In the medium and long term, the Plesoiu project aims to produce and sell electricity from photovoltaic panels. The electricity produced will be sold through direct contracts with the beneficiaries or OPCOM (Romanian Electricity and Gas Market Operator).

"The completion of the first phase of the Plesoiu project marks a major stage in the evolution of Simtel through the development of a new business line aimed at producing renewable electricity. This step represents a remarkable opportunity for us, as we already have the necessary know-how for installing, maintaining, and operating photovoltaic parks. Once fully completed, the Plesoiu photovoltaic park will reduce carbon dioxide emissions in the atmosphere by over 1,500 tons per year", stated Iulian Nedea, co-founder and Chairman of the Board of Directors of Simtel Team.

The Plesoiu project is divided into two phases, the first of which has been completed, with an in-stalled power of 0.988 MWp, obtained from 2,244 photovoltaic panels. The second phase will have an installed capacity of 0.712 MWp, generated by 1,320 photovoltaic panels. The proce-dures for obtaining the necessary authorizations are underway for the latter, with an estimated completion date in the first half of 2024. Upon completion of the entire project, Simtel will operate a photovoltaic park with a total installed power of 1.7 MWp.

In the first year of operation, phase I of the project will have an estimated energy production of 1,372.38 MWh. With the full completion of the photovoltaic power plant, it will produce an amount of 2,603.78 MWh in the first year of operation. The total land area where the power plant is locat-ed, which includes both phases, amounts to approximately 23,000 square meters.

"We want to expand this field of activity in the future, with the plan to reach a total installed capac-ity of 100MW in our parks in the medium term. We are currently working on such power generation projects, which are in various stages of development, from procurement to authorization, approval, or certification", added Mihai Tudor, CEO and executive member of the Board of Directors of Simtel Team.

The first phase of the Plesoiu project was financed from the company's own sources. Simtel is currently negotiating with multiple banks to refinance the first phase of the project and the financ-ing of the second phase.

In terms of financial results, in the first quarter of 2023, Simtel recorded a consolidated turnover of 65.6 million lei, a 579% increase compared to the same period last year, and a net profit of 2.9 million lei, an appreciation of 896%. The company will publish the financial results for the first half of 2023 on September 7.