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Vattenfall investing $1.92 billion on hydropower refurbishments

Swedish utility Vattenfall said it will invest around 13 billion kronor ($1.918 billion) on modernizing and increasing the production of its hydropower plants until 2023.

The company will be spending around 1 billion kronor per year over the next 10 years on upgrades and refurbishments to their hydropower generation facilities.

Vattenfall owns and runs more than 100 hydropower plants which account for roughly 20 percent of its total power generation.

As part of the refurbishments, the company announced that they will be investing 279 million kronor on their facility in Storuman, Umluspen starting 2014. The facility will get two new turbines to increase production by 8 gigawatt-hours per year.

The Umluspen facility was completed in 1957 and currently produces 400 gigawatt-hours per year. The refurbishments will increase its capacity and ensure another 40 years of operation.

"New and more efficient turbines and generators provide more energy from the same water volume. The modernization of Vattenfall's hydropower plants has a clear focus on reducing the environmental impact of hydro power," said Christer Ljunggren, fleet manager for Vattenfall Hydropower.

The company already invested 1 billion kronor at the start of this year on their hydropower plant in Akkats, Jokkmokk. The Akkats plant now has the capacity to produce enough electricity annually for about 120,000 households.

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