Restart Energy implements a photovoltaic system project worth over 500,000 euro for Cottontex

Restart Energy, one of the largest independent electricity suppliers on the local market, announces the signing of a contract worth over 500,000 euros with Cottontex, for the installation of voltaic photo generators with a combined power of 700 kWp.

The project involves the installation of 1556 photovoltaic panels, on an area of ​​5,000 square meters, on the roof of the Cottontex factories in Timisoara and Lugoj. The photovoltaic generator will produce 20,250 MWh in the next 25 years, meaning a reduction in electricity costs of 4,050,000 euros. Thus, the company’s investment of over 500,000 euros will be amortized in less than 3 years.

The investment aims to cover 32% of Cottontex’s energy needs and involves a reduction in the company’s carbon footprint by 6375 tonnes and a reduction in radioactive waste by 60 kg.

“Solar projects are becoming interesting for more and more Romanian companies and we expect this trend to keep growing. Basically, with a quick amortization investment, energy costs decrease significantly and we all enjoy a cleaner environment. Photovoltaic systems are modular and the sizing is done according to the needs of each client, location, roof orientation, or the degree of shading”, says Armand Domuța, General Manager of Restart Energy.

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“We are a family business with a sustainable business approach, constantly investing in new technologies. We have made the transition to green energy with a view to the future. In addition to the financial arguments, we also took into account the beneficial effects of green energy on the environment”, said Erol Baeram, CEO of Cottontex.

In January 2021, Restart Energy signed a partnership with the US fund Interlink Capital Strategies in Washington DC to finance the development of 500 MW of renewable projects in Romania by 2025, to provide 100% green energy produced locally to all final customers.

In February 2021, Restart Energy successfully launched the first issue of convertible green bonds in Romania that were listed on the Bucharest Stock Exchange, with the code REO26.

In September 2021, after 4 years of development, Restart Energy launched another unique project worldwide, a platform based on its technology to certify on the blockchain both the carbon footprint and the carbon dioxide avoided to be eliminated in the atmosphere, as well as direct trading between participants of environmental attributes and renewable energy, www.redplatform.com.

Every time someone plants a tree, clears a beach, consumes green energy, or takes any steps to protect the environment, they can register this action on the RED platform. Once the data is validated on the platform, the equivalent CO2 footprint is calculated and tokenized carbon credits are released that can be used to buy green energy or get the cash equivalent. At the same time, a company can obtain carbon credits in the form of green tokens for their customers through unique QR codes printed on products or purchase receipts.