Sursa foto: Captură Inquam
Simtel Team (SMTL), a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange, announced on Wednesday that it is acquiring an 837,866 sqm industrial land in the inner city of Giurgiu, News.ro reports. The purpose of the acquisition: a large-scale photovoltaic park with a total installed capacity of between 40 and 60 MWp – MW installed, entering the renewable energy production market. The land for which the company has concluded a purchase contract belongs to the Termoelectrica Giurgiu plant, which is in insolvency.
The turnkey construction of the photovoltaic project in Giurgiu is valued at around €40 million, and the investment will pay for itself in five to seven years, depending on the market price of energy. The photovoltaic park will produce around 52,000-78,000 MWh per year, enough energy to power more than 14,000 households each year. This means a reduction of more than 67,000 tones of carbon dioxide emissions per year.
“Simtel Team (SMTL), a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange, announces the acquisition of an 837,866 sqm industrial land in the inner city of Giurgiu. The company plans to develop a large-scale photovoltaic park with a total installed capacity of between 40 and 60 MWp – MW installed and aims to enter the renewable energy production market,” the company announced.
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Once construction is completed, it will be among the largest photovoltaic parks in Romania.
The transaction, worth around €0.8 million, will be submitted for approval at the Extraordinary General Meeting of Shareholders, which Simtel will convene in the coming period. The acquisition of the land was partly realized from the capital attracted from investors during the private placement that took place in May 2021.
In addition to the investment related to the land acquisition, the development of the project by Simtel involves costs of approximately EUR 0.5 million, which includes aspects such as design, obtaining all construction permits and the connection contract. The value of such a project, taking into account the price at which a fully authorized MWp is sold today, will be around €3 million. A fully licensed MWp, ready to build, has a market value of around €60,000.
“When we decided to go public, one of the growth plans we had in mind was to enter the renewable electricity generation market. We are glad that in a reasonable time we managed to identify a first suitable plot of land for the development of a photovoltaic project and that we have already completed the necessary steps for its acquisition”, said Iulian Nedea, co-founder and CEO of Simtel Team.
The land for which the company has signed a purchase contract belongs to the Termoelectrica Giurgiu plant, which is in insolvency, and also includes a lake covering approximately 160,000 sqm of its total surface area.
Once all the necessary permits have been obtained, which is expected in the second half of 2022, Simtel will have three options: sell the ready-to-build project, build the PV park on its own and operate it, or build the project and sell it to an investor, based on an pre-contract signed with a buyer. Such a decision will be taken at the time depending on the plans and projects the company is involved in.
Simtel Team is a Romanian company, founded in 2010 by three Romanian entrepreneurs – Iulian Nedea, Sergiu Bazarciuc and Radu Vilău. The company is listed on the AeRO market of the Bucharest Stock Exchange under the ticker symbol SMTL and operates in 3 business areas – telecommunications, renewable energy and industrial automation. Simtel specializes in providing integration services to mobile telecommunications operators, building and providing maintenance of photovoltaic power plants, as well as industrial process automation. The company has delivered projects in each of these areas to clients both in Romania and abroad. As of October 2021, the company is included in the BET-AeRO index of the BVB.