“WE ARE STAYING IN BERLIN”

GERMANY Berlin will remain important for Vattenfall’s business for a long time. In a lengthy interview CEO Magnus Hall states that Vattenfall will invest roughly EUR 2 billion in the city until 2020.

The German newspaper Berliner Morgenpost recently interviewed Magnus Hall about Vattenfall’s future in Germany. 
He denied rumours of the company giving up all its German business in connection with the planned divestment of lignite operations in the eastern part of the country.
“I don't understand this discussion. From Vattenfall's point of view, we have three main markets: the largest is Germany, followed by Sweden and then the Netherlands. Leaving Germany would make no sense at all. However, many people think that because we are selling our lignite operations we must be moving away from Germany. That's not true. It is part of a rebuilding strategy for our business in Germany.”

“We are staying here”
Hall also reiterated his ambition for the company’s future in Berlin.
“Berlin is important to Vattenfall and we are staying here. I think that we can continue to be an excellent partner for the city. If Berlin wishes us to, we will develop the future of energy here together. We are in a strong position. We own the electricity grid, the district heating network and most of the power plants.”

Two billion euros
Vattenfall will invest heavily in power plants and the grid in Berlin until 2020.
“We're talking about investing just under EUR two billion in Berlin between now and 2020. We're putting a lot of money into the system. We have to do that because Berlin is growing. It is growing by almost 50,000 people every year. They need to be connected to the grid. We invest between EUR 130 and 150 million in the electricity grid every year. When it is completed, the power plant in Lichterfelde will have cost EUR 0.5 billion. This is in addition to developing the district heating network, modernisation projects at the other power plants and new generation capacity in the east of the city,” Hall said.

Hall interview in Berliner Morgenpost (in German) 

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