Uniper to sell 20% OPAL stake to Hy24
- Sale transfers 100% of Lubmin‑Brandov Assets GmbH & Co. KG, which holds a 20% co‑ownership in OPAL.
- The buyer is acquiring the stake via its Clean Hydrogen Infrastructure Fund.
- The divestment is a structural remedy tied to the EU Commission approval of Uniper’s stabilization package (Dec 20, 2022).
- OPAL spans ~470 km; northern section converted to Germany's hydrogen core network mid‑Dec 2025, southern section expected by end‑2030; deal subject to regulatory approvals and a co‑owner pre‑emption right.
Deal structure
Uniper has signed an agreement to sell its 20% stake in the OPAL pipeline by divesting 100% of the shares in Lubmin‑Brandov Assets GmbH & Co. KG. The buyer will acquire the stake via its Clean Hydrogen Infrastructure Fund.
Ownership
Lubmin‑Brandov Assets GmbH & Co. KG holds the 20% co‑ownership interest in OPAL; the remaining 80% is held by GASCADE Gastransport GmbH.
Regulatory context
The divestment forms part of structural remedies Uniper must fulfil under EU state‑aid law following the EU Commission’s approval of Uniper’s stabilization package on 20 December 2022. The sale also supports alignment of Uniper’s portfolio with its strategic core activities.
Pipeline and conditions
OPAL is roughly 470 km from Lubmin (Germany) to Brandov (Czech Republic). As part of Germany’s hydrogen core network, OPAL’s northern section was converted in mid‑December 2025 and the southern section is expected to follow by the end of 2030. Completion of the transaction is subject to required regulatory approvals and the non‑execution of a pre‑emption right by the fractional co‑owner.
Source: Uniper