The ENERGO - PRO energy group, the largest Central European investor in hydropower, achieved record results in the first half of this year. Its hydropower plants generated 3.4 TWh of electricity, a 40% year-on-year increase and the highest volume the group has ever produced in a first half-year. Operating profit (EBITDA) grew by 21% to EUR 237 million, and revenue rose by 10% to EUR 857 million. Based on these strong results, the group is raising its full-year 2026 EBITDA guidance to EUR 410–EUR 440 million.
The Baixo Iguaçu hydropower plant in Brazil, acquired by ENERGO - PRO in October last year, contributed to the record generation. In the first six months of this year, it produced 511 GWh of electricity. However, the first half of the year would have been a record even without it: generation from the group's other power plants increased by 19% year-on-year.
"In addition to the newly integrated Baixo Iguaçu power plant, the remarkably strong generation of our hydropower plants in Türkiye and Bulgaria primarily contributed to our strong results. In Georgia, new tariffs for electricity distribution and supply had a positive impact, and group-level cost optimisation also played a part. These factors outweighed weaker hydrology in Spain and production curtailments at our Georgian power plants by the state transmission system operator. Based on our first-half results and expectations for the coming months, we are raising our full-year EBITDA guidance from the original EUR 360–EUR 400 million to EUR 410–EUR 440 million," stated Jakub Fajfr, CEO of ENERGO - PRO.
Electricity generation performed exceptionally well: the generation segment's EBITDA rose by 25% year-on-year to EUR 171 million. Hydropower generation surged by 55% in Türkiye and 58% in Bulgaria. Furthermore, a new 42 MW solar power plant was commissioned in Türkiye this April on the premises of the Alpaslan 2 hydropower plant, which also contributed to the half-year results.
In the distribution segment, the volume of distributed electricity increased by 5% year-on-year in Bulgaria and 6% in Georgia.
The group's capital expenditure (CAPEX) reached EUR 85 million. Besides distribution networks in Georgia, it was directed towards projects such as the Chorreritas hydropower plant (20 MW) in Colombia, where construction is entering its final phase.
Key ENERGO - PRO Results for H1 2026
Hydropower generation: 3,394 GWh (+40% YoY)Revenue: EUR 857 million (+10% YoY)EBITDA: EUR 237 million (+21% YoY)Generation segment EBITDA: EUR 171 million (+25% YoY)CAPEX: EUR 85 million (+6% YoY)Total debt: EUR 1,686 million (unchanged from year-end 2025)Liquidity: EUR 192 million in cash and EUR 215 million in undrawn credit facilities2026 EBITDA guidance: EUR 410–EUR 440 million (originally EUR 360–EUR 400 million)
About ENERGO - PRO
ENERGO - PRO a.s. is a Czech energy group wholly owned by Jaromír Tesař. Since 1994, it has specialised in the construction, operation, and modernisation of hydropower plants, and today it is the largest Central European investor in hydropower.
ENERGO - PRO manages assets worth over EUR 3 billion and operates 54 hydropower plants with an installed capacity of 1,737 MW across Bulgaria, Brazil, Georgia, Türkiye, and Spain. In Colombia, it is preparing and implementing new hydropower projects. The group also operates electricity distribution networks in Bulgaria and Georgia.
In 2025, ENERGO - PRO completed the acquisition of the 350 MW Baixo Iguaçu hydropower plant in Brazil, which represents the largest Czech investment in South America. Today, ENERGO - PRO employs more than 10,000 people.
