Slides
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Vattenfall H1 and Q2 Results 2025 18 July 2025
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Vattenfall H1 Results 2025 In brief 2 • Vattenfall is investing over SEK 600 million in the hydropower plant Harsprånget, increasing the capacity of the power plant • The Muir Mhòr offshore wind farm has been granted consent for its onshore infrastructure • Vattenfall has been appointed by the City of Hamburg to be a partner in launching the city’s new public charging network for electric vehicles • Two new partnerships to optimise battery storage in the Netherlands and Germany • Vattenfall is working intensively to actualise new nuclear power at Ringhals on the Värö Peninsula • Underlying EBIT increased by SEK 0.6 bn to SEK 15.3 bn: • Improved result from continental hedges, increased trading result and a higher contribution from the Distribution operating segment • Compensating for lower electricity prices in the Nordics, lower electricity production and a lower contribution from the customer business • The comparison is negatively affected by the sale of the heat business in Berlin (SEK -2.8 billion) that was consolidated until the beginning of May 2024 • Profit for the period decreased by SEK 15.4 bn to SEK 10.8 bn. The comparison is affected mainly by capital gains relating to the wind power projects Nordlicht 1 & 2 (SEK 5.1 bn) and Norfolk (SEK 4.6 bn) as well as changes in fair value of energy derivatives (SEK 9.0 bn)
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Vattenfall H1 Results 2025 Overview Result development Financial targets Electricity generation (TWh) 3 Customer sales (TWh) SEK BN H1 2025 H1 2024 Δ Net Sales 118.5 128.5 -8% EBITDA 25.4 43.4 -42% Underlying operating profit (EBIT) 15.3 14.8 4% EBIT 14.4 32.6 -56% Profit for the period 10.8 26.2 -59% H1 2025 H1 2024 ROCE excl. items affecting comparability (≥8%) 5.9% 7.1% Adjusted FFO/adjusted net debt (≥25%) 40.7% 42.4% 59.4 29.0 7.1 59.4 39.1 2.6 Electricity Gas Heat H1 2024 H1 2025 5.9 20.1 18.9 8.9 0.13.5 21.2 18.0 7.8 0.1 Fossil power Nuclear power Hydro power Wind power Biomass, waste H1 2024 H1 2025 Total H1 2024 54.0 TWh H1 2025 50.6 TWh 1 The key ratio has been adjusted and prior periods have been restated, see Definitions of key ratios in the quarterly report for more information. 2 The value has been adjusted compared to previously published information in Vattenfall’s financial reports 2 2 1 1
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Customers & Solutions Continued steps forward to enable fossil freedom Highlights Key data • Net sales decreased by 6%. Underlying operating profit decreased by 32% primarily driven by lower wholesale prices and higher gas grid costs impacting the German customer business. This was partly offset by a higher result from the heat business in Sweden due to revenues from ancillary services • The customer base decreased by 2% to 12 million customers compared to year-end 2024 mainly due to decreases in electricity contracts in Germany • Vattenfall will be a partner to the City of Hamburg in launching the city’s new public charging network for electric vehicles • Inauguration of new plant for fossil-free district heating production in Vänersborg in Sweden • A new dynamic electricity contract has been introduced for household customers in the Netherlands 4 7.9 H1 2024 7.5 H1 2025 2.3 0.5 0.9 2.4 0.6 1.0 Electricity contracts (million) Gas contracts (million) Heat customer base (million) Other contracts (million) Customer base development1 H1 2024 H1 2025 3.4 54.7 28.0 2.8 3.6 54.9 31.4 2.6 Sales of electricity (TWh) Sales of gas (TWh) Heat sales (TWh) Electricity generation (TWh) H1 2024 H1 2025 60.3 75.4 Sales and production Charging points for electric vehicles (thousand) 1 Other includes Feenstra contracts SEK million H1 2025 H1 2024 Net Sales 95,794 102,058 Underlying operating profit 2,850 4,208 -of which heat operations 728 441
