“The Company will consolidate its local team in the near future, the projects in Republic of Moldova being currently carried out with experienced sub-contractors, selected in accordance with the Company’s internal standards. Concerning the projects developed in Republic of Moldova, the Company already has orders placed and in progress with a total installed power of approximately 2MWh and estimates projects with the same installed power for the second half of 2023,” stated Sergiu Bazarciuc, founder and COO of Simtel Team, as well as coordinator of Simtel activity in the Republic of moldova.
Currently, the Company’s activity on the Moldovan market is focused on the construction, maintenance and operation of photovoltaic power plants for retailers, on the roofs of their stores or warehouses. As for the materials used, some of the system components, which correspond to the Company’s standards, are purchased locally, and the rest are brought from the Company’s stocks in Romania.
Simtel management expects demand for renewable power solutions to be on an upward trend in the Republic of Moldova in the coming years and companies with proven experience in the field of photovoltaic electrical plant building, such as Simtel, will be the first option for the deployment of such projects.
In the past three years, Simtel has designed and installed for companies operating in various economic fields over 70 MWh of photovoltaic plants, comprising more than 200,000 photovoltaic panels. These annually generate over 80,000 MWh.
In the first nine months of the year, the company posted consolidated turnover worth RON68.3 milloon and RON3.5 million net profit.
During this period, Simtel client portfolio added 56 new clients. At the same time, the company signed 68 new contracts.
Simtel Team currently has a market capitalization of around RON203 million.
(English version by Catalina Apostoiu)