A view of the Uniper headquarters. Federico Gambarini\/dpa <\/p>\n
German energy company Uniper said on Thursday that it is significantly slowing down the transformation of its European power plant portfolio towards climate neutrality.<\/p>\n
The Dusseldorf-based firm had aimed to increase its share of green electricity production to 80% by 2030, but has now reduced that to 50%, the company said during a presentation of its half-year results.<\/p>\n
However the goal of achieving climate neutrality by 2040 remains unchanged, a spokesman said.<\/p>\n
“The regulatory and geopolitical environment is challenging,” Uniper chief executive Michael Lewis explained in the statement.<\/p>\n
While Uniper welcomes the German government’s plans to build new gas-fired power plants, “the delay in the auction process and thus in the construction of new power plants will postpone potential revenues from these projects until later years.”<\/p>\n
Additionally, “the ramp-up of the hydrogen economy will also be slower than expected,” Lewis said, prompting the company to adjust its plans.<\/p>\n
Uniper plans new gas-fired power plants<\/strong><\/p>\n Uniper is one of Europe’s largest electricity generation and gas trading companies.<\/p>\n The company currently operates coal and gas power plants, primarily in Germany, the United Kingdom and Sweden, with a total generation capacity of over 14 gigawatts, equivalent to 14 large coal-fired power plants.<\/p>\n Another 5 gigawatts come from hydropower and nuclear power generation in Germany and Sweden.<\/p>\n By 2030, Uniper expects a total generation capacity of 15 to 20 gigawatts.<\/p>\n Uniper confirmed earlier statements that it plans to invest around \u20ac8 billion ($9.3 billion) in energy transformation by the early 2030s, with approximately \u20ac5 billion of that to be spent by 2030.<\/p>\n The company reiterated its intention to participate in the German government’s planned tender for new gas-fired power plants.<\/p>\n In the United Kingdom, Uniper is planning to build two new gas-fired power plants, Connah\u2019s Quay and Killingholme, with the capability for carbon capture and storage.<\/p>\n Germany must reduce its stake in Uniper by 2028<\/strong><\/p>\n Uniper, Germany’s largest gas importer, faced financial difficulties in 2022 when Russia stopped gas deliveries following its attack on Ukraine.<\/p>\n The German government rescued the company with billions in subsidies and became its majority owner with over 99% of shares but is required to reduce its stake to a maximum of 25% plus one share by the end of 2028.<\/p>\n","protected":false},"excerpt":{"rendered":"A view of the Uniper headquarters. Federico Gambarini\/dpa German energy company Uniper said on Thursday that it is…\n","protected":false},"author":2,"featured_media":327102,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5310],"tags":[2000,299,117934,8387,1824,117935,117933],"class_list":{"0":"post-327101","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-german-energy-company","11":"tag-german-government","12":"tag-germany","13":"tag-michael-lewis","14":"tag-power-plant"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114991536833992243","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/327101","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=327101"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/327101\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/327102"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=327101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=327101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=327101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}