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Power Generation Continued investments in Swedish hydropower Highlights Key data • Net sales decreased by 9%. Underlying operating profit increased by 114%, mainly owing to improved results from Continental and Nordic hedges, and an increased trading result. A lower result for Nordic hydro power, due to lower prices, had an offsetting effect • Vattenfall is investing over SEK 600 million in the hydropower plant Harsprånget, increasing the capacity of the power plant • Two new partnerships to optimise battery storage in the Netherlands and Germany • Vattenfall is working intensively to actualise new nuclear power at Ringhals on the Värö Peninsula 5 Production and availability Nordic hydro balance and system price Electricity futures prices (EUR/MWh) H1 2024 H1 2025 39.0 39.2 90.2 93.5 Nuclear availability* (%) Hydro (TWh) Nuclear (TWh) 0 100 200 2024 2025 SYS CAL-26 SYS CAL-27 DE CAL-26 DE CAL-27 NL CAL-26 NL CAL-27 -20 -15 -10 -5 0 5 10 15 20 0 200 400 600 800 1 000 1 200 2025 SYS (SEK/MWh, rhs) Hydro Balance (TWh, lhs) 2024 *From Q2 2025 Nuclear availability is expressed according to UCR (Unit Capability Ratio) which isolates the effect of unplanned outages to give a more accurate picture of technical availability SEK million H1 2025 H1 2024 Net Sales 76,453 84,412 Underlying operating profit 9,028 4,212
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Wind Advancements across renewable energy projects 1 Added capacity during the last 12 months amounted to 20 MW and is attributable to Hollandse Kust Zuid (total 1,520 MW) Highlights Key data • Net sales decreased by 3%. Underlying operating profit decreased by 29%. This was mainly driven by lower production volumes due to lower wind speeds, a positive one-time effect in the first half year 2024 from a service agreement related to the transition of the Norfolk projects to its new owner, as well as increased depreciation due to Hollandse Kust Zuid. Higher electricity prices had a positive impact • Electricity generation decreased by 12% driven by lower volumes both from offshore and onshore wind power. • The Muir Mhòr offshore wind farm has been granted consent for its onshore infrastructure • All major permits secured for the Kattegat Syd offshore wind farm • Advancements of large-scale solar and battery projects in Germany 6 Production and availability Total installed wind capacity (MW)1 H1 2024 H1 2025 1,978 4,434 Onshore (TWh) Offshore (TWh) Onshore (%) Offshore (%) 1.8 H1 2024 1.4 H1 2025 8.9 7.8 95.8 92.0 94.7 92.2 6,412 Onshore Offshore 6,432 1,978 4,454 SEK million H1 2025 H1 2024 Net Sales 10,347 10,614 Underlying operating profit 2,293 3,251
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Distribution Investments to upgrade the electricity grid 1 All outages longer than 1 second in medium and low voltage networks are included. Vattenfall’s Swedish network covers both urban areas and large rural areas. Highlights Key data • Net sales increased by 10%. Underlying operating profit increased by 22%. Earnings were positively affected by higher revenues as a result of increased tariffs for local grids as well as lower costs for grid losses. However, higher purchase prices had an offsetting effect • Upgrades of the regional grid in Solna and Täby in the Stockholm region • Vattenfall has connected Sweden's largest solar farm to date to the electricity grid • Progress made in Vattenfall's and Svenska kraftnät's pilot concept to enable faster allocation of capacity 7 Service level (SAIDI, min)1 Customers and volumes Investments in electricity grids (SEK mn) 65 49 H1 2024 H1 2025 300 323 H1 2024 H1 2025 3,756 4,829 Sweden Network SolutionsSweden Total 974 977 H1 2024 H1 2025 38.1 37.6 Customer base (thousands) Transited volume (TWh) SEK million H1 2025 H1 2024 Net Sales 10,010 9,105 Underlying operating profit 1,559 1,274
