Restart Energy, one of the main independent energy suppliers on the local market, announces the signing of the connection contract for the 50 MW solar project from Sărmășag, Sălaj county. The project represents an investment of approximately 40 million euros, money that will be used for the construction of the park that will be functional in the first quarter of 2022.
The 50 MW project is the first step in Restart Energy’s development strategy, aiming to integrate the upstream segment of the company involving green energy projects of 500 MW till the end of 2025. Restart Energy targets to buy or develop 100 MW projects in the next 10 years. The projects will necessitate investments evaluated at 100 million dollars per year, from the fields of solar energy, aeolian energy, biogas, biomass, and geothermal energy.
The Sărmășag park will generate an annual energy production of 55 million KWh, enough for supplying 30.000 households with green energy. The project will help prevent the release of 1,23 million tones of CO2 during its operational lifetime of 25 years.
115 new jobs
The Sărmășag project was purchased at the “brownfield” stage from a team of developers with experience in green energy parks. Through this project, Restart aims to create 100 jobs during construction and 15 permanent jobs during operation.
“We are happy to be able to move forward in the development of a renewable asset that produces clean, green energy from the sun. Construction is scheduled to begin this year, in spring and we hope that the first green KWh produced by the sun will enter the grid latest in the first quarter of 2022. For the next period, Restart Energy will focus on producing sustainable electric energy using solar energy”, says Armand Domuța, CEO and founder of Restart Energy.
Last year, Restart Energy had a 180 million lei turnover. The management’s plans are for this year to increase the company’s turnover to 300 million lei and the net profit to 50 million lei.
In January 2021, Restart Energy signed a partnership with the American Investment Fund Interlink Capital Strategies in Washington DC for financing 500 MW renewable projects in Romania by 2025, for the distribution of local green energy to all end customers.
In February 2021, Restart Energy successfully concluded its first bond issue dedicated to developing and acquiring renewable energy production assets in Romania, attracting 16.3 million lei. The offer was oversubscribed, underlining investors’ high interest in the company and the green energy segment.
In September 2021, following a 4-year development, Restart Energy launched another unique worldwide project, the RED platform, based on owned certification blockchain technology for both carbon print, as well as CO2 avoided to be eliminated in the atmosphere. The platform allows transactions between participants for environmental attributes and renewable energy, www.redplatform.com.
Every time someone plants a tree, clears a beach, consumes green energy, or takes any environmental action, they can register this action on the RED platform. Once the data is validated in the platform, the equivalent CO2 footprint is calculated and tokenized carbon credits are issued that can be used to buy green energy or to obtain 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.
In 2022, the company focuses on electric energy and green energy solutions
This year, Restart Energy is targeting the completion of work on the 50 MW project worth €40 million, obtaining planning permission for further 500 MW, and the implementation of solar PV projects for industrial customers worth €20 million.
Since the forth quarter of last year, the company has started implementing its expansion strategy in the production solutions area for small and medium-sized companies and prosumers. In line with the strategy adopted at the beginning of last year, Restart Energy is exploring new segments of the local and regional energy market that can offer steady growth prospects in the upcoming years, with high added value and creating synergies within existing business lines, such as the development of rooftop PV capacities. Thus, at the end of last year, Restart Energy generate revenues of around EUR 2 million exclusively from the segment of rooftop capacity development for industrial customers.