Romania's Simtel Team to buy 5 MW solar park

Located in Romania's northwestern city of Salonta in Bihor county, the ready-to-build solar park project will span 69,800 sq m, Simtel said in a statement issued with the Bucharest Stock Exchange, BVB.

"The takeover of the project company in Salonta is part of Simtel's long-term strategy to develop its own portfolio of photovoltaic parks for the production and sale of electricity," Simtel Team CEO Mihai Tudor said, as quoted in a company social media post on Monday.

With all necessary authorisations already secured and grid connection works finalised, Simtel is set to implement the project immediately, aiming for completion within the next six months.

Once finalised, the park will generate around 6.5 GWh of green energy yearly, cutting the annual amount of CO2 emissions by about 3,965 tonnes.

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

Simtel Team's shares traded flat at 61.4 lei ($13.41/12.35 euro) as at 1226 CET on Monday on the Bucharest bourse.

(1 euro=4.9698 lei)