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Financials 8
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Vattenfall H1 Results 2025 Financial highlights 1 The key ratio has been adjusted and prior periods have been restated, see Definitions of key ratios in the quarterly report for more information 2 Last 12-month values Key data Key developments • Net sales decreased by SEK 10.0 bn to SEK 118.5 bn mainly explained by the sale of the heat business in Berlin as well as lower electricity and gas prices in customer sales. This was partially counteracted by higher gas sales to customers • Underlying EBIT increased by SEK 0.6 bn to SEK 15.3 bn, driven by an improved result from continental hedges, an increased trading result and a higher contribution from the Distribution operating segment. This compensated for lower electricity prices in the Nordics, lower electricity production and a lower contribution from the customer business. The comparison is negatively affected by the divestment of the heat business in Berlin (SEK -2.8 billion) that was consolidated until the beginning of May 2024 • Profit for the period decreased to SEK 10.8 bn, mainly explained by capital gains relating to the wind power projects Nordlicht 1 & 2 (SEK 5.1 bn) and Norfolk (SEK 4.6 bn) as well as changes in fair value of energy derivatives and (SEK 9.0 bn) in 2024 • ROCE decreased to 5.9% mainly as a result of lower underlying EBIT due to the sale of the heat business in Berlin and lower contribution from the customer business • FFO/Adjusted net debt decreased to 40.7% due to higher FFO but partially offset by higher adjusted net debt 9 1 1,2 1,2 2
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Development of underlying EBIT H1 2025 Increase in earnings mainly due to improved result from continental hedges 1 “Other” pertains mainly to all Staff functions, including Treasury, Shared Service Centres and capital gains and losses from divestment of shares. From 1 January 2024, the divested heat operations in Berlin was included in Other. Change in H1 2025 vs. H1 2024 Highlights 10 4.2 4.2 3.3 1.3 1.8 H1 2024 2.9 9.0 2.3 1.6 -0.4 H1 2025 Customers & Solutions Power Generation Wind Distribution Other 14.8 15.3 Underlying EBIT H1 2024 -2.2Net other effects 15.3Underlying EBIT H1 2024 14.8 Power Generation 4.8 Customers & Solutions -1.4 Distribution 0.3 Wind -1.0 Breakdown per operating segment SEK bn SEK bn • Power Generation: mainly due to an improved result from continental and Nordic hedges and an increased trading result • Distribution: higher revenues due to increased tariffs for local grids and lower costs for grid losses • Wind: lower production volumes, a positive one-time effect during the first half of 2024 from a service agreement related to the transition of the Norfolk projects to its new owner, and higher depreciation • Customers & Solutions mainly driven by lower wholesale prices and higher gas grid costs in Germany • Other: driven by the sale of the heat business in Berlin, that was completed in the second quarter 2024
