Uniper plans to return to talks on selling Unipro; currently no contacts with management in Russia to date - CEO

MOSCOW. Feb 25 (Interfax) - Uniper has not had any contact with the management of its PJSC Unipro subsidiary in Russia, Michael Lewis, CEO of the German energy holding, said.

Uniper lost operational control over the Russian asset in 2022 and deconsolidated it, Lewis recalled.

Uniper could approach talks on selling Unipro when the "right time" comes, he said.

Uniper cannot sell the asset without the permission of the Russian government, Lewis said.

Uniper valued Unipro at 1 euro in its 2024 financial report owing to the high uncertainty regarding the sale price that could actually be achieved.

Unipro owns five thermal power plants in Russia with total capacity of 11,300 MW. Germany's Uniper energy holding owns 83.73% of the company's shares, which Russia's Federal Property Management Agency (Rosimuschestvo) has managed since April 2023. Uniper last spring said that it effectively had not been able to exercise operational control over the Russian asset since the end of 2022.