Uniper has reaffirmed its long-term transformation strategy, unveiling plans to invest approximately €5 billion between 2025 and 2030 to strengthen Europe’s energy system, with roughly half of the spending earmarked for Germany.

The investment program prioritizes flexible power generation, renewable energy projects and the expansion of the company’s gas supply portfolio as Europe balances decarbonization goals with energy security concerns. More than half of the planned capital expenditure will be directed toward flexible generation assets, including hydrogen-ready and carbon capture-ready gas-fired power plants.

Uniper intends to participate in Germany’s upcoming StromVKG capacity market tenders later this year with two hydrogen-ready power plant projects at Gelsenkirchen-Scholven and Staudinger, representing around 1.7 gigawatts of combined capacity. The company is also advancing projects in the UK, Sweden and the Netherlands, including the CCS-equipped Connah’s Quay project in Britain and the conversion of the Karlshamn plant in Sweden.

Around one-third of the investment program will fund the Green Generation division, where Uniper plans to continue expanding wind and solar capacity while modernizing hydropower assets. The company aims to approve investments averaging up to 500 MW of renewable projects annually, alongside developments such as the 160-MW Happurg pumped-storage project in Germany and hydropower upgrades along Sweden’s Ume River.

The company is also expanding its gas business, maintaining its target of growing its portfolio to 250-300 terawatt-hours through long-term supply agreements with producers including Woodside, Tourmaline, and ConocoPhillips. At the same time, Uniper continues investing in hydrogen infrastructure, highlighted by its participation in Germany’s Bad Lauchstädt Energy Park.

Beyond traditional energy assets, Uniper is targeting Europe’s rapidly expanding data center market as a new source of earnings. The company has identified more than ten suitable sites across Europe where it could lease land, develop infrastructure or provide long-term power purchase agreements and direct electricity supply to data center operators. Three projects are already at an advanced stage, while a first UK project has been completed.

CEO Michael Lewis said the strategy focuses investment where energy security, competitiveness and decarbonization intersect, adding that growing demand for reliable electricity from digital infrastructure creates new opportunities for the company.

The investment plans are supported by a strong financial position. Uniper ended last year with approximately €12 billion in equity and a net cash position of about €2.8 billion, while maintaining investment-grade credit ratings from S&P, Scope and Fitch.

The announcement comes as European utilities accelerate spending on flexible generation, hydrogen-ready infrastructure and renewable assets to support grid reliability while accommodating rising electricity demand from electrification, artificial intelligence and data centers. Uniper, which operates 18.5 GW of generating capacity and is one of Europe’s largest gas traders and LNG importers, is positioning itself to capitalize on those long-term structural trends.

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