The object of the contract targets design works, obtaining approvals and authorizations, procurement, construction and commissioning of injection photovoltaic power plants with a total installed capacity of 23.6 MW, the report shows.
The contract duration is 12 months from the date of conclusion of the contract and its value exceeds 10% of the total income corresponding to Simtel’s latest annual financial statements, the report reads.
Grunman Energy is part of Paval Holding, the investment vehicle of brothers Adrian and Dragos Paval who own do-it-yourself retailer Dedeman. In 2022, Paval Holding established the company Grunman Energy in 2022 and said it would generate electricity via solar power plants installed on the rooftops of Dedeman’s seven logistics centers in Romania.
Simtel had a consolidated turnover of RON68.3 million in January-September 2022, and a net profit of RON3.5 million, as per the company’s quarterly report.
SMTL shares have lost 2.2% in 2022, amid deals worth RON15.3 million. The company has a market value of RON194.4 million and is 23.83% held by Iulian Nedea, 23.9% by Sergiu Bazarciuc and 23.6% by Radu Vilau, co-founders.