Simtel (BVB: SMTL), a Romanian engineering and technology company listed on the Main Market of the Bucharest Stock Exchange, announces the commissioning of the photovoltaic park in Giurgiu, the largest solar park in Romania built on degraded land, with an installed capacity of 52 MWp and an estimated annual production of approximately 73 GWh. The completion of this project marks an essential milestone in strengthening Simtel’s presence in the renewable energy generation segment and fulfills one of the company’s key objectives set at the time of its listing on the Bucharest Stock Exchange in July 2021. The project was completed in Q4 2025 and was developed entirely by Simtel, from land acquisition through to commissioning.
“The Giurgiu project is unique and becomes a model for converting unused industrial land into sources of clean energy, enabled by the complete 360-degree expertise we offer: engineering, construction, automation, operations, and maintenance. We worked on an atypical site, a former industrial ash pit, an abandoned and unstable area that required completely different technical solutions compared to a standard soil profile. From land consolidation and building the new infrastructure, to the integration of all electrical and monitoring systems, every stage demanded a significantly higher level of effort and coordination. The fact that we succeeded in transforming this space into a modern photovoltaic park confirms the maturity of our team and Simtel’s capability to manage complex projects with the same rigorous standards we apply across all our investments. This result reflects what we can build together and gives us the confidence to accelerate the development of our green energy portfolio,” stated Mihai Tudor, CEO of Simtel.
The land hosting the photovoltaic park was acquired by Simtel in October 2021 and covers more than 83 hectares, including a lake of approximately 16 hectares, previously a former industrial ash pit. The area has been fully rehabilitated and transformed from an abandoned industrial site into a modern solar park, representing one of the most extensive green industrial reconversion projects in southern Romania. Today, the project also generates additional environmental benefits through the regeneration of spontaneous vegetation and the revitalization of local ecosystems, with the lake becoming a habitat for swans and various fish species.
The project benefits from a non-reimbursable grant of approximately 60.6 million lei through the National Recovery and Resilience Plan (PNRR), linked to a bridge loan contracted with Banca Transilvania in the same amount, which will be repaid once European funds are disbursed. In parallel, the company obtained a 16-million-euro investment loan and secured the required equity contribution for implementing the project, ensuring full financing through a combination of European funds, bank financing, and own capital.
The site now hosts over 85,000 photovoltaic panels, and the system is operated by 170 smart inverters. The energy is delivered to the National Energy System through six transformer stations and a newly built high-voltage substation.
“The Giurgiu photovoltaic park marks an important step in the direction set at the time of our listing: transforming Simtel into a company with an integrated ecosystem dedicated to green energy. This project reflects how the experience gained from hundreds of implementations for partners is now transferred into our own investments, generating real impact in the national energy system. In parallel, we are continuing the development of the other photovoltaic parks in our portfolio, consolidating a steady flow of sustainable energy production that will support the company’s long-term growth and Romania’s goal of energy independence,” stated Iulian Nedea, Co-founder and Chairman of the Board of Directors of Simtel.
The energy produced will be delivered to the grid and sold under a 10-year Power Purchase Agreement (PPA) signed between Simtel and G-Energy Solutions, a company 62% owned by Simtel. Over the duration of the contract, Simtel will supply a total of approximately 736 GWh, which will be provided to G-Energy Solutions’ end customers.
The estimated annual production of 73 GWh is sufficient to cover the consumption of more than 27,000 households and will help reduce annual emissions by over 20,000 tons of carbon dioxide.
Currently, the company’s portfolio includes nine proprietary photovoltaic parks in various stages of development and construction, with a total installed capacity of approximately 153 MWp and an estimated annual production of over 200 GWh. Of these, four projects – Pleșoiu (phases 1 and 2), Iacobeni, Salonta, and Giurgiu – have already been completed, while another four – Anina, Ianca, Mangalia, and Movilița – are in different development stages and will be finalized gradually by the end of 2026. In addition, Simtel is preparing the development of the Bughea park in Argeș, with a capacity of 70 MWp, which, upon commissioning estimated for the second quarter of 2027, will become the largest proprietary project developed by the company.
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.
