Vattenfall halts 640MW Kriegers Flak wind project in Sweden [Yahoo! Finance]
ALFA-LAVAL AB UNSP/ADR (ALFVY)
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Source: Yahoo! Finance
The decision comes as a result of what the company describes as "unviable investment prerequisites" in the country. Located 30km south of Trelleborg, the Kriegers Flak site was projected to generate 2.7T terawatt hours (TWh) of energy annually, sufficient to meet the yearly energy use of 500,000 households. In May 2022, the government issued a construction permit for the wind farm, allowing the installation of between 35 and 50 wind turbines. Vattenfall stated: “The investment prerequisites for offshore wind in Sweden are currently not viable and Vattenfall has therefore decided to pause all further development of the project. “The wind farm was planned for production start in 2028, which is no longer possible. [Should] the investment prerequisites improve and the permits are still valid, the project can be resumed. “Vattenfall has previously communicated that one of the main prerequisites for investing in the project is a reasonable connection point to the national grid of
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