Uniper strategy highlights Andreas Schierenbeck, CEO Uniper
Fortum Capital Market Day, December 3, 2020
Uniper at a glance
Our business | 100 years | |||
€863mn | ~34 GW | |||
Power Generation | ||||
Commodity Trading | Experience | Adj. EBIT1 | Generation capacity1 | |
Energy Storage | ~200 TWh | |||
~2000 TWh | ~400TWh | |||
Energy Sales | ||||
Energy Services | Energy Sales | Trading | LTC | |
Gas power plants
Hydro plants
Nuclear plants
Coal power plants
Energy sales to small and large customers
Gas storage | Regasification |
bookings | |
Trading
Gas infrastructure | Engineering |
Services |
1As of December 31, 2019 | 2 |
Uniper's evolutionary steps
Tightening the ship | Setting the sails | New Strategy |
2015 - 2017 | 2018 - 2019 | 2020 |
TSR
+200%
CO2 reduction
>36%
| Cash optimized | | Operations improved |
| Portfolio streamlined | | Growth in security of supply initiated |
| Rating secured | | Legacy projects put on home stretch |
| Transparency increased | | Track record of delivery established |
CO2
- Carbon-neutralin Europe by 2035
- World's 8th most valuable brand (utilities) according to BrandFinance
- Classified best employer amongst German utilities
- Best employee feedback ever
- TRIF ~ 50% lower than 2016
3
Driving decarbonization actively
European Generation | Global Commodities | Russian Power | ||
22.2
2 | |||
mt CO | |||
With our | |||
measures | 0 | ||
2019 | 2025 | 2030 | 2035 |
Carbon neutral by 2035 | Actively reduce carbon |
emissions |
4
Sustainability ambitions further increased
European Generation | Global Commodities | Russian Power | ||||
March 20 | Carbon neutral by | Actively reduce carbon emissions | ||||
2035 at the latest | ||||||
>50% emission | Scope 3 targets to be | Focus on RES | ||
reduction* by 2030 | developed in 2021 | capacity scheme | ||
Today
Implementation of TCFD framework
Commitment to become carbon neutral by 2050
*compared to 2019, including Scope 2 | 5 |
Strategy: Clear transition agenda
Coal
generation
EBIT |
2019 |
Decarbonize
- Exit path for hard coal and lignite fleet with aim to offer new business and employment prospects
- Improve carbon footprint of remaining fleet
- Materialize commercial value with brownfield site conversions
Gas generation &
gas midstream
EBIT |
2019 |
Expand & decarbonize
- Expand Customer Solutions business with industrial customers TSOs
- Materialize merchant upside of existing high efficient gas-firedpower generation
- Decarbonisation of gas flows as long- term goal with upside for existing generation and gas midstream
Carbon-free generation
EBIT |
2019 |
Expand
-
Expand carbon-free position by either
direct exposure to the renewable value chain or act as enabler of renewable projects - Key focus on sustainable portfolio transformation
Active de-risking | Leverage current portfolio | Explore new options | ||
6
Strategy: Clear transition agenda
Coal
generation
EBIT |
2019 |
Decarbonize
- Exit path for hard coal and lignite fleet with aim to offer new business and employment prospects
- Improve carbon footprint of remaining fleet
- Materialize commercial value with brownfield site conversions
Active de-risking
7
European Generation CO2-neutral by 2035
CO2 emissions of European Generation (net)
generation
50 | in mt | 44 |
45 | ||
40 | ||
35 |
30
Exit of >5 GW of fossil capacity -50% in Benelux, GER and France
Coal
25 | 22 | Main driver: Coal-exit | ||||
20 | -50% | |||||
15 | 11 | |||||
10 | ||||||
5 | CO2-neutral | |||||
0 | ||||||
2016 | 2019 | 2030 | 2035 | |||
Uniper start
8
Uniper coal exit plans per country
National coal exit plans
Coal generation | UK: | 2025 |
Netherlands: | 2029 | |
Germany: | 2038 | |
*end of commercial operations; technical end of operations subject to TSO decision
Uniper's coal fleet in Europe - Exit path
MW
8000
Heyden* | ► 875 MW | |||||
Schkopau | ► 900 MW | |||||
6000 | Scholven | ► 760 MW | ||||
Wilhelmshaven | ► 757 MW | |||||
4000 | Staudinger 5 | ► 510 MW | ||||
Ratcliffe | ► 2,000 MW | |||||
2000 | Maasvlakte 3 | ► 1,070 MW | ||||
0 | Datteln 4 | ► 1,050 MW | ||||
2020E | 2025E | 2030E | 2035E | 2040E |
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Transforming liabilities into opportunities
Coal generation
Site conversion to gas-fired plants
Site conversion to industrial hubs
New solutions e.g. Hydrogen and Renewables
Ratcliffe (2GW)
Protect and maximize land value - pursue options wider regional development context
Scholven (0.8GW)
Maximize land value and aim for additional industrial customers supplied from CHP, develop disentanglement program incl. demolition
Staudinger (0.5GW)
Expand heat business and develop site for new services, e.g. data center hub.
