Like all the major utilities in Europe, Vattenfall has vowed to become carbon neutral by 2050. But the Swedish government-owned company is ploughing a unique furrow, with a focus on offshore wind and a pioneering role in the decarbonisation of heat and industrial processes.

Arguably, Vattenfall has one of the most optimistic outlooks on offshore wind, winning the recent zero-subsidy tender in the Netherlands for the 684-760MW Hollandse Kust South project — an auction that the world’s leading offshore wind developer, Orsted, decided not to enter, arguing that the economics of the project were uncertain.