Simtel (BVB: SMTL), an engineering and technology group listed on the Main Market of the Bucharest Stock Exchange and the national leader in renewable energy, and Monsson, the largest renewable energy project developer in Romania and Southeast Europe, announce the signing of a strategic partnership aimed at developing, constructing, and selling photovoltaic and/or hybrid projects with a total installed capacity of approximately 150 MWp. Additionally, the partnership will focus on the development of energy storage solutions with a capacity of up to 120 MWh. To execute these projects, the two companies intend to utilize their own financial resources, bank financing, and other funding sources such as green bonds and European funds.
“The partnership between Simtel and Monsson marks a significant step towards accelerating the green energy transition at the national level. Together, we will combine our extensive resources and expertise to deliver projects that will contribute to reducing carbon emissions and enhancing Romania’s energy independence. This partnership complements the strategy we have defined for the 2025–2030 period, during which we are committed to implementing 500 MWp of green energy production capacity and expanding energy storage infrastructure by 300 MWh,” stated Ana Nedea, Director of Strategy and Business Development at Simtel.
Simtel and Monsson will develop renewable energy projects using an integrated model that covers the entire project life cycle – from planning and development to construction, sale, and, in exceptional cases, long-term operation. This integrated approach allows the two companies to ensure efficiency, reliability, and innovation in every project.
“Monsson has developed and invested in innovative energy storage solutions for large systems, bringing stability to the national energy grid and adding value to energy investments. Our patented water-cooling solutions for PRIME batteries and high-performance software, perfectly adapted to the Romanian market, will help the projects in which these are implemented to generate renewable energy continuously. Considering that over 95% of the solution’s components are produced in Europe, we are confident in creating added value for our partner companies as well. We are confident that the partnership with Simtel will grow in the future, and we will be able to expand this cooperation into other energy sectors,” stated Sebastian Enache, Head of M&A at Monsson.
The project portfolio that the two companies aim to pursue through this partnership can be executed either in full or in separate phases, depending on market demands and development opportunities. This approach will allow them to respond quickly to changes in the energy sector and adapt technical solutions to new challenges.
The partnership will explore energy storage options to support the balancing and efficiency of electrical grids, thus meeting the growing demands for national energy stability and security.
By implementing renewable energy projects, Simtel and Monsson will support national carbon emission reduction goals, in line with Romania’s commitments to the European Union and international environmental agreements.
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Publish date : 2024-09-26 02:23:00
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