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Cash flow development H1 2025 Positive working capital development mainly related to cash inflow from margin calls 1 ”Other” includes non-cash items included in EBITDA, mainly changes in fair value of commodity derivatives Main effects • Change in working capital mainly driven by net changes in margin calls (SEK -7.5 bn) and increased working capital in the operating segment Wind (SEK -3.9 bn) and Power Generation (SEK -2.1 bn). • Changes in short-term investments are related to sale of short-term papers in order to manage the short-term liquidity. 11 EBITDA -1.1 Tax paid -0.6 Divestments, net Free cash flow 7.6 Growth investments Changes in short-term investments 4.2 0.6 Cash flow before financing activities -2.3 Maintenance and replacement investments -8.56.2 Change in WC -14.6 FFO 20.8 Other1 25.4 Cash flow from operating activities -2.8 Capital gains/ losses, net -0.1 Changes in interest- bearing receivables 3.1 -4.9 Interest paid/received, net SEK bn
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Capital expenditures Majority of investments directed to renewables and electricity grids 1 Mainly pertains to investments in intangible assets and other tangible fixed assets Investments per category, H1 2025 12 24% 39% 5% 7% 5% 19% Wind, solar, biomass & waste Electricity networks Heat networks Nuclear Hydro Fossil Other1 1% Detailed overview of investments, H1 & Q2 2025 SEK 13.3 bn SEK bn H1 2025 H1 2024 Q2 2025 Q2 2024 Hydro 0.7 0.5 26% 0.4 0.3 9% Nuclear 1.0 0.9 9% 0.5 0.5 5% Fossil 0.2 0.4 -47% 0.1 0.1 -31% Wind, solar, biomass & waste 3.2 4.3 -26% 1.6 1.7 -6% Electricity networks 5.2 4.1 27% 3.0 2.6 13% Heat networks 0.7 0.9 -22% 0.4 0.4 -4% Other 2.5 2.1 18% 1.3 1.0 26% Total 13.3 13.1 2% 7.2 6.7 8%
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Overview of key figures H1 and Q2 2025 13 Amounts in SEK bn unless indicated otherwise H1 2025 H1 2024 Q2 2025 Q2 2024 Net sales 118.5 128.5 50.6 52.0 EBITDA 25.4 43.4 11.8 16.9 EBIT 14.4 32.6 6.1 11.9 Underlying operating profit (EBIT) 15.3 14.8 6.8 4.0 Profit for the period 10.8 26.2 4.9 9.4 Electricity generation (TWh) 50.6 54 23.5 23 Sales of electricity (TWh) 82.1 83.5 38.2 38 - of which, customer sales (TWh) 59.4 59.4 26.9 26.6 Sales of heat (TWh) 2.6 7.1 0.7 1.5 Sales of gas (TWh) 39.1 29 10.5 8.8 ROCE excl. items affecting comparability (≥8%) 5.9 7.1 5.9 7.1 Adjusted FFO/adjusted net debt (≥25%) 40.7 42.4 40.7 42.4 2 2 2 2 1 The key ratio has been adjusted and prior periods have been restated, see Definitions of key ratios in the quarterly report for more information 2 Last 12-month values 1 1 1
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Appendix 14
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Development of adjusted net debt YTD 2025 15 SEK bn 79.0 Adjusted net debt Q4 2024 -20.8 Funds from operations 14.6 Cash flow from changes in operating assets and operating liabilities Cash flow from investing activitites excluding short- term investments 7.0 Dividend -7.2 Less margin calls energy trading Other 81.4 Adjusted net debt Q2 2025 9.5 -0.7 3.08% Increase due to negative cash flow from investing activities excluding short- term investments Decrease due to positive funds from operations Adjusted net debt increased mainly due to negative cashflow from investing activities (excluding short-term investments) partly offset by operating activities Increase due to negative cash flow from changes in operating assets and operating liabilities Less margin calls energy trading Decrease of other line items Increase due to dividend
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Debt maturity profile1 1 Short term debt (commercial paper and repo’s: 0.0), loans from associated companies, loans from owners of non -controlling interests, margin calls received (CSA) and valuation at fair value are excluded. Currency derivatives for hedging debt in foreign currency are included. 16 30 Jun. 2025 31 Dec. 2024 Duration (years) 3.8 4.5 Average time to maturity (years) 4.2 4.8 Average interest rate (%) 3.7 3.6 Net debt (SEK bn) 9.7 -2.8 Available group liquidity (SEK bn) 64.7 83.3 Undrawn committed credit facilities (SEK bn) 22.3 22.9 Cumulative maturities excl. undrawn back-up facilities 2025- 2027 2028- 2030 From 2031 Debt incl. hybrid capital 33.3 15.8 14.1 % of total 53% 25% 22% 11.1 9.8 10.6 11.5 0.1 6.0 1.5 0.2 2.6 9.8 22.3 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043 2045 Hybrid capital (first call date) Debt (excl. hybrid cap) Undrawn back-up facilities SEK bn
