Simtel secures €16 million investment loan for solar park

Business Forum

22 April, 2025 at 12:00 PM

The Romanian engineering company Simtel Team has announced the signing of a significant contract to finance its photovoltaic project in Giurgiu.

The agreement with BT includes a €16 million investment loan and a RON 60.6 million (approximately €12.1 million) bridge loan.

This financing, combined with funds from the National Recovery and Resilience Plan (PNRR) and the company's own contribution, will fully cover the project's implementation.

The project is already 80% complete, having been primarily funded by Simtel Team's resources to date. The investment loan extends until September 2035, while the bridge loan is set to mature in March 2026.

Once completed, the Giurgiu photovoltaic park will have an installed capacity of 52 MWp and an estimated annual production of 69 GWh.

Enery begins construction of large hybrid energy plant in Romania

Enery has started construction of the Ogrezeni hybrid renewable energy project in Giurgiu County, Romania.

Energy

Simtel completes Romania's largest solar park on degraded land

Romanian engineering group Simtel Team has commissioned its photovoltaic park in Giurgiu, Romania's largest solar park built on degraded land. The facility has an installed capacity of 52 MWp and an estimated annual production of approximately 73 GWh.

Energy

Simtel 9-month revenue jumps 88% on strong PV and BESS contracts

The Simtel Group recorded consolidated operating revenues of RON 326.7 million (€65.6 million) in the first nine months of 2025, marking a 88% increase year-on-year.

Energy

Allview Energy completes solar park project for the Cacica Salt Mine

Visual Fan's Allview Energy division has completed a 1.96 MWp photovoltaic park project at the Cacica Salt Mine in Pârteștii de Jos, Suceava County.

Energy

OMV Petrom finalises deal for one of Bulgaria's largest solar parks

Oil major OMV Petrom has announced the completion of its acquisition of a 50% stake in the Gabare photovoltaic project, which is being developed by Enery in Bulgaria.

Energy

DRI secures €60 million for new solar park in Romania

DRI, the EU renewables arm of DTEK, has secured a €60 million equivalent loan from UniCredit and Garanti BBVA to finance the construction of the Văcărești solar park in Romania.

Energy

Simtel Team acquires ready-to-build solar project in Romania

Romanian engineering group Simtel Team has announced the acquisition of SMTL Solar Bughea, a company previously owned by Sergiu-Eugen Bazarciuc, one of the key shareholders of Simtel, for RON 32.2 million (€6.5 million)

LATEST NEWS

16 Jan

Romania's electricity consumption drops 0.7% in first 11 months

16 Jan

Romania ranks second cheapest in EU for consumer goods, says Eurostat

16 Jan

Life sciences M&A surges 81% as big pharma hunts for growth, says EY

16 Jan

Electro-Alfa plans IPO on BVB

15 Jan

Romania's industrial output drops 1.1% in first 11 months

RECOMMENDED FROM THE HOME PAGE

Finance

Electro-Alfa plans IPO on BVB

Electro-Alfa International, a Romanian electrical equipment manufacturer, has announced plans for an Initial Public Offering (IPO) on the Bucharest Stock Exchange (BVB).

Industry

Life sciences M&A surges 81% as big pharma hunts for growth, says EY

Global life sciences M&A activity increased by 81% in 2025 to $240 billion, driven by Big Pharma's large-scale deals, despite fewer overall transactions. The surge reflects companies prioritising innovations ready for launch as they face widening growth gaps.

Finance