There is also in institutional influence. Vattenfall has a corporate division called Vattenfall Renewables. The company has already accumulated a vast store of expertise in wind—an investment in institutional memory that only pays off if they keep doing wind projects.
Vattenfall blows life into Europe wind projectsPublished: 14 Jun 12
Swedish power group Vattenfall said Thursday it was moving ahead with four new European wind farm projects and would invest €4.2 billion ($5.2 billion) in the field over the next five years.
"During 2012, Vattenfall has received permission to go ahead with planning for four new wind farms," the company said in a statement -- in Germany, Wales, Denmark and the Netherlands.
The company said it had received approval for the Forst Briesnig project in Germany; a 250-megawatt wind farm called Pen y Cymoedd in southern Wales; a wind farm at Tamholt in Jutland, Denmark; and a 340-megawatt project in the Netherlands.
"Wind power is a prioritized investment area for Vattenfall," Anders Dahl, the head of Vattenfall Renewables, said in the statement.
Between 2012 and 2016 the company would invest an additional €4.2 billion and hire another 200 people to develop that side of its business, the statement added.
It already operates some 40 different wind farms with 900 wind power turbines, generating a total of 3.7 terawatt/hours, or enough electricity to supply about one million households, it said.
The company claims to be the world's second-largest player in terms of offshore wind farms. more