Uniper

Outside of its home market of Germany, utility company Uniper operates in over 40 countries, with a particular focus on the Netherlands, Sweden and Britain. Its primary activity is gas procurement, trading and storage, although it also has 22.5 GW of power generation assets, roughly equal to the electricity demand of the Netherlands. At present this capacity is mostly in gas power, with nuclear and hydroelectric accounting for around 20%. Uniper still burns coal, but it is rapidly exiting, towards a target of 2029. It also provides business customers with carbon offsets and consultancy around decarbonization, and is pitching to be a major player in Europe’s nascent hydrogen economy. Düsseldorf-based Uniper was nationalized in 2022, following a €15 billion ($15.28 billion) bailout by the German government after Russia’s invasion of Ukraine.