.

By Ritesh Gupta

According to a report filed by Danish business daily Borsen, Vattenfall is working to change its allocation of energy production. The entity is planning to present its plan within six months.

Hall recently visited the company’s wind centre in Esbjerg, Denmark. Hall went to Esbjerg as the company is set to break the barrier of 1000 wind turbines to be controlled from its surveillance centre at the Danish North Sea coast.

Vattenfall has more than 900 wind turbines in operation in Sweden, Denmark, Germany, the Netherlands and the U. K.

At the end of 2013, the company had a 12.5% share of the offshore wind energy in the world (850 MW out of 6900 MW). In one of the recent developments, Vattenfall and Stadtwerke München (Munich City Utilities, SWM) decided to jointly invest about €1.2bn in a second joint offshore wind farm off the German North Sea coast.