“We invest billions in Germany”

Vattenfall will invest about three billion euros in Germany over the coming years, said the company’s president and CEO Magnus Hall in an interview with Handelsblatt. “There is significant growth potential in cities like Berlin or Hamburg, for example in the operation of district heating systems […]. Added to that is the wind power sector, which will grow in Germany over the coming years,” said Hall. However, there will be job cuts in the country, said Hall. Asked about criticism over possible consequences of Vattenfall’s decision to sell its German lignite business to Czech investor EPH, Hall said: “We don’t have any reason to doubt that EPH will use the reserves we have built for the recultivation – and that will be passed over to EPH – exactly for that purpose.” The Swedish government is expected to decide on the takeover by EPH this week.

Read the interview (behind paywall) in German here.