JEK2 project

The confluence of the climate and energy crises has led to significant changes in conditions on the European energy market. Dependence on energy imports has proven to be one of the key obstacles to the country’s strategic development, and the reasons for strengthening electricity self-sufficiency are more relevant than ever before.

JEK2 is the GEN Group’s core strategic development project

The energy crisis of the last year has highlighted the need for a more efficient and closer link between electricity production and consumption. For this reason, we are consolidating our development paradigm in the direction of:

  1. Generating free cash flows through the production and reliable supply of our customers and
    international trading, and channelling those cash flows into
  2. investments in nuclear technologies, and
  3. in renewable energy sources, flexibility and advanced services.

The core development project of the GEN Group is the construction of a second nuclear power plant unit (JEK2), which will facilitate long-term energy independence.

Long-term investment in the safe and reliable supply of low-carbon electricity

JEK2 is a long-term and intergenerational project that will contribute to the quality of electricity supply in Slovenia for decades to come. The JEK2 project represents a long-term investment in a modern nuclear power plant with a life cycle of more than 60 years. The new nuclear power plant will thus provide a reliable supply of low-carbon electricity at a stable and predictable price for many decades, and will thus promote economic and social development, and improve the quality of life of all Slovenian citizens.

Given the level of investment required for the construction of JEK2, in this stage of the project we are studying different financing models and international practices in the area of financing models, which include private equity and varying shares of corporate equity contributions, debt capital and other sources. The results of this analysis will facilitate discussions about the specific financial construction of the JEK2 project.