Companies Uniper SE FollowGazprom PAO FollowDUESSELDORF, Aug 1 (Reuters) - Uniper (UN01.DE) announced plans on Tuesday to triple its green investments in the coming years as it confirmed strong financial results in the first half driven by favourable market conditions in a turnaround for Germany's bailed-out utility.
Uniper said it would invest 8 billion euros ($8.79 billion) through 2030 for its green transformation alone, triple its average annual investments of the past three years.
In May, it flagged profits of more than 2 billion euros expected from hedging its gas supply commitments.
Expecting no further financial losses from procuring replacement gas volumes, Uniper said on Tuesday no further capital increases from the German state would be necessary.
Its credit line from the KfW state lender has been reduced ahead of schedule to 11.5 billion euros from 16.5 billion euros, the company said.
Persons:
Germany's, Uniper, Michael Lewis, Vera Eckert, Rachel More, Friederike Heine, Muralikumar
Organizations:
Gazprom, Thomson