The contract value exceeds 10% of the total income corresponding to the latest annual financial statements.
The contract targets an investment loan of EUR16 million (nearly RON80 million) for the Giurgiu project and a bridge loan of RON60.6 million, with the total amount for the photovoltaic park nearing RON141 million.
The contract will run until September 2035 for the investment loan and until March 2026 for the bridge loan.
“The financing, together with the National Recovery and Resilience Plan (NRRP) component and Company’s own contribution, fully covers the implementation of the entire project, which is already 80% completed and has so far been funded from the Company’s own resources,” the report reads.
Once completed, the photovoltaic park in Giurgiu will have an installed capacity of 52 MWp and an estimated annual production of 69 GWh. Currently, Simtel owns seven other photovoltaic park projects: three completed – in Plesoiu, Salonta, and Iacobeni – and four in various stages of construction or permitting – in Anina, Ianca, Mangalia, and Movilita – with their completion estimated by mid-2026. Upon completion, Simtel’s eight photovoltaic parks will have a total installed capacity of over 83 MWp and will generate more than 111 GWh of green electricity annually.
Simtel had a net profit of RON36.7 million in 2024, up 35% against 2023, and a turnover of RON354.3 million, up 19% from 2023.
The company’s largest shareholders are its founders, Iulian Nedea (an ownership stake of 21.3%), Sergiu Bazarciuc (21.1%) and Radu Vilau (21.08%). SMTL shares have lost 15% over the last year but gained 16% so far in 2025, triggering a market capitalization of RON372 million.