News release from Northern & Central Europe
Hamburg, 20 December 2023

Vattenfall, one of Europe's largest producers and retailers of electricity and heat, and Vestas have signed agreements to elevate the partnership between the two companies and their offshore wind business towards 2030. The agreements are another step in the right direction for offshore wind energy in the UK and follow the UK Government's recent announcement about the parameters for the next Contracts for Difference Auction round, which sent a very positive signal to renewable energy investors.

The agreements for the three projects include a preferred supplier agreement (PSA) for the 1,380 MW Norfolk Vanguard West project, comprising 92 of Vestas' V236-15 MW offshore wind turbine. Vattenfall and Vestas have further signed exclusivity agreements for the Norfolk Vanguard East and Norfolk Boreas projects with a total installed capacity of 2,760 MW. The two latter projects will potentially feature up to 184 V236-15 MW turbines. Once installed, the agreements also include that Vestas will service the projects under long-term Operations and Maintenance (O&M) service contracts. The agreements are another step forward for what will be one of the largest offshore wind zones in the world, with a capacity to power over 4 million UK homes.

"Vattenfall and Vestas' shared purpose and values form a great foundation for a long and strong partnership within offshore wind, and it is an immense pleasure to sign and announce these agreements. The agreements are the result of close and positive negotiations between two partners as well as the positive changes the UK Government has announced for next year's auction. By listening to industry concerns, the UK Government has positioned the UK for success within the offshore wind industry. I want to thank the UK Government for its regained leadership and everyone at team Vattenfall and team Vestas for making today's announcement possible", says Henrik Andersen, CEO and President Vestas.

Helene Bistrom, Head of Business Area Wind at Vattenfall, says: "The agreement with Vestas is another important milestone for the Norfolk Offshore Wind Zone. Vestas is a long-standing partner of Vattenfall, and we thank them for their continued engagement. The Norfolk Zone will play a vital role in the UK's energy transition as well as bringing investment into the sector and the region."

Nils de Baar, President of Vestas Northern & Central Europe, says: "We are proud to partner with Vattenfall on offshore wind once again and announce both a preferred supplier agreement for Norfolk Vanguard West and exclusivity agreements for Norfolk Vanguard East and Norfolk Boreas. The agreements, which include a long-term service agreement, underline Vattenfall and Vestas' shared purpose to create a more sustainable world, and in this case jointly support increasing the supply and security of energy in the UK."

If and when the agreements between Vattenfall and Vestas materialise into one or more orders for Vestas, these will be disclosed in accordance with the company's disclosure policy.

For more information, please contact:
Yannick Kramm
External Communications Specialist, Vestas Northern & Central Europe
Mail: yankr@vestas.com
Tel: +44 (0)77 9528 4694
About Vattenfall
Vattenfall is a leading European energy company, which for more than 100 years has electrified industries, supplied energy to people's homes and modernised people's way of living through innovation and collaboration. We work to enable the fossil freedom that drives society forward. We are committed to building a future where everyone can choose fossil free ways to move, make and live. Our goal is net zero emissions in our entire value chain by 2040 at the latest. We employ approximately 20,000 people, have around 14 million customers and operate mainly in Sweden, Germany, the Netherlands, Denmark and the UK. Vattenfall is fully owned by the Swedish state. For more information: Fossil freedom - Vattenfall (https://eur02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fgroup.vattenfall.com%2F&data=05%7C01%7Cbranding%40vattenfall.com%7C27173b0add0e43d9d92d08dbdf8af185%7Cf8be18a6f6484a47be7386d6c5c6604d%7C0%7C0%7C638349560066998616%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=%2FzSPYAyn8%2BbD0tlBB5PzPWkJ5ilXy1pfjV4WPJTNrEo%3D&reserved=0)

About Vestas
Vestas is the energy industry's global partner on sustainable energy solutions. We design, manufacture, install, and service onshore and offshore wind turbines across the globe, and with more than 173 GW of wind turbines in 88 countries, we have installed more wind power than anyone else. Through our industry-leading smart data capabilities and unparalleled more than 151 GW of wind turbines under service, we use data to interpret, forecast, and exploit wind resources and deliver best-in-class wind power solutions. Together with our customers, Vestas' more than 29,000 employees are bringing the world sustainable energy solutions to power a bright future.

For updated Vestas photographs and videos, please visit our media images page on:
https://www.vestas.com/en/media/images.

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