The German energy group Uniper has announced its new strategy to guide its energy transition by investing more than €8bn in renewable projects to achieve over 80% of its installed generating capacity as zero-carbon by 2030. The group plans to make direct investments to build solar and wind parks, and to phase-out coal by 2029 at the latest. Uniper aims to gradually decarbonise its gas business, to have 5% to 10% of its portfolio in green gases by 2030, and to repurpose some of its existing gas storage facilities for hydrogen storage. With this, Uniper aims to to achieve carbon-neutrality for its Scope 1 and 2 emissions by 2035, and to be completely carbon-neutral for Scope 1 to 3 emissions by 2040.
In December 2022, Germany bailed out Uniper with a financial stabilization package after it reported a €19.1bn loss in its 2022 results due to additional costs of gas procurement related to the war in Ukraine and the loss of their Russian assets. Nowadays, Uniper’s portfolio remains heavily dependent on fossil fuels with around 15 GW of coal-fired and gas-fired power plants out of its 22.5 GW portfolio in Europe.