"We are thrilled that, in an extremely short period after obtaining the license from ANRE in January, we signed the first electricity supply contracts through GES. This confirms our continued commitment to innovation and excellence in the renewable energy sector. Our group focuses on delivering sustainable solutions and promoting Romania's smooth transition to a green economy, reducing dependence on traditional energy sources. The success of signing these contracts underlines our determination to actively contribute to changing the local energy landscape and play a key role in combating climate change. We will continue to work intensively to consolidate our position as a market leader and be a reliable partner for our existing and potential clients", stated Mihai Tudor, CEO and executive member of Simtel's Board of Directors.
Electricity supply contracts are signed for a standard period of 12 months with clients from various fields, such as plastics production, retail, and logistics space operation. During this interval, GES will supply energy in a total amount of approximately 30 GWh to the three clients.
"The signing of these contracts represents an important first step in developing GES, through which we aim to provide efficient renewable energy solutions. Also, through the group's integrated services, we bring multiple benefits to our partners in their energy transition process," stated Ionuț Vasilica, CEO of GES.
In January of this year, GES obtained from ANRE the energy supply license, valid until 10.01.2029, this being a prerequisite to be able to sign electricity supply contracts. Thus, by obtaining this license, Simtel offers its clients a complete package of integrated services and products – building and installing photovoltaic power plants, maintenance, forecasting, and trading of energy production, monitoring, optimization, and remote control of consumption of energy and electricity supply.
In addition, at the beginning of March 2024, Simtel took a new step in the development of the group by completing an M&A transaction, through which it fully acquired Oasis Green Energy 3, a project company developing a photovoltaic park in Salonta, Bihor County, with a planned installed capacity of 5.35 MWp DC (peak power at the panel level). With this transaction, Simtel owns six such parks in various stages of implementation - in Plesoiu, where the project's first phase was completed in August 2023, Anina, Ianca, Giurgiu, Mangalia, and Salonta. At the time of completion of the works for all the projects, the parks will have a total installed power of approximately 75 MWp DC and generate an annual production of approximately 100 GWh.
Simtel Team is listed on the AeRO market of the Bucharest Stock Exchange as of July 2021. According to the preliminary results for 2023, the company recorded a consolidated turnover of RON 295.6 million, a 112% increase compared to 2022, and a net profit of RON 27.4 million, a 115% increase compared to the previous year. EBITDA at the consolidated level in 2023 was RON 36.8 million, a 117% increase compared to 2022 and 17% higher than the 2023 revenue and expense budget assumed by the company.
