April 17 (SeeNews) - Romanian technology company Visual Fan [BSE:ALW], operating under the Allview brand, said on Wednesday it has completed the construction of a 1.3 MW solar photovoltaic (PV) project in the southwestern city of Drobeta-Turnu Severin.
The beneficiary of the project is Romanian natural products and dietary supplements retailer Secom, the technology company said in a filing to the Bucharest Stock Exchange.
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The value of the project was not disclosed.
Visual Fan installed the solar panels at four locations operated by Secom across the city - at the raw water catchment station, the potable water supply station, the treatment station and at the company's office building.
The project, which comprises 2,852 Allview PV panels, will contribute to reducing primary energy consumption by 111,700 tonnes of oil equivalent (TOE) per year and will cut carbon emissions by 16,900 tonnes over the next 20 years. It will also generate savings of more than 4 million euro ($4.3 million) over the same period of time.
Visual Fan aims to reach a portfolio of 80 MW of contracted solar projects by the end of the year, it said.
The technology company is specialised in the manufacture of consumer electronics such as smartphones, laptops and smart home devices under the Allview brand. The company also offers solutions for generating green energy, balanced nutrition, and 100% electric vehicles.
In 2023, Visual Fan booked a preliminary net profit of about 7.03 million lei ($1.5 million/1.4 million euro) on a revenue of almost 134 million lei, according to its unaudited financial report filed with the stock exchange in February.
Visual Fan's shares traded 2.72% higher at 15.1 lei as at 1239 CET on Wednesday on the Bucharest bourse.
(1 euro=4.9754 lei)