“The takeover of Salonta project company is part of Simtel’s strategy for the long-term development of its own portfolio of photovoltaic parks for the generation and sale of electricity. This investment not only expands our production capacity and diversifies our energy portfolio, but also reflects our vision of playing a key role in Romania’s transition to a green economy. We will continue to identify such opportunities and projects for our portfolio, with the main objective being to diversify the group’s income sources and offer a stable cash flow,” stated Mihai Tudor, the company’s CEO.
Through the transaction, the Company will acquire a ready to build project, with a planned installed capacity of 5.35 MWp, on a land with an area of 69,800 square meters located in Salonta, Bihor County. The project has all the authorizations obtained and is ready for the immediate start of implementation. The connection works to the national energy network are already completed.
Simtel expects the project to be entirely finalized in the next six months.
Following the finalization of the project, the park will generate annually approximately 6.5 GWh and will reduce the annual amount of CO2 by approx. 3,965 tons.
Simtel Team in 2023 registered consolidated turnover worth RON295.6 million, up 112%, and net profit of RON27.4%, 115% above the 2022 level.
(English version by Catalina Apostoiu)