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Price hedging 1 Nordic: SE, DK, FI 2 Achieved prices from the spot market and hedges. Includes Nordic (SE, DK, FI) hydro, nuclear and wind power generation 17 Estimated Nordic1 volume hedge ratio (%) and indicative prices 55% 38% 17% 2025 2026 2027 Average indicative Nordic hedge prices in EUR/MWh 48 40 40 Achieved prices2 - Nordic portfolio Vattenfall's price hedging strategy is primarily focused on the Nordic generation assets because the primary risk exposure is linked to base production of nuclear power and hydro power. The degree of hedging is highest for the next few years and decreases thereafter. Hedging is mainly based on the Nordic system price (SYS) while delivery takes place in the price areas where generation assets are located. The achieved price in the second quarter 2025 decreased compared with the second quarter 2024 primarily due lower market prices. YTD 2025 YTD 2024 Q2 2025 Q2 2024 FY 2024 39 45 39 40 42
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Liquidity position 1 German nuclear ”Solidarvereinbarung” 1.1 SEK bn, Margin calls paid (CSA) 2.3 SEK bn, Insurance “Provisions for claims outstanding” 0.8 SEK bn. 2 Excluding loans from minority owners and associated companies. 18 Group liquidity SEK bn Cash and cash equivalents 25.9 Short term investments 43.0 Reported cash, cash equivalents & short- term investments 68.9 Unavailable liquidity1 -4.2 Available liquidity 64.7 Committed credit facilities Facility size, EUR bn SEK bn RCF (2027) 2.0 22.3 Total undrawn 22.3 Debt maturities2 SEK bn Within 90 days 0.0 Within 180 days 10.6
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Debt development 140.5 123.9 153.9 176.8 124.9 121.1 106.6 121.1 114.1 80.0 80.3 84.6 78.2 79.2 -37.6 -29.3 -116.0 3.9 41.1 48.4 38.2 68.4 53.7 14.4 3.2 -2.8 4.6 9.7 106.4 139.4 111.5 122.3 82.5 125.1 108.7 117.4 107.2 75.5 69.1 79.0 83.5 81.4 -150 -100 -50 0 50 100 150 200 31.03.22 30.06.22 30.09.22 31.12.22 31.03.23 30.06.23 30.09.23 31.12.23 31.03.24 30.06.24 30.09.24 31.12.24 31.03.25 30.06.2025 19 Net debtGross debt Adjusted net debt Net debt increased by SEK 12.5 bn to SEK 9.7 bn compared with the level at 31 December 2024. Adjusted net debt increased by SEK 2.4 bn to SEK 81,4 bn compared with the level at 31 December 2024. For the calculation of adjusted net debt, see slide 21. SEK bn
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Breakdown of gross debt 1 EMTN= Euro Medium Term Notes 20 • All public debt is issued by Vattenfall AB. • The main part of debt portfolio has no currency exposure that has an impact on the income statement. Debt in foreign currency is either swapped to SEK or booked as hedge against net foreign investments. • No structural subordination. Total debt: SEK 79.2 bn (EUR 7.1 bn) External market debt: SEK 71.5 bn (EUR 6.4 bn) Debt issuing programmes Size (EUR bn) Utilization (EUR bn) EUR 10bn Euro MTN 10.0 3.7 EUR 10bn Euro CP 10.0 0.1 Total 20.0 3.8 EMTN Hybrid capital Lease Liabilities to owners of non-controlling interests Other liabilities Margin calls (CSA) 53% 27% 9% 9% 1% 1%
