Slovenia: Higher profit at GEN Group in 2020

, SEE Energy News

GEN Group’s revenues in 2020 amounted to 2.2 billion euros, while its net profit reached 64.2 million euros, which is 33 % higher compared to the previous year.

The production units of the companies from the GEN Group operated without downtime and produced 3,674 GWh of electricity, which is 1 % more than planned. Nuclear power plant Krsko mostly operated in stable and safe conditions and at full power producing a total of 6,040 GWh of electricity in 2020, of which half was delivered to Croatia.

Despite the below-average hydrological conditions, the hydropower plants on the Sava river operated reliably and produced a total of 851 GWh, of which 595 GWh was sold on the free market. In the marketing and sales department, GEN-I successfully adapted to dynamic market conditions and in 2020 exceeded the market share of 25 % for the first time, thus confirming its position as the largest electricity supplier in Slovenia.

Also in 2020, the GEN Group invested a total of 104.6 million euros, TPP Brestanica has successfully completed the project for the construction of gas-fired unit 7, while HESS has continued preparations for the construction of the last HPP Mokrice. Also, as part of the strategic development project – the construction of the second unit at NPP Krsko, the company submitted to the Ministry of Environment an application for an energy permit and an update with the opinion or general consent from transmission system operator ELES.