International energy company #Uniper intends to gradually decarbonize its gas business by using green gases like hydrogen, company stated. In line with market developments, the company aims for 5% to 10% of its portfolio to consist of green gases by 2030. It will also continue to repurpose some of its existing gas storage facilities for #hydrogen storage.
Uniper will invest more than €8 billion through 2030 for its green transformation alone. This is triple its average annual investments of the past three years.
Uniper mapped out plans to move away from fossil fuels with billions of euros in green investments.
CEO Michael Lewis presented plans to invest 8 billion euros ($8.79 billion) through 2030 on a green transformation, triple the company’s average annual investments of the past three years.
The planned transformation consists of decarbonising Uniper’s existing power and gas assets and building up new ones.
“This will enable us to create a system that ensures continuity while allowing flexibility,” the CEO said at a press conference.
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.
Uniper’s new strategy also includes targeted growth in solar and wind farms, with 80% of Uniper’s installed generating capacity to be zero-carbon by 2030, the company said, adding it would end coal-fired power generation by 2029 at the latest.
In solar and wind power, Uniper has more than 1 gigawatt (GW) of secured projects as well as early-stage plans for four more gigawatts, Reuters reported.
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