Uniper Urges Germany to Accelerate Natural Gas Capacity Plans for Coal Phase-Out
Key Ideas
- Uniper advocates for the prompt awarding of tenders for new natural gas capacity to replace coal plants in Germany by the end of the decade.
- Germany aims to balance its energy mix by advancing the coal phase-out to 2030 and preparing for the conversion of gas power plants to hydrogen in the future.
- The country is exploring strategies to divest from Uniper, considering options like sale via the capital market post its rescue during the energy crisis.
- Uniper supports the idea of building new, cost-effective gas plants that can later be converted to hydrogen, aligning with Germany's energy goals.
Uniper, an international energy company, is pushing for Germany to expedite the development of new natural gas capacity to replace coal plants for the country's goal of phasing out coal in power generation by 2030. Germany recently offered tenders for 10GW of new natural gas-fired capacity, with plans for potential conversion to hydrogen in the 2030s. This move is part of Germany's strategy to ensure a stable electricity supply amid the growing presence of wind and solar power. With the closure of its nuclear power plants last year, Germany is now focusing on utilizing new gas power plants to maintain its energy balance. Uniper's CEO emphasized the need to close coal plants swiftly, build new gas plants, and eventually convert them to hydrogen. The company supports the idea of starting the auction process soon to kickstart the construction of these plants. Furthermore, the German Finance Ministry is exploring divestment strategies for Uniper, considering options like a sale via the capital market following the company's rescue during the Russian energy crisis. Uniper is aligned with the ministry's direction and is open to potential transaction possibilities.
Topics
Utilities
Renewable Energy
Energy Transition
Power Generation
Coal Phase-out
Electricity Supply
Gas-fired Capacity
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