German energy group Uniper SE has announced a delay in its ambitious EUR 8 billion investment in green energy transformation, now expecting completion in the early 2030s rather than by 2030.
The shift stems from weaker-than-anticipated demand for green hydrogen and a slower regulatory landscape, the company revealed in its third-quarter report.
Uniper highlighted the scarcity of major customers for green hydrogen willing to commit to supply contracts, adding, “Uniper will only invest in projects that are based on a viable business case and that are expected to generate an appropriate return on investment.”
The regulatory framework for Germany's energy transition has been slower to take shape than anticipated, with the first government auction for decarbonization projects now expected by mid-2025, a year later than projected.
While Uniper continues to experience market challenges, the company reaffirmed its commitment to a carbon-neutral target by 2040 and aims to cut Scope 1 and Scope 2 emissions by over 55% by 2030, compared to 2019 levels.
