Simtel Team Secures Funding for 52-MWp Solar Project

Mar 28, 2024 11:41 AM ET
  • Simtel Team SA shines bright with funding secured for a 52-MWp solar park in Romania, bolstering their renewable energy portfolio and commitment to clean energy goals.

Simtel Team SA, a Romanian technology group, has secured funding from Romania's National Recovery and Resilience Plan for a 52-MWp solar park in Giurgiu County. The RON 60.6 million (USD 13.2m/EUR 12.2m) will be used for construction, with the project expected to be completed by the fourth quarter of 2024 or the first trimester of 2025. Simtel Team plans to use a combination of NRRP funding, its own resources, and bank financing for the project, which has already received all necessary approvals.

At the end of 2023, Simtel Team had 287 MWp of installed solar parks and recently announced plans to acquire a domestic company with rights to a 5.35-MWp solar project. The company is focused on expanding its renewable energy portfolio and contributing to Romania's clean energy goals. The new solar park will further strengthen Simtel Team's position in the country's solar energy sector.

How will Simtel Team SA's new solar park contribute to Romania's clean energy goals?

  • The 52-MWp solar park in Giurgiu County will add to Romania's renewable energy capacity, helping the country meet its clean energy goals.
  • The project will contribute to reducing carbon emissions and dependence on fossil fuels in Romania.
  • Simtel Team SA's investment in solar energy aligns with the country's commitment to increasing the share of renewable energy in its energy mix.
  • The new solar park will create jobs during construction and operation, boosting the local economy in Giurgiu County.
  • By utilizing NRRP funding, Simtel Team SA is leveraging government support to accelerate the transition to clean energy in Romania.

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