Germany’s Uniper will triple its clean energy investments by 2030: German state-owned energy company Uniper will invest EUR 8 bn (c. USD 8.8 bn) through 2030 to fund its green transformation strategy, according to a statement. The financing plan — which is triple the company’s annual green investment over the past three years — aims to increase the company’s solar and wind energy generation capacity. Uniper plans to end coal-fired power generation by 2029, decarbonize 80% of its installed power capacity by 2030, and bring forward its carbon-neutrality target by 10 years to 2040.

REMEMBER- Uniper wants to establish a green hydrogen hub in MENA: Uniper signed anagreement with UAE renewables giant Masdar to develop a green hydrogen plant in the Emirates to be powered by 1.3 GW of solar energy last December. The plant is expected to generate green hydrogen by 2026 for export to the EU.

China approves six new nuclear reactors: The Chinese State Council has approved six new nuclear reactors worth USD 17 bn, Bloomberg reports. China’s nuclear generation portfolio is expected to continue expanding, on the back of Beijing approving 10 reactors last year. The move could potentially remedy uranium prices, which doubled since China resumed approvals for nuclear reactors in 2019.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • The US military snaps up eVTOLs: The US Air Force plans to purchase up to six electric air taxis from Archer Aviation worth up to USD 142 million. (Bloomberg)
  • Aging US grids are struggling with extreme weather: Climate-driven extreme weather is impacting aging US power grids causing an increasing amount of power blackouts per capita. Heat waves this month also led to the country’s largest power grid becoming overloaded due to a spike in AC use, and 40% of the US population are currently facing heat advisories. (Bloomberg)
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