SMTL Solar Burghea S.R.L. was previously owned by Sergiu-Eugen Bazarciuc, one of Simtel’s founders.
The main objective of this investment is the completion of the project and its subsequent monetization through the sale of the project company to third parties.
The company being in the process of obtaining all the necessary permits and authorizations, as well as ratification by the Company’s Extraordinary General Meeting of Shareholders, which will take place on 07/08 August 2025.
The project is in the ready-to-build stage, having obtained all the necessary permits and approvals for the start of construction.
„It was initially developed separately from the Company due to legislative uncertainties regarding the possibility of using pastures for the installation of photovoltaic power plants (dual-use regime). The acquisition is part of the Company’s strategy to develop photovoltaic production and storage capacities, with the aim of operating or monetizing them,” reads the company’s statement.
Simtel already owns two similar projects, in Salonta and Iacobeni.
Simtel group last year generated RON36.7 million net profit, up 35% from 2023, amid operating revenues worth RON360.2 million, 20% higher.
(English version by Catalina Apostoiu)