Vattenfall CEO: Driving Energy Infrastructure Sustainability
Anna Borg is President and CEO of Vattenfall, the Swedish multinational power company owned by the Swedish state. As a leading European energy company, it is at the forefront of driving sustainability in the energy sector, both in the energy it delivers and the construction of the infrastructure that provides it.
She highlights the importance of nuclear and hydropower in Vattenfall's operations.
"We have seen a revival of nuclear around the world,” she says, “with more new-build projects being planned. Nuclear has important capabilities in the energy system."
Under Anna’s leadership, Vattenfall is currently exploring opportunities in both existing and new nuclear power projects, with a focus on cost-efficiency and speed of construction.
She is also mindful that hydropower has been a key component of Sweden's energy system for more than a century, and that today it is receiving renewed attention.
“We are considering expanding existing hydropower locations and exploring pumped hydro opportunities for the first time in more than 30 years,” she says.
Vattenfall's commitment to net-zero targets
Under her leadership, Vattenfall has set ambitious sustainability goals. The company's net-zero targets for 2040 have been approved by the Science Based Target Initiative (SBTi), making Vattenfall one of the first energy companies worldwide to achieve this recognition.
Anna explains: "This is an important confirmation that the targets we have set are in line with the ambitions of the Paris Agreement."
With a career spanning more than two decades in the energy industry, Anna has established herself as a business-oriented executive with a strong track record in growing and consolidating businesses.
Her experience extends across various aspects of the energy sector, including marketing, sales, trading and business development. She has led operations in multiple European countries, including Sweden, Germany, the Netherlands, Finland, Denmark and Norway. This international exposure has shaped her perspective on the global energy transition and its impact on various industries, including construction.
"The green transition is happening now, as is the energy transition required for us as a society to succeed," she says. She also notes that the demand for fossil-free energy increased during 2023, with targets for the energy transition at European and country levels reaching unprecedented heights.
Vattenfall's role in the energy transition
Under Anna Borg's leadership, Vattenfall is playing a crucial role in the energy transition, being one of Europe’s most important constructors of offshore and land-based wind farms.
"For more than 100 years, we have helped electrify industry and have supplied energy to people's homes, as well as modernising the way of living through innovation and cooperation."
One of Vattenfall's significant achievements in 2023 was the inauguration of the Hollandse Kust Zuid offshore wind farm in the Netherlands. The project, developed in collaboration with partners BASF and Allianz, is the world’s first modern subsidy-free offshore wind farm in.
“Such collaborations are vital for driving the energy transition forward,” she says.
Challenges in the offshore wind industry
Despite the success of projects such as Hollandse Kust Zuid, she acknowledges the challenges facing the offshore wind industry.
"The offshore wind industry is now struggling with price increases due to rising cost of capital, inflation and supply chain squeezes," she says.
It was these factors that led to Vattenfall's decision to sell its Norfolk zone in the United Kingdom to RWE, a move that Vattenfall’s leader believes will increase opportunities to invest in fossil-free projects that better fit the company's overall portfolio and risk appetite.
Vattenfall's sustainability efforts extend beyond its own operations. The company has set a 50% CO₂ reduction target by 2030 for the procurement of goods and services — a goal that has significant implications for its supply chain, including construction partners.
In constructing the 21-turbine onshore wind farm at Bruzaholm, Sweden, the company has procured concrete with a much lower carbon footprint than is usually for turbine foundations — 211kg per cubic metre, a 40% reduction compared to industry benchmarks. The Bruzaholm wind farm will generate 460GWh of electricity annually when operational in autumn 2025.
It’s an approach that could have positive implications for the wider construction sector.
Partnerships for industry-wide change
Anna is a strong advocate for collaboration across industries to achieve sustainability goals. Vattenfall is a founding member of the First Movers Coalition (FMC), which works to enable and scale net zero technologies in hard-to-abate sectors.
"We use our combined purchasing power to accelerate investments in developing goods, services and technologies needed for the energy transition," she explains.
One example of this collaborative approach is Vattenfall's involvement in the development of fossil-free steel. The company has secured some of the first deliveries from SSAB, a Swedish steel company, for use in its own operations.
She says: "We will start pilots with possible applications like power line pylons, grid stations and parts of foundations for offshore wind power."
Looking ahead: Opportunities in the energy transition
Anna sees significant opportunities for value creation in fossil-free energy generation. However, she also emphasises the importance of prudence and adherence to risk strategies.
"Recent years' turmoil in the market has highlighted the benefits of not putting all our eggs in one basket, by strengthening our competitive advantage and generating a strong financial position," she notes.
For the construction industry, Anna's vision of the energy transition presents both challenges and opportunities.
“The development of new energy infrastructure, everything from wind farms to nuclear power plants, will require significant construction expertise.
“Additionally, the focus on sustainability in procurement and materials, such as fossil-free steel, will likely drive innovation in construction practices and materials.”
Companies such as Netherlands-based Ballast Nedam are already playing an important role in this regard.
Ballast Nedham focuses on the delivery of specialty offshore wind projects that often require one-off solutions. Nearshore locations have limited water depth or are located in the surf zone near the beach.
Such locations are not accessible to everyone and require specific approach and equipment.
Such as the IJsselmeer sea lake project near Amsterdam, where 28 outdated wind turbines have been replaced by 24 modern and powerful models.
The wind turbines are part of the Windplanblauw project, which contains a total of 61 new onshore turbines of which 24 have been placed on the water. There were a number of challenges in this project, both technically and in terms of environmental conditions and protection in a
Natura 2000 site. This resulted in innovative constructions and measures, such as a unique foundation concept.
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