The company is currently developing offshore projects in countries including the UK and Germany. It highlighted four new projects under development, including the 250 MW Pen y Cymoedd wind energy project in Wales.
Vattenfall hopes to start construction next year and generate electricity by 2016.
As part of the development consent, Vattenfall will invest in a £3 million local habitat restoration project and a community fund of up to £55 million over the 25-year life of the project.
Vattenfall head of renewables Ander Dahl said: "Wind power is a prioritized investment area for Vattenfall. Wind is one of our six energy sources and during the coming 5 years we will invest another EUR 4.2 billion in wind power projects in Sweden and in the rest of Europe."
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