In light of the challenging financial environment for European power utilities, Vattenfall needs to “prioritise its investments”, Vattenfall UK manager Peter Wesslau says.
The company has invested some £5m in the EOWDC to date, he revealed, and says Vattenfall still plans to be a part of the project, although with a diluted shareholding.
“Like all energy companies across Europe, there are constraints on our capital budgets and so Vattenfall has had to prioritise its investments, which means calling on new investors to help realise [the project],” Wesslau adds.
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