Vattenfall is prepared to invest up to US$1.46 billion in hydroelectric power in France when the country offers hydropower concessions later this year, the Swedish state utility said in a statement.
France is one of Vattenfall’s growth markets. Earlier this month, Vattenfall opened an office in Paris, thus emphasizing its long-term strategic interest in the country.
Vattenfall was one of the first foreign companies to enter the French power market when the liberalization process was initiated in 2000. Vattenfall’s current activities in France include supplying electricity to large business customers and grid operators. These activities will continue. In 2010, Vattenfall sold approximately 6 TWh electricity.
France is the second largest market in Europe in terms of installed hydropower capacity of 25 GW. Thus, the renewal of the concessions for 5,300 MW until 2015 represents more than 20 percent of the total capacity. Vattenfall aims to obtain concessions for 1 GW.
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