Uniper pulls forward carbon neutrality goal to 2040

German nationalized energy group Uniper has brought forward its carbon neutrality goal to 2040, 10 years earlier than previously planned, it announced on Tuesday, reported dpa.

By 2030, Uniper aims to use more than 80% of its installed power plant capacity for CO2-free electricity production, it said.

The group plans to end electricity production from coal by 2029 at the latest, assuming the coal-fired power plant Datteln IV is sold by then.

Uniper is Germany's largest natural gas trader. It wants to gradually decarbonize its existing gas business through the use of green gases such as hydrogen, it said. The company also aims for "significant growth" in investments in solar and wind farms.

Barely eight months after the energy group was rescued through a far-reaching nationalization by the German state, the company sees itself recovering financially.

Uniper reported strong half-year figures for 2023, with adjusted earnings before interest and taxes (EBIT) of €3.7 billion ($4.1 billion) and adjusted net income of €2.5 billion.

For the full year, Uniper expects an adjusted net profit "in the medium single-digit billion range."

For 2022, Uniper had reported a loss of €7.4 billion. The improved financial situation is mainly due to much lower procurement prices in wholesale gas.