Maasvlakte (1.1GW)
Secure existing customers, generate ICS opportunities, secure future of site and increase flexibility
Wilhelmshaven/Huntorf (0.8GW) Attract new customers to sites and consider in light of new technologies (hydrogen), also in context of newproposed LNG terminal project nearby
Heyden (0.9GW)
Maximize land value and consider potential grid services beyond coal
10
Strategy: Clear transition agenda
Gas generation &
gas midstream
EBIT |
2019 |
Expand & decarbonize
- Expand Customer Solutions business with industrial customers TSOs
- Materialize merchant upside of existing high efficient gas-firedpower generation
- Decarbonisation of gas flows as long- term goal with upside for existing generation and gas midstream
Leverage current portfolio
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Uniper's gas business at a glance
Gas generation | Gas midstream | Gas infrastructure |
investments & |
~9 GW | gas storage |
Sales business | Gas fleet, |
contracts | |
~200 TWh | |
with TSOs | |
55bcm/a |
(up to10%*) |
Industrial | |
Customer | Power-2-gas |
Solutions, | |
Power-2-X | |
CHP | |
4.2 MW of operating | |
electrolysis |
16 bcm/a (20%)
Cavern Storage GER/UK 4.3 bcm
BBL |
36.5 bcm/a
(20%)
Nord |
Stream II |
OPAL |
Porous Rock Storage
GER/AT 3.4 bcm
Gas generation & gas midstream
Gas | Gas LTCs |
storage | |
~8 bcm | ~400 TWh |
Regasification | LNG supply |
4.7 bcm p.a. | ~35 TWh p.a. |
Transitgas
18 bcm/a
(3%)
Excluding Russia
*financial commitment | 12 |
Security of supply, customer centricity & decarbonization of our own fleet
Gas generation & gas midstream
Solutions for TSO customers | Solutions for industrial | Decarbonization | ||
customers | (Making Net Zero Possible) | |||
• Killingholme & Grain: four 6-year | • Scholven: Converting from coal to |
contracts to deliver innovative grid | gas, providing other energies (e.g. |
stability services | heat and pressure) to customers in |
• Irsching 6: Building new gas power | the region |
plant |
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Decarbonization requires sector coupling
Gas generation & gas midstream
European
Green Deal:
Net-zero greenhouse gas emissions
by 2050
Energy sector has lowered emissions by 35%
163.3 | ||||||||||||||
209.7 | ||||||||||||||
159.9 | ||||||||||||||
153.0 | ||||||||||||||
165.6 | ||||||||||||||
167.9 | ||||||||||||||
162.3 | ||||||||||||||
166.5 | ||||||||||||||
153.9 | ||||||||||||||
283.8 | 148.5 | |||||||||||||
130.0 | ||||||||||||||
123.4 | ||||||||||||||
191.6 | 116.6 | 125.1 | ||||||||||||
188.5 | 188.2 | |||||||||||||
197.7 | ||||||||||||||
194.9 | 176.2 | |||||||||||||
466.4 | ||||||||||||||
397.4 | 369.4 | 343.4 | 322.5 | 305.1 | 300.7 | |||||||||
1990 | 2005 | 2010 | 2016 | 2017* | 2018* | 2020 |
Mio t CO2 e | ||||||
Energy sector | Industry | |||||
Buildings | Transportation |
Electrification and hydrogen needed
*Source: Calculations of the Öko-Institut, Fraunhofer and IREES. | 14 |
*Data for 2017 and 2018 from current inventory data (UBA 2020). |
Gas generation & gas midstream
Hydrogen imports will be needed
H2 | ||
German green | German Hydrogen | |
hydrogen production | demand | |
planned to be at | is projected at around | |
14 TWh | 90-100 TWh | |
Gap 2030 ≥ 76 TWh
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Technology openness is key
Renewables | Power-to-Gas | Green Hydrogen H2 | ||
Direct Use | ||||
Elektrolyse | ||||
Wind | H2O | |||
midstream | Biogas | |||
Power | H2 | |||
O2 | ||||
Sun | 100% | |||
CO2 | ||||
gas | SNG | |||
Methanation | ||||
& | ||||
generation | Gas Splitting / Reformation + CC(U)S | |||
Gas Splitting | Turquoise hydrogen (H2) | |||
Gas | CH4 | Direct Use | ||
Power | ||||
Natural gas | C | |||
Reformation + CC(U)S | H2 | Blue Hydrogen (H2) | ||
Direct Use |
CO2 | CH4 | H2O |
Sector Coupling
Blended into | Industry |
natural gas | |
Natural gas grid: | Mobility |
Storage/transportation | |
Heat | |
Blended into | |
natural gas | |
Electricity |
H2O (water), H2 (hydrogen), CO2 (carbon dioxide), SNG (Synthetic Natural Gas), CH4 (methane), C (solid carbon), CC(U)S (Carbon Capture (Utilisation) and Storage) | 16 |
Uniper's infrastructure and trading skills ideal to meet (import) demand for the switch to hydrogen
Gas generation & gas midstream
Sales business ~200 TWh
Industrial
Customer
Solutions,
CHP
Gas storage ~8 bcm
Regasification 4.7 bcm p.a.
