Simtel (BVB: SMTL), an engineering and technology group listed on the Main Market of the Bucharest Stock Exchange and one of Romania’s leading renewable energy players, announces the contracting of two financings from Banca Transilvania for the completion of the photovoltaic park in Giurgiu. These consist of an investment loan worth 16 million euros and a bridge loan worth 60.6 million lei.
“Since 2023, with the completion of our first proprietary photovoltaic park in Plesoiu, our company has entered a new stage of development, becoming an electricity producer. The Giurgiu project represents an important step in this direction, as it covers more than half of the total capacity we aim to have completed and operational in our portfolio by mid-2026. This project will generate significant revenues from green energy, providing us with a strong competitive advantage in a volatile economic and geopolitical context. Additionally, the group’s complementary business divisions support healthy and balanced growth across multiple strategic directions. To maximize the return on investment and accelerate the implementation of the project, we decided to contract these credit facilities, which complement the funding from the NRRP and our own contribution. Obtaining these funds reflects Simtel’s financial strength and the trust our partners have in the company’s growth prospects, while also maintaining the necessary flexibility to respond to the dynamics of the energy sector ,” stated Mihai Tudor, CEO and Executive Board Member of Simtel Team.
The investment loan for the photovoltaic park in Giurgiu amounts to 16 million euros, with maturity in September 2035. The bridge loan, amounting to 60.6 million lei, matures in March 2026 and was contracted to temporarily cover the financing needs until the non-reimbursable funds from the National Recovery and Resilience Plan are received. At present, the Giurgiu project is 80% completed, with the construction of the park having been financed so far from the company’s own resources. The two credit facilities will fully cover the implementation of the entire project.
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.
„With this financing package, we are strengthening the strategic partnership developed over time with Simtel and, at the same time, reaffirming Banca Transilvania’s commitment to supporting renewable energy projects, resource efficiency, and Romania’s transition to a green economy,” stated Cosmin Calin, Senior Executive Director Large Corporate Clients, Structured Finance and Factoring, Banca Transilvania.
For 2025, Simtel targets consolidated operating revenues of 502.7 million lei, EBITDA of 63.7 million lei, and a net profit of 45.6 million lei. To achieve this, the company will continue diversifying its portfolio of products and services by expanding large-scale projects and implementing increasingly complex ones, which also include the integration of energy storage solutions.
Simtel aims to capitalize on the energy produced by its own photovoltaic parks and to increase the volumes of energy supplied through GES Furnizare. Another development pillar focuses on expanding operations internationally by leveraging its integrated ecosystem and increasing the number of projects in foreign markets, particularly in Germany. In the context of a dynamic market with low predictability, the company will continue to adjust its strategies according to the legislative framework and clients’ investment appetite, with the goal of efficiently managing challenges and maintaining financial and operational stability.
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About Simtel
Simtel is a technology, engineering, and innovation group with Romanian roots, international presence, and a global vision. The group provides companies and organizations with comprehensive solutions and integrated ecosystems, covering the entire process from consultancy, authorization, design, engineering, and construction to maintenance, operation, measurement, control, and energy supply. Simtel’s 360° expertise spans photovoltaic power plants, telecommunications, energy storage systems, as well as software platform development and robotic process automation, aiming to optimize resources and enhance efficiency. Simtel Team is listed on the Main Market of the Bucharest Stock Exchange under the ticker symbol SMTL.
