Slovenian state-owned electricity producer HSE recorded a net profit in the amount of 7.1 million euros in 2021, significantly lower compared to a profit of 184.2 million euros recorded in 2020.
HSE’s sales revenues increased to 2.54 billion euros in 2021 from 1.859 billion euros in the previous year, while its EBITDA rose to 330.2 million euros, compared to 187.8 million euros in 2020.
The main reason for the rise in EBITDA was the 231.8 million euros in compensation that the subsidiary which operates coal-fired thermal power plant Sostanj (TES) received from General Electric Group, the legal successor of Alstom, following an out-of-court settlement regarding the construction of unit 6. Without that compensation, last year’s EBITDA would have been 52 % than that in 2020.
HSE is the largest producer of electricity from renewable sources in Slovenia: in 2020 it produced as much as 88 % of all electricity from renewable sources in the country, but usually averages around 70 %. This production is mostly hydro-based, but recently HSE commissioned the largest solar power plant in Slovenia – 3.04 MW Prapretno solar power plant near Hrastnik.
