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

Business Forum

24 July, 2025 at 2:08 PM

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)

This deal is a key part of Simtel Team's strategy to expand its photovoltaic production and storage capacities, with the ultimate goal of operating or monetizing these assets.

The payment structure for the acquisition involves Simtel Team taking over a receivable of RON 3.8 million (€777,065) at its nominal value, representing loans previously extended to SMTL Solar Bughea.

The remaining amount of RON 28.3 million (€5.7 million) will be paid in two installments.

The SMTL Solar Bughea project is currently in a ready-to-build stage, possessing all necessary permits and approvals for construction. Its development was initially separate from Simtel Team due to previous legislative uncertainties regarding the use of pastures for photovoltaic installations. However, recent methodological norms adopted in December have made its implementation feasible.

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