Banca Transilvania is extending €28 million in financial support to Simtel, a leading Romanian renewable energy company, to complete the development of a solar power plant in Giurgiu. The funding package includes a €16 million investment loan and a €12 million bridge loan, enabling Simtel to finalize the project, which is currently about 80% complete.
Up until now, Simtel has financed the solar plant through its own resources. The newly secured loans will cover the remaining construction and commissioning costs, pushing the project toward full operational capacity.
This financing agreement reinforces the longstanding partnership between Banca Transilvania and Simtel, while also underscoring the bank’s commitment to promoting sustainable energy projects, enhancing resource efficiency, and contributing to Romania’s shift toward a greener economy.
Simtel CEO Mihai Tudor noted that the plant is expected to generate stable revenues from clean energy, providing strategic resilience amid economic and geopolitical uncertainties. The financing complements contributions from the National Recovery and Resilience Plan and Simtel’s own capital, optimizing investment returns and expediting completion.
The successful arrangement not only reflects Simtel’s solid financial standing but also the confidence of its partners in the company’s ongoing expansion and adaptability in the dynamic energy sector.
