Exclusive: Commodity trader ResInvest in talks to buy Uniper's Datteln 4 power plant

Commodity trader ResInvest Group is in advanced talks to acquire Uniper's 1-gigawatt Datteln 4 coal-fired power plant for an estimated €1 billion, a key divestment mandated by EU conditions for Uniper's 2022 government bailout. This potential sale, which could conclude by week's end, is critical for Uniper's restructuring efforts and simultaneously expands ResInvest's growing portfolio of energy and raw material assets, following recent acquisitions of coal plants in Poland and stakes in mining and shipping firms.

Analysis

Uniper is advancing in its mandatory restructuring with confirmed talks to sell its 1.052 GW Datteln 4 coal-fired power plant to commodity trader ResInvest Group. This divestment is a critical requirement stipulated by the European Union following Uniper's €13.5 billion government bailout in 2022, with a firm deadline of end-2026. As the most valuable asset on Uniper's disposal list, a successful sale would mark a significant de-risking event and a major step towards fulfilling its bailout conditions. Sources indicate a potential valuation of approximately €1 billion, a notable discount to the plant's €1.5 billion construction cost, but a substantial capital realization for Uniper. The timeline appears accelerated, with discussions potentially concluding this week, which is well ahead of the previously guided expectation of progress in the second half of 2025. For ResInvest, this acquisition represents a strategic expansion of its energy and raw materials portfolio, complementing recent purchases of coal plants in Poland and investments in mining and shipping, thereby positioning it as a key consolidator of conventional energy assets.

Key Decisions for Investors

• A definitive sale of Datteln 4 would be a positive catalyst for Uniper (UN0k.DE), fulfilling a key bailout condition and removing significant regulatory overhang ahead of the 2026 deadline.
• The potential €1 billion valuation, representing a notable discount to the plant's construction cost, serves as a crucial pricing benchmark for modern coal-fired power assets in Europe that investors should consider when re-evaluating similar holdings.
• ResInvest's aggressive acquisition strategy in conventional energy highlights a private capital trend of consolidating divested fossil fuel assets, signaling a belief in their continued profitability that may present opportunities among other divesting utilities.