SAPE estimates a profit of 6 million RON in 2024

SAPE SA (Energy Share Management Company) estimates a profit of 6 million RON and total revenues of 75 million RON for 2024. Total investments will approach the 30 million RON mark.

In 2024, SAPE completed the execution of the “Darvari 2” project, a photovoltaic power plant with an installed capacity of 5 MWh and an energy storage component of 1 MW, with financing through the PNRR.

The company also obtained non-refundable financing for the “Hydrogen HY S.A.P.E. 10” project, for the construction of a green hydrogen production facility.

Bogdan Nicolae Stănescu, President of the SAPE S.A. Board of Directors, said: “We estimate that this year we will exceed 6 million RON in profit, with an income of approximately 75 million RON, and the level of investments will approach 30 million RON, 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 RON, 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. (…) 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 revenue and profit margins by at least 10% higher than this year.

It was a year with many challenges, opportunities, successes, but also failures. I am referring to the rejection of the offers for 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 conditionalities. 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 conditionalities 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 implemented!

On the other hand, we are proud to be the first Romanian state company to complete an energy production project from PNRR – Dârvari funds. 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 Power 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 responds perfectly to our strategy, but it is also an investment of great importance 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 thermal energy, 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.”