Slovakia: Power utility company for sale, Italian energy giant considers selling its stake in Slovenské Elektrárne

9. July 2014. / SEE Energy News

The Rumors on the biggest sale of the Slovak energy company Slovenské Elektrárne (SE) have circulated for years. However, after the head of the Italian energy company Enel, which has a 66% of the stake in SE, said he was considering selling the shares, the rumors have become realistic. Enel plans to sell different assets worth 4.4 billion EUR to reduce debt for about 37 billion EUR.

Besides SE is worth about 3.8 billion EUR, including debt of around 1 billion EUR. The Slovak government, which has maintained 34% of the share in SE, has not yet received any official notification of the shares sale and, although it retained the Enel right of first refusal, the question is whether it has the financial ability to buy such a share in SE. The government has invested large funds in the completion of the third and fourth reactors at NE Mochovce, so it will have to consider who might get in the SE ownership structure as it will expect him to support the completion of the reactor. Otherwise, the overall strength of SE generating capacities is 5739 MW and precisely in 34 hydropower plants, two nuclear power plants, two thermal power plants and two photovoltaic power plants.

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