Slovenian sovereign holding company SDH has invested EUR 300 million in the capital of state-owned electricity producer Holding Slovenske elektrarne (HSE) to enable the company to bridge its liquidity deficit, HSE announced.
SDH intends to make an additional capital injection in HSE of 192 million euros on December 15, subject to the approval of the Slovenian government, according to a statement from the state-owned electricity producer published on Monday.
The capital injection will enable HSE to independently and efficiently manage electricity production even in the period of the energy crisis and extremely increased requirements for financial coverage, and therefore to ensure a competitive supply of electricity, the company announced.
In 2022, HSE suffered a loss of 460 million euros due to 36% less production of hydroelectric power plants due to poor hydrology, temporary shutdown of unit 6 of the Šoštanj thermal power plant, and increased import of electricity at high prices.
Due to the high indebtedness of the HSE Group, which is being withdrawn after the construction of unit 6 of the Šoštanj TPP, as well as difficult market conditions, despite the already approved state guarantee in the amount of 800 million euros, HSE has so far managed to obtain only 185 million euros in loans from commercial banks. stated the state electricity producer.