The State Energy Shares Management Company (SAPE) announces a preliminary profit that exceeds the estimates established at the beginning of the year by 30%, according to SAPE.
Total revenues will reach the threshold of 75 million lei at the end of the financial year, and the profit margin will remain at a high level, consolidating the company’s financial sustainability.
“Another noteworthy aspect is the significant contribution that the company made to the state budget. In 2024, SAPE transferred to the general consolidated budget in the form of dividends, fees, direct and indirect taxes and contributions totaling 30 million lei, thus demonstrating social responsibility and commitment to the community and the economy,” SAPE officials say.
The year 2024 was marked by several strategic achievements, which contributed to strengthening the company’s position on the market:
- Execution of the “Dârvari 2” project, a photovoltaic power plant with an installed capacity of 5 MWh and an energy storage component of 1 MW, the first completed project, which was developed by a state-owned company with non-reimbursable funds from the PNRR;
- Investments in innovative technologies, which will increase operational efficiency and allow for long-term cost reduction, by building a green hydrogen production facility. This project, “Hydrogen S.A.P.E. 10”, also qualified for financing from non-reimbursable funds.
The impact of the development of these projects is reflected in the creation of new jobs, contributing to the development of the local workforce and reducing unemployment in the area.
“We estimate that this year we will exceed 6 million lei in profit, with an income of approximately 75 million lei, and the level of investments will approach 30 million lei, a figure equal to that of the amounts transferred to the various state budgets. With a number of 49 employees, with an average net monthly salary of approximately 7,500 lei, SAPE achieves remarkable results, which motivate us to continue on the same upward trajectory. We appreciate the efforts of our team and the support of our business partners, which were essential for achieving these performances,” said Bogdan Nicolae Stănescu, President of the SAPE Directorate.
“It was a year with many challenges, with opportunities, with successes, but also with failures. I am referring to the rejection of the offers for the realization of the “Feasibility Study and Technical and Economic Documentation related to the investment objective of the Hydroelectric Power Plant with Pumped Storage (CHEAP) Tarnița – Lăpuștești”. We made every effort, we made the specifications more flexible, we hired experts in the hydropower field specifically for this tender. Unfortunately, the offers did not meet the requirements, so the Evaluation Committee had to reject them. In addition, the legislative framework did not help us either, especially the one regarding environmental conditions. Nor was there a clear, firm will assumed through a regulatory act, so that this project would be declared strategic, of national importance, and the environmental conditions would be easier to fulfill. I continue to strongly maintain that the Tarnița – Lăpuștești hydropower project is a necessity for the national energy system, for the energy security of the country, but also of the entire region, and that is why it must be realized!,” added Bogdan Nicolae Stănescu.
“On the other hand, we are proud to be the first Romanian state company to complete an energy production project from PNRR funds: Dârvari 2. We also managed to qualify for access to European funds for our hydrogen storage project. We regret that we were unable to obtain financing for the construction of the Titan thermal power plant from non-reimbursable funds. SAPE’s assumed objective is to build this thermal power plant, but with its own funds and bank loans. The Titan Power project perfectly meets our strategy, but it is also a very important investment for Bucharest residents, because it will provide hot water and heat, especially for residents of sector 3 of the capital. And, in a second stage, in addition to electricity and heat, it will also provide refrigerant. We really want to be the first company in the country owned by the Romanian state to build a trigeneration power plant of such capacity,” Stănescu also said.
“Also, this year we continued the activity of managing the state’s stakes in energy companies. One of the most important processes was the consolidation of the PPC Group’s distribution activities in Romania into a single entity, as well as the merger of the group’s two supply companies into a single company. It was a large, complex process, a successful process for PPC and which SAPE successfully completed on behalf of and in favor of the Romanian state, as well as the consumers in Romania.
“We look to the future with confidence and assume our mission to continue to bring value to shareholders, employees, the community and the national economy. Plans for the next year include additional investments in expanding production capacities, digitalization and developing new businesses. At the same time, in 2025, we aim to increase revenues and profit margins by at least 10% higher than this year.”
