Rabbalshede Kraft began 2021 with a high activity level. This included the construction start of three new wind farms, the commissioning works for two wind farms and, at the same time, working to expanding our offering within renewable energy. Our ambition is to find new ways to enable the sustainable transition and our vision: to shape tomorrow’s energy.
In the transition to a fossil-free society, we see hydrogen as an opportunity for the necessary synergy between the energy, industry and transport sectors.
Rabbalshede Kraft and Euromekanik have therefore taken the next step in their mutual hydrogen effort and applied for participation in IPCEI-Hydrogen (Important Projects of Common European Interest) aiming to develop a unique and innovative green hydrogen concept for the Swedish market.
At the same time, we are focusing on our largest business: development and operations of wind projects. Within one year, we aim to able to take new investment decisions on the same scale as late 2020. Beyond the coming years, our project portfolio has also grown and developed very well. To complement wind power as a renewable energy source, we are also looking at how we can enhance our own projects with solar energy. We are also negotiating comprehensive cooperation agreements with strong partners who will give our solar effort a real boost.
After experiencing record low energy prices during 2020, energy prices have begun to return to historically normal levels. It is encouraging to see how the situation has changed during the first quarter of 2021. Unfortunately, wind levels have been lower than normal during the first quarter, which resulted in production being under budget. In total, the result for the first quarter is under budget.
In connection with our new strategic focus, we are working with a new brand platform that will be fully rolled out during 2021. Through innovation, cooperation and acting responsibly we will take Rabbalshede Kraft into the future.