Business and key financials

Uniper plans to contribute to decarbonization by increasing climate-neutral electrification and aims to significantly expand its green generation capacities. Uniper already has a significant portfolio of climate-neutral power generation. CO2-free energy sources currently account for around 20% of Uniper's generation capacity. These consist of the hydroelectric power plants in Germany and Sweden, which have a combined capacity of 3.6 GW, and nuclear power in Sweden, which has a generation capacity of 1.4 GW. Together, this results in annual electricity generation of approximately 23 TWh. At these plants, Uniper focuses on valueadded management and at the same time assesses whether further hydroelectric projects can meaningfully complement Uniper's green portfolio.

In addition, renewable energies will play a key role in Uniper's climate-neutral electricity generation in the future. Of the total investment volume of over eight billion euros in growth and transformation, a significant portion will be allocated to the development of the renewable electricity portfolio. Uniper plans to invest in the development, construction and operation of onshore wind and solar plants.

The "Flexible Generation" segment combines all generation capacities that contribute to ensuring grid stability and security of supply, making them key building blocks for the energy transition in Uniper's core markets.

Uniper currently owns and operates around 6 GW of hard coal-fired capacity in Europe. To achieve the reductions in emissions outlined above, Uniper has presented a shutdown plan for its hard coal-fired power plants that will save up to 18 million tons of CO2 per year. The decline in the flexible electricity generation capacity available on the market as a result of the coal phase-out and the simultaneous expansion of electricity generation from renewable energies increase the importance of flexible gas-fired power plants and and gas and steam plants for the energy transition. These plants should counter the increasing generation volatility in the electricity market and ensure the secure operation of the electricity supply systems. Uniper has around 9 GW of gas-fired power plants in Germany, the Netherlands, the United Kingdom and Hungary, making it well positioned to play an important role in the energy transition. Uniper will review options for converting the gas-fired power plants to run on alternative fuels such as biofuels and green hydrogen. In principle, Uniper is prepared to make considerable investments in new, modern and flexible power plants that provide for the possibility of subsequent decarbonization at the time of the investment decision. This also includes energy storage solutions.

Uniper remains a reliable partner for municipal utilities and industrial customers in the gas sector. With a volume of over 200 TWh of gas per year and over 0.9 TWh of biomethane per year, Uniper currently supplies around 1,000 customers, including numerous municipal utilities and industrial companies. Uniper considers one of its most important tasks to be further diversifying its gas portfolio in the future. Uniper is currently one of the largest gas storage operators in Europe with 7.3 billion cubic meters (m³) of gas storage capacity in its portfolio. Uniper continuously evaluates solutions to enable the conversion of existing storage facilities for the storage of hydrogen, provided that an economically scalable technical implementation is possible.

Uniper also aims to increase the proportion of green gases in its portfolio, which are expected to account for five to ten percent of the gas portfolio by 2030 in line with market developments. Green gases are also part of many customers' own decarbonization measures. Uniper will supply its customers with various green gas products such as hydrogen, biomethane and ammonia, thereby supporting decarbonization across Germany and Europe in addition to its own.

Green hydrogen in particular is also expected to contribute to the decarbonization of sectors that are difficult or impossible to electrify - such as chemicals, steel and aviation. These sectors require low-carbon gaseous and liquid fuels for decarbonization. As a hydrogen player, Uniper has many years of experience in the operation of hydrogen plants. Uniper is one of the first European utilities to use green hydrogen based on electrolysis processes. As part of its new strategy, Uniper views hydrogen as one of its strategic priorities. Uniper plans to build an installed electrolyzer capacity of over 1 GW by 2030. In addition, Uniper intends to promote the import of green energy sources.

Besides investing in onshore wind and solar, Uniper will further expand its already well-established portfolio of long-term solar and wind power purchase agreements (PPAs). These long-term PPAs create the basis for the direct purchase of electricity generated from renewable sources and enable Uniper to expand its renewable energy portfolio on the basis of long-term contracts.