By Christoph Steitz and Tom K\u00e4ckenhoff<\/p>\n
\n FRANKFURT\/DUESSELDORF (Reuters) -Uniper will invest 5 billion euros ($5.8 billion) through 2030 mainly on renewable and gas-fired power plants, the German utility said on Thursday, in a strategy update that reflects more sober expectations for green energy markets.<\/p>\n
\n The state-owned company said last year it would slow down an initial plan of investing 8 billion euros in its transformation by 2030, citing falling returns on renewable projects as well as a delay in the development of hydrogen markets.<\/p>\n
\n The challenges have led several European utilities, including larger German peer RWE, to come under pressure from investors to review their capital allocations, forcing them to trim spending plans.<\/p>\n
\n “The regulatory and geopolitical environment is challenging,” Uniper CEO Michael Lewis said, citing delays to German government plans to build new gas-fired power plants as well as the slow hydrogen ramp-up.<\/p>\n
\n “Consequently, we have decided to sharpen the strategic focus of our portfolio through 2030 even more on activities and projects that generate reliable earnings streams.”<\/p>\n
\n Most of the 5 billion euros will be spent on expanding Uniper’s renewable and gas-fired power plant portfolio, the group said, adding it plans to have 15-20 gigawatts of generation capacity by 2030.<\/p>\n
\n At least half of that capacity is expected to be green, Uniper said, adding this would cover sources such as solar, wind and hydro, but also nuclear and new gas-fired power plants that can eventually run carbon neutral down the line.<\/p>\n
\n The company also said it plans to expand its liquefied natural gas portfolio to 250-300 terawatt hours a year over the medium-term.<\/p>\n
\n ($1 = 0.8570 euros)<\/p>\n
\n (Reporting by Christoph Steitz and Tom Kaeckenhoff. Additional reporting by Vera Eckert. Editing by Kirsti Knolle and Mark Potter)<\/p>\n","protected":false},"excerpt":{"rendered":"By Christoph Steitz and Tom K\u00e4ckenhoff FRANKFURT\/DUESSELDORF (Reuters) -Uniper will invest 5 billion euros ($5.8 billion) through 2030…\n","protected":false},"author":2,"featured_media":324725,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5310],"tags":[2000,299,1824,2441],"class_list":{"0":"post-324724","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-germany","8":"tag-eu","9":"tag-europe","10":"tag-germany","11":"tag-markets"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114986562586915339","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/324724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=324724"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/324724\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/324725"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=324724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=324724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=324724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}