Simtel Team announces the full acquisition of Oasis Green Energy 3, a project company developing a photovoltaic park in Salonta, Bihor County, according to a press release.
“The takeover of the project company from Salonta is part of Simtel’s long-term strategy to develop its own portfolio of photovoltaic parks for the production and sale of electricity. This investment not only expands our production capacity and diversifies our energy portfolio, but also reflects our vision to play a key role in Romania’s transition to a green economy. We will continue the process of identifying such opportunities and projects to bring to our portfolio, with the main objective being to diversify the group’s sources of income as well as provide a stable cash flow. These elements contribute to our robust business model that generates a solid financial situation for Simtel”, said Mihai Tudor, CEO and executive member of the Board of Directors of Simtel Team.
Through the transaction, Simtel will take over a ready-to-build project with a planned installed capacity of 5.35 MWp DC (maximum power at panel level). The project covers an area of approximately 70,000 square meters and has all the necessary authorizations to start its implementation already. Some of the necessary works, such as the connection to the national energy grid, are already completed. Simtel estimates that the project will be fully completed within the next six months. The Salonta park will generate approximately 6.5 GWh annually and will reduce carbon dioxide emissions in the atmosphere by approximately 4,000 tons per year. The transaction was financed from own sources.
Simtel is diversifying its sources of income by expanding its portfolio in the field of renewable energy, thus highlighting the company’s resilience and adaptability in the face of market changes, while simultaneously contributing to environmental sustainability. Currently, Simtel owns six such parks, in various stages of implementation, in Pleșoiu, where the first phase of the project was completed in August 2023, Anina, Ianca, Giurgiu, Mangalia and Salonta. At the time of completion of the works for all the projects, they will have a total installed power of approximately 75 MWp DC and will generate an annual production of approximately 100 GWh.