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Reported and adjusted net debt 21 Reported net debt (SEK bn) 30 Jun. 2025 31 Dec. 2024 Hybrid capital 21.2 21.9 Bond issues and liabilities to credit institutions 41.7 43.0 Short-term debt, commercial papers and repo 0.1 3.9 Liabilities to associated companies 0.4 0.4 Liabilities to owners of non-controlling interests 7.3 6.8 Lease liabilities 7.4 7.2 Other liabilities 1.1 1.4 Total interest-bearing liabilities 79.2 84.6 Reported cash, cash equivalents & short-term investments 68.9 87.1 Loans to minority owners of foreign subsidiaries 0.7 0.2 Net debt 9.7 -2.8 Adjusted net debt (SEK bn) 30 Jun. 2025 31 Dec. 2024 Total interest-bearing liabilities 79.2 84.6 50% of Hybrid capital -10.6 -10.9 Present value of pension obligations 26.9 27.9 Dismantling and other environmental provisions 16.3 16.5 Provisions for nuclear power (net) 42.4 44.8 Less margin calls received treasury -0.4 -0.6 Less liabilities to owners of non-controlling interests -7.3 -6.8 = Adjusted interest-bearing liabilities 146.5 155.4 Reported cash, cash equivalents & short-term investments 68.9 87.1 Less margin calls energy trading 0.3 -6.9 Unavailable liquidity -4.2 -3.8 = Adjusted interest-bearing assets 65.1 76.4 = Adjusted net debt 81.4 79.0
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Nuclear provisions 22 Reactor1 Net capacity (MW) Start (year) Vattenfall share (%) Vattenfall provisions, SEK bn (IFRS accounting) Vattenfall provisions, SEK bn (pro rata) Sw nuclear waste fund SEK bn (Vattenfall pro rata share) Ringhals 1 879 1976 70.4 Ringhals 2 809 1975 70.4 Ringhals 3 1,070 1981 70.4 Ringhals 4 942 1983 70.4 Total Ringhals: 44.0 Total Ringhals: 44.02 Forsmark 1 984 1980 66.0 Forsmark 2 1,120 1981 66.0 Forsmark 3 1,170 1985 66.0 Total Forsmark: 40.0 Total Forsmark: 26.4 Total Sweden 6,974 - 88.53 72.83 47.54 Brunsbüttel 771 1977 66.7 10.7 7.1 Brokdorf 1,410 1986 20.0 - 2.7 Krümmel 1,346 1984 50.0 7.5 7.5 Stade5 640 1972 33.3 - 0.2 Total Germany 4,167 - - 18.1 17.5 Total SE & DE 11,141 106.7 90.2 1 Five reactors are in commercial operation in Sweden; Ringhals 3 & 4 and Forsmark 1, 2 & 3. Ringhals 1 & 2 and all reactors in Germany are taken out of commercial operation. Stade is being dismantled. 2 Vattenfall is 100% liability of Ringhals decommissioning, while owning only 70.4% 3 Total provisions in Sweden (IFRS accounting) include provisions of SEK 0.2 bn (pro rata SEK 0.2 bn) related to Ågesta, SEK 3.9 bn (pro rata SEK 2.1 bn) related to SVAFO and SEK 0.4 bn (pro rata SEK 0.0 bn) related to SKB. 4 Vattenfall’s share of the Nuclear Waste Fund. IFRS consolidated value is SEK 57.1 bn.
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Impairments and items affecting comparability Jan-Jun Jan-Jun Full year Last 12 Amounts in SEK million 2025 2024 2024 months Items affecting comparability -882 17,865 21,792 3,045 - of which, capital gains 103 9,736 9,852 219 - of which, capital losses -9 -1,734 - 1,765 -40 - of which, impairment losses -640 -988 - 1,335 -987 - of which, reversed impairment losses - - 15 15 - of which, provisions 502 1,411 643 -266 - of which, changes in the fair value of energy derivatives 100 9,009 12,668 3,759 - of which, changes in the fair value of inventories -931 431 1,528 166 - of which, other non-recurring items affecting comparability -7 - 186 179 23 Major items Jan-Jun 2025 • Impairment losses amounted to SEK -0.6 billion, relating to onshore wind assets in Sweden • Provisions related to nuclear decreased by SEK 0.5 billion due to higher discount rate • The changes in fair value of energy derivatives and inventories amounted to SEK -0.8 billion in total • During the second quarter 2025, impairments of SEK 640 million was recorded. The impairments are related to onshore wind assets in Sweden and were mainly driven by deteriorating outlook for electricity prices • No previously recognised impairment losses have been reversed in the income statement during the first half year of 2025 Impairment losses and reversed impairment losses
