Bucharest, 4 March 2024 – Simtel Team (BVB: SMTL), a Romanian engineering and technology company listed on the AeRO mar-ket of the Bucharest Stock Exchange and a national leader in renewable energy, announces the com-plete takeover of Oasis Green Energy 3, a project company developing a photovoltaic park in Salonta, Bihor County.
„The takeover of the project company in Salonta is part of Simtel’s long-term strategy of developing its own portfolio of photovoltaic parks to produce and sell electricity. This investment expands our produc-tion capacity, diversifies our energy portfolio, and reflects our vision to play a key role in Romania’s transition to a green economy. We will continue identifying such opportunities and projects to bring to our portfolio, with the main objective being to diversify the group’s sources of revenue and provide a stable cash flow. These elements contribute to our robust business model that generates a solid finan-cial situation for Simtel,” stated Mihai Tudor, CEO and executive member of Simtel’s Board of Directors.
Through the transaction, Simtel will take over a ready-to-build project with a planned installed capacity of 5.35 MWp DC (peak power at panel level). The project covers an area of approximately 70,000 square meters and has all the necessary permits to start its implementation. Some essential works, such as the connection to the national energy grid, have already been completed. The company esti-mates that the project will be fully completed within six months. The Salonta park will generate approx-imately 6.5 GWh annually and reduce carbon dioxide emissions in the atmosphere by approximately 4,000 tons annually. The transaction was financed from the company’s own sources.
Simtel is diversifying its revenue sources by expanding its portfolio in the renewable energy sector, thus highlighting the company’s resilience and adaptability amid market changes while contributing to envi-ronmental sustainability. Currently, Simtel owns six such parks, in various stages of implementation, in Plesoiu, where the first phase of the project was completed in August 2023, Anina, Ianca, Giurgiu, Mangalia, and Salonta. At the time of completion of the works for all the projects, the parks will have a total installed power of approximately 75 MWp DC. The parks will generate an annual production of approximately 100 GWh.
Simtel Team is listed on the AeRO market of the Bucharest Stock Exchange as of July 2021. Accord-ing to the preliminary results for 2023, the company recorded a consolidated turnover of 295.6 million lei, a 112% increase compared to 2022, and a net profit of 27.4 million lei, a 115% increase compared to the previous year. EBITDA at the consolidated level in 2023 was 36.8 million lei, a 117% increase com-pared to 2022 and 17% higher than the 2023 revenue and expense budget assumed by the company.
About Simtel Team
Simtel Team is a Romanian company founded in 2010 by three Romanian entrepreneurs – Iulian Nedea, Sergiu Bazarciuc, and Radu Vilau. The company is listed on the AeRO market of the Bucharest Stock Exchange under the ticker symbol SMTL. It oper-ates in 3 fields of activity – as a solution integrator in telecommunications, renewable energy, and industrial automation. The com-pany has successfully delivered projects to clients in Romania and abroad in each area. As of October 2021, the company is included in the BVB’s BET-AeRO index.
