Germany utility Uniper intends to invest about €8bn in its transformation by the early 2030s as it continues to wrestle with major financial challenges.
It recorded adjusted EBITDA of €379m in the first half of 2025, significantly below its prior-year earnings of €1.7bn, and adjusted net income totalled €135m, down from €1.1bn. The company repaid €2.6bn state aid to the German government in March.
Its power business will participate in the German government’s planned auction for new gas-fired power plants in the country. In the UK, Uniper plans to build two new gas-fired power plants, at Connah’s Quay and Killingholme, that could be equipped with carbon capture and storage.
Connah’s Quay Low Carbon Power project was, earlier this week, confirmed by the UK government as a priority project in the HyNet cluster and Uniper is now entering into negotiations to develop a gas-fired power plant with carbon capture.
Uniper plans to expand its gas and LNG portfolio over the medium term, primarily through long-term contracts, to up to 300 terawatt-hours (TWh) per year, and aims to consolidate its position of 180 TWh to 200 TWh per year in Germany, Austria, and Switzerland and to “selectively expand” its LNG sales activities in Asia.
Uniper CEO Michael Lewis said the regulatory and geopolitical environment was challenging.
“We welcome the German government’s plans to build new gas-fired power plants. However, 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,” he said.
“The ramp-up of the hydrogen economy will also be slower than expected. Consequently, we have decided to sharpen the strategic focus of our portfolio through 2030 even more on activities and projects that generate reliable earnings streams.”