Uniper targets data centres in strategy shift, plans €5 billion in investment

Uniper targets data centres in strategy shift, plans €5 billion in investment BERLIN, July 17 : Uniper reaffirmed its transformation strategy on Friday, targeting new revenue from data centers at its power plant sites as the German energy group plans to invest around €5 billion ($5.72 billion) by 2030 in flexible power generation and renewables. The company, which Germany bailed out during Europe's 2022 energy crisis, said it would focus more than half of planned investments on flexible power generation, with a particular emphasis on Germany. The announcement comes as Berlin prepares to sell its 99.12 per cent stake in Uniper, with potential buyers including Canada's CPPIB and Czech EPH expected to submit letters of interest by mid-June. DATA CENTRE OPPORTUNITY Uniper said rising demand for digital infrastructure creates growth opportunities, as growing power demand from data centers increases the need for reliable long-term electricity supply. The company has identified more than 10 of its own sites with suitable infrastructure located strategically along European data hubs. Three projects are already in advanced development, with further investment decisions expected this year. One project in Britain has already been completed. "The rising electricity demand from data centres requires powerful, reliable and long-term supply solutions," CEO Michael Lewis said in a statement. Uniper aims to generate additional revenue through structured power purchase agreements and, where economically viable, through direct supply from its own secured generation capacity. ($1 = 0.8741 euros)