Komazec: GGE regional expansion strongly supported by its strategic partners
GGE’s plan to become regional energy leader providing integrated energy solutions both in Slovenia and other markets of SEE region, as well as its EUR 170 million investment plan for the next five years is bein strongly supported by its owners and new investors.
GGE’s primary focus ever since its establishment in 2011 has been energy performance contracting, both in Slovenia and SEE. This year, the company plans to expand to other energy fields, aiming “to become an energy leader providing integrated energy solutions in the local and foreign markets in the region”, says Luka Komazec, Managing Director of Slovenian company GGE in an interview for Energetika.net portal.
“GGE will offer its customers across the region three sets of energy solutions: renewable energy (Heat & Power division), energy management (Demand Side Management division), and energy performance contracting (ESCO),” Komazec explained.
Company’s portfolio of ongoing and planned projects spans over many countries of the region: GGE is in the last phase of talks with an international hotel chain in Slovenia for investment in energy cost optimisation, it is bidding for a contract to increase the energy performance of public buildings in Slovenia’s capital, Ljubljana, while in the Serbian market, GGE is working on energy efficiency measures in Mercator shopping centres.
According to Komazec, the company plans to invest EUR 20 million in green retrofitting of buildings over the next three years, and EUR 150 million in renewable energy in South East Europe over the next five years.
“Serbia and Croatia are the countries where we have recognised our biggest opportunities in renewables”, Komazec said. He explained that the company plans to invest in biomass and biogas fueled power plants and added that in the development of these projects GGE is working with one of its owners, a U.S. fund with extensive experience in investing in wind power across Europe and Australia. “Essentially, this means we have the support of a strategic partner for such projects,” said GGE’s Managing Director and added that in Bulgaria they have also won trust of a Bulgarian investment fund.
The company’s development has been also marked with considerable expansion of its team which is composed of 40 people today, double in number compared to the previous year. “We expect our revenue to grow accordingly. The company’s strategic plan envisages a staff of more than 100 by 2020,” said Komazec and noted that the company has recently attracted in its ranks some prominent names of the Slovenian energy industry, including Tomaž Štokelj, a long-time head of energy trading at HSE.
GGE is one of the leading energy services companies in the region, that started its operations in Slovenia. Its regional footprint has expanded in the meantime to Croatia, Serbia and lately Bosnia and Herzegovina, Montenegro and Bulgaria, where GGE’s teams of experts help local clients implement energy efficiency measures, at the same time providing financing for the projects.
GGE recently installed biomass boilers for ELTID tannery in Serbia, a wood biomass-fuelled boiler in Žužemberk in Slovenia and is setting up a similar installation in Dobrepolje municipality, also in Slovenia. Major portfolio of GGE projects in Slovenia is funded by SUSI Energy Efficiency Fund.