The land plot belongs to insolvent Uzina Termoelectrica Giurgiu and also includes a lake.
The deal, worth around EUR0.8 million, is pending the approval of the company’s general extraordinary meeting of shareholders due to be convened in the coming period and the acquisition will be partially funded with capital raised from investors on the bourse during the private placement carried out in May 2021.
“At the moment we decided to list of the bourse, one of the growth plans we had envisaged our entering the market of electricity production from renewable sources. Capital market funding mechanisms offer us a series of excellent opportunities to grow in our activity field”, says Iulian Nedea, co-founder and CEO of Simtel Team.
Beside investments related to land purchase, the project development also involves costs of around EUR0.5 million. The value of such a project will revolve around EUR3 million, in line with data provided by the company’s representatives.
The turnkey construction of the photovoltaic project is valued at some EUR40 million, with the investment to be amortized in five, to seven years, depending on energy prices on the market. The farm will produce around 52,000-78,000 MWh annually, which can supply around 14,000 households annually.
(English version by Catalina Apostoiu)