Romania's Simtel Team to create 10MWp project

• Romanian engineering and also technology company Simtel Team [BSE: SMTL] said on Monday it prepares to develop a solar project with complete set up capacity of 8 to 10 MWp in Ianca, in Braila county.

After the development of the project and also after obtaining all the building permits, the marketplace value of the ready-to-build project will be about 500,000 euro ($566,000), Simtel stated in a statement filed with the Bucharest Stock Exchange, BVB.

After the complete building and construction, the approximated value of the project will be 6 million euro, the business added.

Simtel Team was founded in 2010 by Romanian business owners Iulian Nedea, Sergiu Bazarciuc and Radu Vilau.

The firm is listed on the AeRO market of the Bucharest Stock Exchange as well as operates in three company areas - telecommunications, green energy, and also industrial automation.

In mid-December, Simtel introduced that it has actually gotten to an agreement to acquire a 51% risk in local supplier of projecting services for photovoltaic power plants and wind turbines ANT Power Energy for 1.5 million lei ($343,000/ 303,100 euro).

Simtel's shares traded 4.71% greater at 26.7 lei on the Bucharest bourse as at 1052 CET on Monday.