• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 11 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 7 days America should go after China but it should be done in a wise way.
  • 13 hours Even Shell Agrees with Climate Change!
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 2 days World could get rid of Putin and Russia but nobody is bold enough
  • 3 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 5 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
Can Anything Stop Bitcoin’s Bull Run?

Can Anything Stop Bitcoin’s Bull Run?

Bitcoin surged past $63,000, driven…

Germany’s Uniper To Invest $8.8 Billion In Green Energy By 2030

German energy giant Uniper, which was bailed out by the government last year, pledged on Tuesday to invest more than $8.8 billion (8 billion euros) in green energy by 2030 as it looks to become a greener energy provider faster than previously planned.     

Last year, Germany moved to save its energy companies which had been amassing losses with the lack of contracted Russian gas supply and the high price they had to pay on the spot market to replace lost Russian volumes.

Germany nationalized Uniper in September 2022 as it was looking to prevent a collapse of the German energy and gas suppliers.

In the first half of this year, Uniper booked “extraordinarily strong first-half earnings,” the company said today, benefitting to a great extent from hedging transactions for fossil-fueled power generation and its midstream gas business. Strong operating performance in a favorable market environment – with natural gas prices much lower this year – also helped the energy firm book strong earnings.   

“Uniper will be transformed into a greener company much faster than previously planned,” the energy giant said, adding that it plans 80% of its installed generating capacity to be zero-carbon by 2030, with significant growth in solar and wind.

The 8-billion-euro investment in Uniper’s green transformation through 2030 would be triple its average annual investments of the past three years.

Uniper also brought forward its target for its Scope 1 to 3 emissions to be carbon-neutral by 2040, ten years earlier than previously planned. It plans to achieve group-wide carbon neutrality for its Scope 1 and 2 emissions by 2035. 

“We’ve significantly diversified our gas procurement,” CEO Michael Lewis said in statement, adding that “Today I can therefore say with certainty that 2022 will not repeat itself for us. Our successful stabilization and financial recovery have again given us latitude for new growth and corporate transformation.”

ADVERTISEMENT

“We also want to become greener faster so that we can offer our customers bespoke energy solutions for their own transformation,” Uniper’s top executive noted.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News