Gas fleet, contracts with TSOs
Power-2-gas
Power-2-X
4.2 MW of operating electrolysis
Gas LTCs
~400 TWh
LNG supply ~35 TWh p.a.
- Global Origination team well positioned to commercialize hydrogen activities
- Infrastructure can deal with an increasing amount of hydrogen today
- Already substantial experience in operating hydrogen facilities in MW class
- Current projects envisage multi-MWelectrolyser and blue hydrogen assets and storing hydrogen in underground cavern storage
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Gas generation & gas midstream
Our hydrogen project pipeline
Humber H2 H2
Wilhelmshaven
H2 H2 Connah's Quay
Humber | Epe | |||||
North Wales | Hamburg | |||||
Wilhelmshaven | ||||||
Ilse of Grain | Rotterdam | Falkenhagen | ||||
Epe | ||||||
Saxony-Anhalt | ||||||
Scholven | ||||||
H2 Grain | ||||||
H2 | H2 Maasvlakte | Bierwang | ||||
Existing plant | H2 Green hydrogen | H2 Blue hydrogen | Cavern storage | |||
Planned project | Porous rock storage | Power plant | Power-to-Gas-to-Fuels |
H2 chemical industry H2
Power-to-Gas Hamburg
H2 for mobility H2
Power-to-Gas Falkenhagen | |
Store&Go methanation | H2 |
Bad LauchstädtH2
Scholven
Bierwang
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First-of-a-kind large scale commercial size project - largest hydrogen electrolysis unit installed in the Chemical sector1
Gas generation & gas midstream
Renewable | Biogas | CO2 & Circular | |||
energy | streams | ||||
+ | |||||
Waste | HH | ||||
water | Electrolysis | Methanol | |||
22 | |||||
treatment | 25 MWel | O2 | Syngas | Perstorp | |
plant | O2 | ||||
Perstorp | H2 | Supply: 3500 tonnes/annum | |||
"One Team Approach" | GHG reduction2: 500 ktCO2/annum |
Production of renewable methanol using renewable hydrogen, biogas, CO2 and residue streams. First large-scale plant in the world that uses recycled wastewater to produce hydrogen.
1It is probably the world's largest plant. We are investigating it. | 19 |
2GHG reduction for entire project, including CCU and residue streams |
Strategy: Clear transition agenda
Carbon-free generation
EBIT |
2019 |
Expand
• Expand carbon-free position by either direct exposure to the renewable value chain or act as enabler of renewable projects
• Key focus on sustainable portfolio transformation
Explore new options
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Grow CO2-free power generation
Maintain & optimize | Enter & expand |
Continue to expand
generation
Nordic hydro and physical trading optimization. Cooperation with Fortum creates value and benefits for both companies, O&M savings: "One Team Approach"
Kickstart a large-scale sun and wind power generation portfolio, capturing the potential on owned sites. Cooperating with Fortum brings additional expertise and resources benefiting both companies: "One Team Approach"
Subsidy-free market in Europe offers growth opportunities in PPAs
Carbon-free
1.4 GW
≥1-3 GW | |
3.6 GW | in the midterm |
Contractual
Assets
Greener focus
5 TWh p.a.
by 2023
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Uniper is developing a renewables portfolio
Carbon-free generation
Space | Permitting | Grid connection | Green hydrogen + Trading |
On and aroundexisting assets | Embedded in local communities | Grid headroom on powerplants |
3 GW | |
1 GW | |
short-term | medium-term |
<2025 | >2025 |
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Deutsche Bahn and Uniper assessing decarbonization options in addition to today's CO2-free hydro power supply
Carbon-free generation
From coal… | …to renewables… | |
Opencast lignite | Re-naturalisation | |
mine closed in 1988 | and re-purposing | |
• Assessing the installation of a | ||
20-40 MW floating photovoltaic | ||
system | ||
…and more
Enabler of sector coupling
- Testing potential for hydrogen reconversion in several existing locations
- Exchange on strategic orientation in the field of e-mobility.
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Empowering Energy Evolution: Wilhelmshaven potential
From coal… | …to Gas… | |
Shutdown of coal | Security of supply | |
site by 2022 | ||
• | LNG/H2 terminal planned | |
• | Nearby gas storage in Etzel |
Gas connection
• Already existing gas network nearby
• Existing hydrogen pipeline to Scholven
…to Hydrogen
Enabler of sector coupling
- Technology partnerships for H2 - like the Salzgitter/Rhenus cooperation for the direct reduction of iron ore.
- Arrange H2 infrastructure to supply the Wilhelmshaven/Huntorf region in cooperation with regional partners (e.g. EWE).
- Enable long term H2 import opportunities via deep seaport connection.
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Uniper SE published this content on 04 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 December 2020 09:02:02 UTC