Uniper is postponing its €8bn investment in green technologies and putting back its Scope 1 and 2 carbon neutrality targets by five years to 2040.
The utility company cited a ‘sluggish’ hydrogen economy, falling energy prices and regulatory framework that is developing slower than anticipated.
“As of today, there are few major customers looking for green hydrogen and interested in entering into corresponding supply contracts,” it said in a statement. Uniper generated adjusted EBITDA of €2.1bn in the first nine months of 2024, far below the prior-year figure of €6bn.
The green investment will now occur “into the early 2030s” as opposed to 2030 itself.
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