Key facts
- Uniper plans to invest approximately €5 billion by 2030 in data centers and flexible power generation.
- The company aims to meet the rising electricity demand from data centers.
- Over half of the investment will be directed towards flexible power generation, primarily in Germany.
- Uniper has identified more than 10 of its own power plant sites suitable for data center development.
- One data center project in Britain has already been completed.
Uniper, a German energy company that received a bailout during Europe's 2022 energy crisis, is shifting its strategy to focus on data centers and flexible power generation. The company announced plans to invest approximately €5 billion by 2030, with more than half earmarked for flexible power generation, particularly in Germany, alongside renewables.
This strategic pivot is driven by the increasing demand for electricity from data centers, fueled by the growth of AI. Uniper sees this as a significant revenue opportunity, aiming to provide reliable, long-term electricity supply solutions. The company has identified over 10 of its existing power plant sites as suitable for hosting data centers, leveraging existing infrastructure, grid connections, and permits. Three projects are in advanced development, and one in Britain has already been completed.
Uniper intends to generate revenue through structured power purchase agreements and direct supply from its own generation capacity, seeking more stable, contracted cash flows. This approach is partly a response to the company's near-collapse in 2022 due to supply cuts from Russia. The German government, which still holds a 99.12% stake in Uniper, is preparing to sell its share, with potential buyers including Canada's CPPIB and Czech EPH expected to submit letters of interest.