Romanian state-owned hydropower producer Hidroelectrica claimed the top spot in the ranking of the most profitable companies among the SEE TOP 100 entrants for 2020 for a second year in a row. Hidroelectrica’s return on revenue rose to 36.9% from 32.27% a year earlier. In 2020, the company sold 14.58 Twh of its own electricity production, 1.3% less than in 2019, while total electricity sales edged up 0.7%, to 15.96 Twh. In 2020, a two-year ban on the sale of state-held stakes in companies enforced by the government delayed the planned initial public offering (IPO) of Hidroelectrica. The IPO of a 10-15% stake in the company is expected to be the biggest in Romania’s history, seen fetching up to 1 billion euro. The company has in its portfolio 209 hydropower plants with a total installed capacity of 6,482 MW.
Energy companies hold the top three spots in the 2020 ranking of SEE companies by revenue per capita, led by Slovenia’s Petrol, which had the highest revenue per capita for the fourteenth consecutive year. The company decreased its revenue per capita to 1,176 euro in 2020 from 1,747 euro in 2019.
Zagorka, a leading Bulgarian brewer and part of the Heineken group, is implementing a long-term sustainability platform “Brewing a better world” which aims to focus on six key areas – protection of water resources, reducing carbon emissions, growing with ...
Under the European Union’s (EU) 20/20/20 climate and energy targets Romania, Bulgaria and Greece have to boost the share of renewables in their energy mixes to 24%, 16% and 18%, respectively. The countries have chosen different mechanisms to achieve these goals and each one is struggling with its own challenges.