Green Forum • 17 April, 2025 at 4:00 PM
Romanian engineering and technology company Simtel has secured two financing agreements from Banca Transilvania to support the completion of its photovoltaic park in Giurgiu.
The financing package includes a €16 million investment loan and a bridge loan of approximately €12.2 million.
“Since 2023, with the commissioning of our first proprietary photovoltaic park in Pleșoiu, Simtel has entered a new phase of development as an electricity producer. The Giurgiu project marks a significant milestone in this journey, as it represents over half of the total installed capacity we aim to have completed and operational by mid-2026. This project is expected to generate substantial revenues from renewable energy, strengthening our competitive position in a volatile economic and geopolitical environment. At the same time, our group's complementary business divisions ensure balanced and sustainable growth across multiple strategic areas. To accelerate implementation and enhance the return on investment, we chose to access these credit facilities, which supplement our own resources and the financing received through the National Recovery and Resilience Plan (PNRR),” said Mihai Tudor, CEO and Executive Board Member of Simtel Team.
The €16 million investment loan is set to mature in September 2035.
The bridge loan, worth 60.6 million lei, will mature in March 2026 and is intended to temporarily cover funding needs until the company receives the non-reimbursable funds allocated through the PNRR.