Slovenian power producer HSE fully repays 492 mln euro cap injection

HSE has repaid the last 75 million euro installment of the funding provided by SDH to bridge the bridge its liquidity gap at the end of 2022, the company said in a statement.

"We have been able to return all 492 million euro after only a year and a half in addition to supplying electricity to our customers at regulated prices," HSE general director Tomaz Stokelj said.

The quick repayment of the debt to the state enables HSE to accelerate the construction of photovoltaic, wind and hydropower plants, invest in hydrogen technologies, geothermal energy, biomass and technologies related to flexibility, digitalisation, e-mobility, smart networks, storage tanks and virtual power plants, the company noted.

SDH injected 492 million euro in the capital of HSE in December 2022 to enable the company to independently and efficiently manage electricity production. In March 2023, HSE said it plans to repay the capital injection in full by the end of 2024.

HSE, fully-owned by the Slovenian state, faced a 460 million euro damage in 2022 due to a drop of 36% in the output of hydropower plants caused by dry weather, the temporary shutdown of Unit 6 of Sostanj thermal power plant and increased imports of electricity at high prices.

($ = 0.92344 euro)