Banca Transilvania (BT) is financing the Simtel company with 28 million euros for the completion of a photovoltaic park in Giurgiu, Banca Transilvania announced on Thursday.
This is an investment loan of 16 million euros, respectively a bridge loan of 60.6 million lei. The project is 80% complete, the construction of the park having been financed so far from the company's own sources, and the two loans from BT will fully cover its completion.
"Through the financing package offered, we are increasing the strategic partnership developed over time with Simtel and, at the same time, we are reinforcing Banca Transilvania's commitment to supporting renewable energy projects, resource efficiency and Romania's transition to a green economy," said Cosmin Calin, Senior Executive Director, Large Corporate Clients, Structured Finance and Factoring, Banca Transilvania (BT).
In turn, Mihai Tudor, CEO and executive member on the Board of Directors of Simtel Team, emphasized that this project will generate significant revenues from green energy, providing the company with a solid competitive advantage in a volatile economic and geopolitical context. "In order to maximize the return on investment and accelerate the implementation of the project, we decided to contract these credit facilities, which complement the financing from the PNRR and our own contribution. Obtaining these funds reflects Simtel's financial solidity and the confidence of our partners in the company's growth prospects, while maintaining the flexibility necessary to respond to the dynamics of the energy sector", declared Mihai Tudor.
Simtel has seven other photovoltaic park projects: three completed - in Plesoiu, Salonta and Iacobeni - and four in various stages of construction or authorization - in Anina, Ianca, Mangalia and Movilita - their completion being estimated by the middle of next year.
BT is the largest bank in Romania and in Southeastern Europe. It has over 20% market share, 4.4 million customers, over 10,000 employees, online banking solutions and 500 offices in 180 locations.
Simtel is a technology, engineering and innovation group, with Romanian origins, international presence and a global vision. The group offers companies and organizations complete solutions and integrated ecosystems, from consultancy, authorization, design, engineering and construction, to maintenance, operation, measurement, control and energy supply. Simtel Team is listed on the Main Market of the Bucharest Stock Exchange.
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