Simtel Team, a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange, bought an industrial land of 837,866 square meters in the built-up area of Giurgiu.

The company plans to develop a large photovoltaic park with a total installed capacity of between 40 and 60 MWp – MW installed. Once the construction is completed, it will be among the largest photovoltaic parks in Romania.

“When we decided to go public, one of the growth plans we had in mind was related to entering the market for electricity production from renewable sources. We are glad that in a reasonable time we managed to identify a suitable first land for the development of a photovoltaic project and that we have already gone through the necessary steps in order to purchase it. We have all the necessary resources to carry out such a project due to the experience gained from the turnkey construction of over 150 photovoltaic projects for customers, ensuring total maintenance in photovoltaic parks, which have an installed capacity of over 125 MWp and maintenance only for inverters for over 70 photovoltaic power plants – CEF, approximately 300MWp,” said Iulian Nedea, co-founder and CEO of Simtel Team.

The turnkey construction of the photovoltaic project in Giurgiu is valued at about 40 million euros, and the amortization of the investment will take place in five to seven years, depending on the price of energy set in the market. The photovoltaic park will produce approximately 52,000-78,000 MWh annually, energy that can supply more than 14,000 households each year. This means a reduction of more than 67,000 tonnes per year in carbon dioxide emissions.