Restart Energy signs connection contract for 50 MW solar project in Sărmasag, Sălaj County

Restart Energy signs connection contract for 50 MW solar project in Sărmasag, Sălaj County

The project involves an investment of 40 million euros

• Investment estimated at 40 million euros in the city of Sărmasag, Sălaj
• Annual energy production of 60 million KWh – enough for 40,000 families
• New jobs: 150 under construction, 15 permanent ones under operation
• The solar park could start producing energy in the first quarter of 2022
• Objective 2022: solar photovoltaic projects for industrial customers worth 20 million euros.

Bucharest, Timisoara, 17 December 2021: Restart Energy, one of the largest independent electricity suppliers on the local market, announces the signing of the connection contract for the 50 MW solar project in Sărmașag, Sălaj County. The project represents an investment of approximately 40 million euros, money that will be used for the construction of the park which would come into operation in the first quarter of 2022.

This 50 MW project is Restart Energy’s first step in its strategy to develop and integrate the company’s upstream segment with 500 MW of renewable energy projects by the end of 2025. Restart Energy aims to acquire or develop 100 MW of projects in each of the next five years. The projects will require investments estimated at $100 million per year and are aimed at the solar, wind, biogas, biomass and geothermal energy sectors.

The Sărmasag park will have an annual energy production of 55 million KWh, enough to provide green energy to approximately 30,000 families. Thanks to its commissioning, the release into the atmosphere of 1.23 million tonnes of CO2 will be avoided during the 25 years of operation.

115 jobs

The Sărmasag project was purchased in the «brownfield» phase by a team of developers with experience in the field of green energy parks. Through this project, Restart aims to create 100 temporary jobs (during construction) and 15 permanent jobs during the operation period.

«We are pleased to have been able to advance the development of an important renewable asset that produces clean, green energy. Work is scheduled to begin this spring and we hope that the first green KWh produced by the sun will be fed into the grid by the first quarter of 2022. In the coming period Restart Energy will focus on the sustainable production of active electricity using solar energy»he says Armand DomuțaCEO and founder of Restart Energy.

Restart Energy recorded a turnover of around 180 million lei in 2021. Management’s plans call for the company to increase its turnover to 300 million lei with a net profit of 50 million lei in 2022.

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

In February 2021, Restart Energy successfully closed its first bond issue dedicated to the development and acquisition of renewable energy production assets in Romania, thus attracting 16.3 million lei. The offering received an excessive number of requests, underlining the high investor interest in the company, but also in the green energy segment.

In September 2021, after 4 years of development, Restart Energy launched another globally unique project, a platform based on its own technology for blockchain certification of both carbon footprint and carbon dioxide avoided from being removed into the atmosphere, as well as for direct exchange between participants of environmental attributes and renewable energy, www.redplatform.com.

Every time someone plants a tree, cleans a beach, consumes green energy or takes any action to protect the environment, they can record this action on the RED platform. After the data is validated in the platform, the equivalent CO2 footprint is calculated and tokenized carbon credits are issued which can be used to purchase green energy or obtain the cash equivalent. At the same time, a company can obtain carbon credits in the form of green tokens for its customers, through unique QR codes printed on products or purchase receipts.

In 2022, the company will focus on the electricity and green energy solutions segment

This year Restart Energy aims to complete work on the 50 MW project worth €40 million, obtain planning permission for another 500 MW and build solar PV projects for industrial customers worth €20 million.

Starting from the 4th quarter of last year, the company began to implement the expansion strategy in the area of ​​​​production solutions dedicated to small and medium-sized businesses, as well as prosumers. In line with the strategy adopted at the beginning of 2021, Restart Energy is exploring new segments of the local and regional energy market that can offer a prospect of constant growth, with high added value in the coming years and that create synergies within existing business lines, such as the development of rooftop photovoltaic capacities. Therefore, by the end of 2021, Restart Energy generated revenues of approximately €20 million exclusively from the segment of rooftop capacity development for industrial customers.