Romania's Simtel Team signs 30 GWh power supply contracts

The contracts, whose value was not revealed, came in the wake of Simtel's approval as an energy supplier by Romania’s national energy regulator, ANRE, and were signed for a standard period of 12 months, according to a statement filed by the company with the Bucharest Stock Exchange, BVB, on Tuesday.

Simtel Team will supply the electricity through local energy provider GES Furnizare, in which it owns a 62% stake.

"Following the operationalization of GES, the Company consolidates its position as a market leader in renewable energy, having a complete portfolio of integrated services. In addition to the energy supply, the Company also offers revenue optimization from the production units owned by the Company's clients," said Iulian Nedea, board chairman at Simtel Team.

Earlier this month, Simtel announced the acquisition of Oasis Green Energy, a Romanian project company developing a 5.35 MWp photovoltaic park.

Simtel Team was founded in 2000 and specialises in eco-engineering, industrial automation, telecommunications, electric mobility, and photovoltaic equipment. The company was listed on the AeRO secondary market of the BVB in 2021.

Simtel Team's shares traded 2.06% higher at 59.4 lei ($13.07/11.95 euro) as at 1214 CET on Wednesday on the Bucharest bourse.

(1 euro=4.9675 lei)