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Wind & Solar - Installed capacity (MW1) Q2 2025 1 Capacity in operation: total capacity of the wind farms that Vattenfall has an ownership or is responsible for the operation. Minority shares included as 100% 2 Asset divested but in operation by Vattenfall under Asset Management Agreement (AMA) 3 Assets on VF Hydro’ sites, but operated by BA Wind 24 Solar Onshore Offshore Batteries Total - 623 685 77 1,385 Thanet 300 Kriegers Flak 605 Hollandskust Zuid (51%) 1,509 - 196 1,514 - 1,710 Ormonde (51%) 150 Horns Rev 3 407 Princess Ariane 184 65 515 1,509 15.00 2,104 Aberdeen 96 Horns Rev 1 (60%) 158 Princess Alexia 122 - 638 110 25.00 773 Kentish Flats 90 Vesterhav 344 Windplan Blauw 77 93.4 7.0 636.0 1.0 737 Kentish Flats Extension 50 Klim (98%) 67 A16 / Klaverspoor 34 Total (MW) 158 1,978 4,454 118 6,709 South Kyle (0%, AMA²) 240 Nørrekær Enge 1 (99%) 30 Slufterdam 29 Pen Y Cymoedd 228 Rejsby Hede 23 Moerdijk 27 Ray 54 Hagesholm 23 Haringvliet 22 Edinbane 41 Tjæreborg Enge 17 Echteld 8 Batteries Clashindarroch 37 Bajlum (89%) 15 Oom Kees (12%) 6 Solar Swinford 22 DræbyFed 9 Oudendijk 5 Onshore Battery@Ray 55 Ejsing (97%) 7 Haringvliet 38 Offshore Battery@PyC 22 Lyngmose 5 Kooypunt 12 1,385 1,710 Velsen 2 Hemweg 2 Diemen 1 Lillgrund 110 DanTysk (51%) 288 Symbizon 1 Blakliden + Fäbodberget (30%) 353 Sandbank (51%) 288 Decentral Solar installations 8 Stor-Rotliden 78 Alpha Ventus (26%) 60 Alexia 3 Grönhult (0%, AMA²) 67 Westküste (20%) 7 Haringvliet 12 Högabjär-Kärsås (50%) 38 Tützpatz 77 2,104 Höge Väg (50%) 37 Decentral Solar installations 10 Hjuleberg (50%) 36 Geesthacht (0%³) 2 Juktan (50%) 29 Markersbach Damm (0%³) 4 Toledo 25 Ingredion 1 773 737 The NetherlandsUnited Kingdom Installed capacity (MW) Denmark Installed capacity (MW) Installed capacity (MW) Installed capacity (MW) Germany Sweden United Kingdom Denmark The Netherlands Sweden Germany Installed capacity (MW)
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Main projects BA Wind in our 5 core countries 25 Offshore Onshore Solar Batteries * cPPA stands for Commercial Power Purchase Agreement. For these projects, BA Wind has signed a contract with a partner for the sale of contractually agreed amount of MW per year, for a fixed period of time (usually ranging between 10 -15 years) Support scheme DE Nordlicht I 980 - 100 2028 FID received in March 2025 DE Nordlicht II 630 - 100 2028 FID received in March 2025 SE Bruzaholm 139 100 2025/2026 Under construction, cPPA* signed SE Velinga 60 100 2026 Under construction SE Battery@Bruzaholm 38 100 2025/2026 Under construction DE Silberstedt 23 100 2025 Develop2Sell project; under construction, cPPA* signed DE Neubrandenburg 84 100 2026 Develop2Sell project; under construction, cPPA* signed DE Nauen 46 100 2025 Develop2Sell project; under construction, cPPA* signed DE Martensdorf 94 100 2026 FID received in June 2025 DE Döbrichau 70 100 2026 FID received in June 2025 DE Bärwalde 18 100 2026 FID received in June 2025 In construction 2 182 NL Zeevonk (Ijmuiden Ver Beta) 2 000 50 2030 Bid awarded in June 2024, partnering with CIP UK Muir Mhor (Scotwind) 750 CfD 50 2030 Under development with consenting and permitting progressing to ensure participation in the CfD bid, JV with Fred Olsen DE Wolfsberg 17 EEG D2S 2026 Develop2Sell project. FID planned for May 2025 GB Clashindarroch II 63 CfD D2S 2028 Conditional FID GB Ourack 250 D2S 2028 Permit granted and irrevocable DE Battery @ Tützpatz 50 D2S 2025 FID planned for 2025 In development (in mature stage) 3 130 Owner- ship (% ) Commission- ing Current statusCountry Name Capacity (MW)