Rescued German giant unveils $9bn green push as Uniper CEO promises 'no repeat of 2022'
Utility bailed out amid energy crisis plots accelerated transition strategy with 'significantly more' wind and solar
German utility Uniper unveiled plans for a major expansion into wind and solar as part of an accelerated green transition strategy underpinned by €8bn ($8.8bn) of investment by 2030.
“We have more than 1GW of secured projects as well as an early-stage pipeline of 4GW. This puts us well on our way.”
Lewis did not specify the amount of new renewable capacity it is targeting but said it would be “significantly more”.
The Uniper CEO also flagged a key role for power purchase agreements: “PPAs enable us to provide investment security for developers of solar and wind projects. They’re therefore just as important for the energy transition as direct investments. Green PPAs also enable us to support our customers’ decarbonisation plans.”
Energy storage will also play a key role in the new strategy.
Uniper now plans to have a 15-20GW generation fleet by 2030 that is “80% green”. As well as renewables, Uniper includes nuclear, hydro and “clean gas and derivatives” in the mix, with the remaining 20% coming from unabated gas. The group said it now plans to phase out coal by 2029 at the latest.
Lewis said: “The crisis last year demonstrated the central role Uniper plays in the energy market. We were financially stabilised by the German Federal Government just under eight months ago, and only a short time afterward we achieved the turnaround.
“Today I can therefore say with certainty that 2022 will not repeat itself for us. Our successful stabilisation and financial recovery have again given us latitude for new growth and corporate transformation.”
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