BT finances renewable energy: €28 million for Simtel

Banca Transilvania is providing EUR 28 million in financing to Simtel, one of Romania's leading renewable energy companies, for the completion of a photovoltaic park in Giurgiu. It is an investment loan of EUR 16 million and a bridging loan of RON 60.6 million.

The project is 80% completed, the construction of the park has so far been financed from the company's own sources, and the two loans from BT will cover its full completion.

With this financing package, we increase the strategic partnership developed over time with Simtel and, at the same time, we renew Banca Transilvania's commitment to support renewable energy projects, resource efficiency and Romania's transition to a green economy.

Cosmin Călin
Senior Executive Director Large Corporate Clients, Structured Finance and Factoring
Banca Transilvania

This project will generate significant revenues from green energy, giving us a solid competitive advantage in a volatile economic and geopolitical context. To maximize the return on investment and accelerate project implementation, we have decided to contract these credit facilities, which complement the PNRR funding 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 needed to respond to the dynamics of the energy sector.

Mihai Tudor
CEO and Executive Member of the Board of Directors
Simtel Team

Simtel has seven other photovoltaic park projects: three completed - in Pleșoiu, Salonta and Iacobeni - and four in various stages of construction or authorization - in Anina, Ianca, Mangalia and Movilița - which are expected to be completed by the middle of next year.