FAMAGUSTA GAZETTE – German energy company Uniper said Thursday it will significantly reduce its green energy targets, citing regulatory delays and geopolitical uncertainty.
The Düsseldorf-based firm, one of Europe’s largest electricity producers and gas traders, had previously aimed to increase its share of green power production to 80% by 2030. That goal has now been lowered to 50%, according to the company’s half-year results presentation.
“The regulatory and geopolitical environment is challenging,” Uniper CEO Michael Lewis said in a statement.
Despite the setback, Uniper said its broader goal of achieving climate neutrality by 2040 remains unchanged.
The company currently operates coal and gas power plants across Germany, the United Kingdom and Sweden, with a total generation capacity of over 14 gigawatts.
Another 5 gigawatts come from hydropower and nuclear facilities.