Vattenfall's Annual Report 2008
Making electricity clean
“Making electricity clean” – three words that summarise Vattenfall’s strategy, climate vision and promise to its customers and society. By 2050, Vattenfall’s operations shall be climateneutral, and the work on achieving that goal is already in full swing. Powerful investments in renewable energy, nuclear power and the new Carbon Capture and Storage (CCS) technology are Vattenfall’s most important contributions in the battle against global warming. Achieving this climate vision requires profitable growth, both through expansion of own generation and through acquisitions.
"The wind power investments in the UK are one of many examples of how Vattenfall is working actively and methodically in accordance with our strategic direction, which we summarise in the three words Making electricity clean. These three words embody our promise to customers and society, and an integral part of this strategic direction is our climate vision: to make Vattenfall’s operations climate-neutral by 2050."
Lars G. Josefsson, President and CEO
Vattenfall at a glance
Vattenfall is Europe’s fifth largest generator of electricity and the largest producer of heat. Consolidated sales in 2008 amounted to SEK 164,549 million. Vattenfall’s vision is to be a leading European energy company, and its main products are electricity and heat. Vattenfall works in all parts of the electricity value chain: generation, transmission, distribution and sales, and generates, distributes and sells heat. Vattenfall also conducts energy trading and lignite mining. The Group has approximately 33,000 employees. The Parent Company, Vattenfall AB, is 100%-owned by the Swedish state. Operations in 2008 were conducted in Sweden, Denmark, Finland, Germany, Poland and the UK. Through the planned acquisition of the Dutch energy company Nuon, starting in 2009 Vattenfall will also have operations in the Netherlands and Belgium.
