Uniper commits to deliver climate-neutral power generation in Europe by 2035

The Germany-based energy company will shift towards gas, hydrogen, and renewables and away from more carbon-intensive sources of power

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Renewable energy

Uniper has committed to deliver climate-neutral power generation in Europe by 2035.

The energy company based in Düsseldorf, Germany, has said its future strategy focuses on decarbonisation and reliable energy production, with its portfolio to shift towards gas, hydrogen, and renewables and away from more carbon-intensive sources of power.

It said it will invest roughly €1.2 billion (£1.05bn) in new growth projects between now and 2022 to accelerate the transition to a cleaner energy system and notes its new investment criteria stipulate that all future investment projects must “not only make business sense but also contribute to the achievement of the company’s decarbonisation targets.”

Uniper CEO Andreas Schierenbeck says: “Between now and 2040, global energy demand will increase significantly. At the same time, carbon emissions must be permanently reduced and the energy supply become climate-friendlier. Uniper’s unique portfolio enables it to be part of the solution to this global challenge.

“Our transition to a climate-friendlier company is well underway. We’ve set our strategic course to substantially accelerate decarbonisation. Uniper will play a leading role in a climate-friendly power and gas supply and help its customers decarbonise. And because the transition to a zero-emission future also requires the necessary financial resources, we’ll invest more in new, attractive business areas.”