Wants to green power and gas activities graduallymapped out plans to move away from fossil fuels on Tuesday with billions of euros in green investments, hailing record earnings in the first half of 2023 as a turnaround following its bailout just a year earlier.
The planned transformation consists of decarbonising Uniper's existing power and gas assets and building up new ones. Expecting no further financial losses from procuring replacement gas volumes, Uniper said on Tuesday no further capital increases from the German state would be necessary. Plants hang from lights at a display of German energy firm Uniper during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/file photoAsked by investors for a timeline on the German government's exit, CFO Jutta Doenges called for patience and pointed to the terms of the bailout, which requires Berlin to reduce its stake to no more than 25% plus one share by the end of 2028.
The company is aiming to transition away from natural gas towards hydrogen and biomethane, although its plan to reduce carbon emissions also relies on carbon capture and expanding imports.
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