January 3 (SeeNews) - Romanian engineering and technology company Simtel Team [BSE:SMTL] said on Monday it plans to build a solar project with total installed capacity of 8 to 10 MWp in Ianca, in Braila county.
After the development of the project and after obtaining all the building permits, the market value of the ready-to-build project will be approximately 500,000 euro ($566,000), Simtel said in a statement filed with the Bucharest Stock Exchange, BVB.
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After the turnkey construction, the estimated value of the project will be 6 million euro, the company added.
Simtel Team was founded in 2010 by Romanian entrepreneurs Iulian Nedea, Sergiu Bazarciuc and Radu Vilau.
The company is listed on the AeRO market of the Bucharest Stock Exchange and operates in three business areas - telecommunications, green energy, and industrial automation.
In mid-December, Simtel announced that it has reached an agreement to buy a 51% stake in local provider of forecasting services for photovoltaic power plants and wind turbines ANT Power Energy for 1.5 million lei ($343,000/303,100 euro).
Simtel's shares traded 4.71% higher at 26.7 lei on the Bucharest bourse as at 1052 CET on Monday.
(1 euro=4.9481 lei)