The solar park has an installed capacity of 52 MWp and an estimated annual production of approximately 73 GWh.
The completion of this project represents an essential milestone in strengthening the Group’s presence in the renewable energy generation market and fulfills one of the objectives undertaken at the time of the Company’s listing on the Bucharest Stock Exchange in July 2021. The project was completed in Q4/2025 and was developed entirely by Simtel, from land acquisition through commissioning.
The land on which the photovoltaic park is located was acquired by the company in October 2021 and covers more than 83 hectares, including a lake of approximately 16 hectares, formerly an industrial ash pit. The area has been fully rehabilitated and transformed from an abandoned industrial site into a modern solar park, representing one of the most extensive green industrial reconversion projects in southern Romania. At present, the project also generates additional environmental benefits through the regeneration of spontaneous vegetation and the revitalization of local ecosystems, with the lake becoming a habitat for swans and various fish species.
The project benefits from a non-reimbursable grant of approximately RON60.6 million through the National Recovery and Resilience Plan (PNRR), linked to a bridge loan contracted with Banca Transilvania in the same amount, which will be repaid once the European funds are disbursed. In parallel, Simtel obtained a EUR16 million investment loan and secured the required equity contribution for implementing the project, ensuring full financing through a combination of European funds, bank financing, and own capital.
The site currently hosts over 85,000 photovoltaic panels, and the system is operated by 170 smart inverters. The energy is delivered to the National Energy System through six transformer stations and a newly built electrical substation.
The energy produced will be delivered to the grid and sold under a 10-year Power Purchase Agreement (PPA) signed between Simtel and G-Energy Solutions, a company 62%-owned by Simtel Group. Over the duration of the contract, Simtel will supply a total of approximately 736 GWh, which will be delivered to G-Energy Solutions’ end customers.
The estimated annual production of 73 GWh is sufficient to cover the consumption of more than 27,000 households and will help reduce annual emissions by over 20,000 tons of carbon dioxide.
The Giurgiu project is a unique project and becomes a model for converting unused industrial land into sources of clean energy, enabled by the complete 360-degree expertise the company provides: engineering, construction, automation, operations, and maintenance.
Currently, Simtel has nine proprietary photovoltaic parks in its portfolio, in various stages of development and construction, with a total installed capacity of approximately 153 MWp and an estimated annual production of over 200 GWh. Of these, four projects – Plesoiu (phases 1 and 2), Iacobeni, Salonta, and Giurgiu – have already been completed, while another four – Anina, Ianca, Mangalia, and Movilița – are at different development stages and will be finalized gradually by the end of 2026. In addition, Simtel is preparing the development of the Bughea park in Argeș, with a capacity of 70 MWp, which, upon commissioning estimated for the second quarter of 2027, will become the largest proprietary project developed by Simtel.