Simtel receives 28 million euros loan from BT to complete the PV park in Giurgiu

Banca Transilvania is financing Simtel, one of the leaders in renewable energy in Romania, with 28 million euros for the completion of a photovoltaic park in Giurgiu. This is an investment loan of 16 million euros and a bridge loan of 60.6 million lei.

The project is 80 percent complete, with the construction of the park so far being financed 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,” – Cosmin Călin, Senior Executive Director Large Corporate Clients, Structured Financing and Factoring, Banca Transilvania.

“This project will generate significant green energy revenues, giving us 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 necessary flexibility to respond to the dynamics of the energy sector,” – Mihai Tudor, CEO and executive member of the Board of Directors, Simtel Team.