Business News

GEN-I plans investments worth EUR 1bn by 2030

Ljubljana, 09 June (STA) - GEN-I, an energy group specialised in electricity trading, plans investments worth a billion euro until 2030 in new technologies and digitalisation, including the construction of 1,000 MW of new solar power plants, according to a new strategic plan presented on Wednesday.

"Decarbonisation of Slovenian energy sector is possible by 2040, without jeopardising the reliability of supply," general manager Robert Golob said.

The new solar plants - roughly 20,000 of varying sizes are planned - would account for the realisation of a third of the goals that Slovenia has set for this period.

GEN-I will also invest in energy storage, in particular batteries but also hydrogen technologies. "As we connect the power plants to the grid, we will also help the grid handle the new connections," said Golob.

The group posted sales of EUR 2.1 billion last year and a net profit of EUR 15.4 million. The aim by 2030 is to increase annual revenue to EUR 7 billion, based on investments worth EUR 1.43 billion.

Digital technologies will play the key role and the company plans a specialised trading platform adapted to the inclusion of renewable energy sources.

"An increasing number of players who do not have the know-how on how to sell their power will be investing in renewables. We plan to make that possible for them via the trading platform," Golob said.

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