SE has new €3.6bn loan, €800m net profit and will launch 4th Mochovce bloc in a year

Power generator Slovenské elektrárne (SE) signed a €3.6bn loan agreement with a syndicate of 20 banks led by UniCredit. The refinancing of existing liabilities in the form of three loans with maturities of 2-5 years will lift the lien on SE's assets and save the company €70m a year in interest. The refinancing follows the completion of the third bloc of the Mochovce nuclear power plant, which has substantially improved SE's financial situation. It cut its debts from €4.2bn in 2022 to last year’s €3.2bn. It also repaid €1.2bn it had taken out from Enel. (stvr.sk, dennikN.sk)

                    SE expects a net profit of €800m for last year, reckons its CEO Branislav Strýček. In 2023, the net profit was €559m, while in 2020 it nearly defaulted on its debts. According to Strýček, similar profits cannot be expected in the next few years because of falling power prices. (sme.sk)

                    SE wants to load fuel into the fourth bloc of the Mochovce nuclear power plant in the last quarter of this year and should start supplying electricity to the grid in early 2026, Strýček said. Slovakia will then further strengthen its position as a net exporter of electricity. SE sees power shortages especially in the Balkans.

(teraz.sk)