Vattenfall is willing to invest over 1 billion euro in a renewable energy project in France if the nation is going to do some concessions later this year. France is a major growth market for the company. This month Vattenfall opened a new office in the capital of France, Paris. The Swedish energy company wants to point out the long term strategy with this move.
Vattenfall has the ambition to really grow in the renewable energy market. Developments within Hydro power are exactly what this Swedish company is looking for.
Vattenfall is one of the first energy companies who set foot on French soil after the liberalization of the French energy market. In 2010 Vattenfall managed to sell over 6 TWh of Electricity in France.
France is one of the biggest producers of Hydro power in Europe, with a Hydro capacity of25.000 MW. These new consessions will increase this nummer with 5300 MW till 2015. As this is over 20% of the total Hydro energy output, Vattenfall wants in. The company wants to get permission to built 1000 MW of Hydro power in France.