Simtel, an engineering and technology group listed on the Main Market of the Bucharest Stock Exchange and one of Romania’s leading renewable energy players, announces the signing of an EPC (Engineering, Procurement, and Construction) contract with Energy Capital Group, owned by MOGAN Bucharest SRL, part of the GÜR?? Group from Turkey, for the implementation of a battery energy storage project. The value of the contract amounts to 168.9 million lei, excluding VAT, and the execution period is nine months. “We are happy to be in Romania after 20 years with an investment like this. We see a great future and opportunity here,” stated Kaan Yamantürk, Director of MOGAN Bucharest SRL. “The signing of this contract marks an important milestone for Simtel and for the strategic direction of our company. We are pleased to contribute to the implementation of a project of such magnitude, which demonstrates our partners’ trust in Simtel’s ability to deliver complex solutions at high standards of quality and efficiency. Through this investment, Romania is taking a significant step towards strengthening its energy infrastructure and increasing flexibility in consumption and production. Storage systems represent an essential pillar in the energy transition process and in the sustainable development of power grids. We are confident that the expertise of our team, together with the strong partnership with Energy Capital Group, will contribute to the success of this project. We will continue to develop this line of business with the aim of responding as effectively as possible to our clients’ needs and supporting the evolution of the local renewable energy market in a sustainable and responsible manner,” stated Mihai Tudor, CEO of Simtel. The contract signed by Simtel covers the supply of a battery energy storage system, as well as the design, construction, installation, commissioning, completion, and testing of the facility. The project will be implemented in the village of Iaz, Obreja commune, Caras-Severin County. The project will have a storage capacity of up to 196.4 MWh and an installed power of up to 98.6 MW. The size of the facility is significant, considering that, according to the latest data published by Transelectrica, the current total battery energy storage capacity in Romania is 398.8 MWh. Moreover, the largest storage project completed so far has a maximum capacity of 72 MWh. The investment made by Energy Capital Group benefits from the support of the National Recovery and Resilience Plan (NRRP), through the pillar dedicated to the green transition. The company has obtained financing of over 50 million lei for the implementation of this battery energy storage project. Simtel launched the business line dedicated to energy storage systems in 2024, in response to the growing need for efficient management of energy consumption and production. These solutions enable active participation in the energy balancing market by optimally adjusting voltage and frequency. In addition, they contribute to increasing grid stability by compensating for outages and operating in isolated mode in critical situations, as well as covering imbalances when needed.
Romania will celebrate its National Day on December 1 with a large military parade in Bucharest featuring Romanian and allied troops. The event will also showcase an extensive display of military equipment and aircraft at the Arch of Triumph. More than 2,900 servicemembers and specialists from the Ministry of National Defense, Interior Ministry, Romanian Intelligence […]
Romania’s leading bank, Banca Transilvania, announced the successful completion of its first AT1 (Additional Tier 1) bond issuance on the Dublin Stock Exchange. The final volume of subscribed orders reached over EUR 2.65 billion, representing an oversubscription 5.3 times higher than the amount BT intended to raise. More than 180 investors, a record in Banca […]
During the Executive Committee meeting on Thursday, November 20, the Romanian Gymnastics Federation decided to dissolve the national teams after a series of public accusations of harassment. The accusations are not new. At the end of October, upon returning to the country after the World Gymnastics Championships in Jakarta, 23-year-old athlete Denisa Golgotă revealed that […]
Chinese electronic giant Xiaomi has opened its first physical store in Romania as part of a broader strategy to strengthen its presence on the local market, with additional retail expansion planned for 2026. The new Xiaomi Store, located in Bucharest’s ParkLake Shopping Center, is the company’s first directly operated retail space in the country and […]
Romania will introduce new penalties for retailers that refuse to replace defective products, under a new law recently promulgated by president Nicușor Dan. The measure requires traders to provide a replacement within 30 days when customers report that a purchased item is faulty, whether the purchase was made in-store or online. The retailers that fail […]
Romanian saber fencer Vlad Covaliu was named the best in the world in the junior category for the second consecutive year, according to a press release from Bucharest-based CS Dinamo. The winners of the 2024–2025 World Cup were awarded over the weekend at the International Fencing Federation 2025 Congress held in Manama, the capital of […]
