BVB-listed Simtel buys 80ha to develop 40MWp-60MWhp PV park

Romanian engineering and technology company Simtel Team (SMTL), listed on the AeRO market of the Bucharest Stock Exchange (BVB), announces it reached an agreement to buy 84 ha of land in Giurgiu, where it plans to develop a large photovoltaic park.

The permits will be obtained in the second half of 2022, when the company will decide whether to sell the project, build it for a customer or build it for itself.

The price of the land is some EUR 0.8 mln, and the company’s management needs the shareholders’ approval for completing the deal. The planned installed capacity is between 40 MWp and 60 MWp, which would make it one of the biggest PV parks in Romania.

A fully authorized MWp, ready to build, has a market value of approximately EUR 60,000 - which puts the value of the planned PV park project (all permits included) at EUR 2.4 - 3.6 mln.

“We have the necessary know-how to carry out such a project due to the experience gained from the construction turnkey projects of over 150 PV projects for our customers, ensuring total maintenance in photovoltaic parks with an installed capacity of over 125 MWp and maintenance for inverters only for over 70 photovoltaic power plants with installed capacity of 300MWp,” said Iulian Nedea, co-founder and CEO of Simtel Team.

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