Bucharest Stock exchange (BVBV)-listed Simtel Team, a company active in renewable energy and telecom markets, bought from the bankrupt power producer Termoelectrica a plot of land of some 11.5 hectares in Braila county, in southeastern Romania, where it plans to build a photovoltaic park of 8-10 MWp.

The price paid for the plot of land was just over EUR 100,000, the company announced in a note to investors.

After the development of the project, respectively after obtaining all the building permits, the market value of the Ready to Build project will be approximately EUR 500,000 and, after the turnkey construction, the estimated value of the project will be approximately EUR 6 mln, the company’s management estimates.

The company announced in December that it was awarded two major contracts: a RON 6.4 mln (EUR 1.3 mln) contract from Rewe (Penny Market) retailer and another EUR 1.5 mln contract from Fan Courier - both contracts awarded for developing PV parks. 

Simtel Team has been listed on the AeRO market of the Bucharest Stock Exchange since July 1, 2021, and currently, the company has a market capitalization of EUR 40 mln.

The company operates in three sectors - telecommunications, renewable energy and industrial automation. Simtel specializes in providing integration services to mobile telecommunications operators, building and maintaining photovoltaic power plants, and automating industrial processes.

(Photo: Pixabay)

andrei@romania-insider.com