Hit by unprecedentedly high gas prices, German utility Uniper, a subsidiary of Finland’s Fortum, has taken precautionary financing measures to secure its liquidity in volatile markets as it attempts to fashion a future in renewables and green hydrogen.

To manage further volatility and price increases, Fortum has provided Uniper with intra-group financing in the format of a credit facility agreement of up to €8bn ($9bn) on arm’s length terms. The credit facility comprises of a shareholder loan and a parent company guarantee.