Restart Energy, one of the largest independent suppliers of electricity and natural gas on the local market, aims to double the number of household customers this year to 65,000 and increase its revenues about 80 percent – up to RON 220 million. The growth is determined by the liberalization of the energy market and new business lines with higher added value, such as the sale of equipment.
The management of Restart Energy, a company founded in 2015 in Timisoara, wants to reach 65,000 individual customers by the end of the year, more than 35,000 compared to 2020. Also, it aims to reach 7,500 customers in the business segment, increasing by 50 perecnt compared to last year.
83 percent higher revenues compared to 2020
The advance of the number of customers and the addition of new business lines – such as the sale of equipment – will lead to a significant increase in turnover. Thus, Restart Energy relies on 220 million lei revenues for 2021, more by 100 million lei (+ 83%) than last year. The company’s management plans to reach a net profit of 24.2 million lei at the end of 2021, compared to approximately 13 million lei (estimated) last year.
“Since the beginning of this year, with the liberalization of the energy market, we have registered a very large increase both in terms of requests for offers and the number of new customers. Thus, we notice that we receive approximately a thousand information requests daily, and around 70% of those who find out about our offers become clients. We know that it is a temporary effect – for a few weeks – due to the market’s liberalization. This historic event for the Romanian energy market will change the way the entire field looks and support us in achieving the objectives,” says Armand Domuța, CEO and founder of Restart Energy.
A green bond issuance of EUR 3-5 million
Along with the liberalization of the energy market, another essential factor for the development of Restart Energy this year and the next five years is the launch of green bond issuance. This is also the most important plan of the company at the beginning of 2021. Through this process, Restart Energy aims to obtain 3-5 million euros for investments. The interest will be about 8-10%, and the listing on the Bucharest Stock Exchange will take place in the coming weeks. The process will be mediated by the brokerage company GOLDRING.
“The bond issue is the first step in executing our strategy regarding the number of customers, the integration of renewable production assets, our regional expansion, and reaching the target of providing 100% energy from renewable sources. In the next five years, we aim to achieve ambitiously, but achievable targets: renewable energy production of 500 MW, 300,000 retail and business customers, a market share of 2.5% for electricity and 1.5% for natural gas on a fully digital model. The amount obtained through this bond issue will help us achieve these objectives”, adds Armand Domuța.
USD 500 million projects by 2025
Restart Energy wants to launch this year a plan for the acquisition and development of renewable energy projects with a capacity of 500 MW. The projects would be completed by the end of 2025. The company’s management wants to purchase and develop 100 MW of solar, wind, biogas, biomass, and geothermal energy projects every year until 2025. This Restart Energy plan will require investments of approximately USD 100 million per year. In this regard, Restart Energy recently entered into a joint venture with the consulting and fund management company Interlink Capital Strategies (USA). This partnership will support Restart Energy in executing the strategy of developing green energy projects worth $ 500 million in Romania and neighboring countries while expanding into the US market.
In addition to the acquisition and development of 100 MW projects this year, the company’s management wants to double the volumes for energy supply and natural gas supply.
Restart Energy is an independent electricity and natural gas supplier for homes and companies, with 100% Romanian capital, established in 2015 in Timisoara. Restart Energy has over 30,000 household customers and approximately 5,000 corporate customers. The company is present in the Romanian and Serbian markets and, starting with 2021, intends to develop in several European markets, including Germany and Spain.