The panels cover an area of 10,000 square meters and will produce 1,287 MWh of energy per year, fully covering the company's energy consumption.
”We are here to support our partners in their energy transition, to become sustainable by using locally produced green energy and profitable by optimizing energy costs. It is our responsibility to know in detail the problems they face and to offer them the best solutions. We also understand, perhaps more than multinational companies, the need for flexibility specific to the Romanian market, and we try to minimize the time wasted with specific bureaucracy,” says Armand Domuța, CEO & Founder Restart Energy.
Restart Energy provided the entire energy efficiency project for the beneficiary company, from consulting and design to implementation.
In January 2021, Restart Energy signed a partnership agreement with the American fund Interlink Capital Strategies from Washington DC to finance the development of 500 MW of renewable projects in Romania until 2025, in order to supply 100% green energy produced locally to all end customers.
In February 2021, Restart Energy successfully launched the first convertible green bond issue in Romania that was listed on the Bucharest Stock Exchange, with the code REO26.
In June 2024, the Restart Energy group signed a connection contract with Transelectrica worth RON 56 million for a 500 MW photovoltaic park, which will supply green energy to more than 200,000 households. The photovoltaic park will produce more than 800,000 MWh per year and will help reduce carbon emissions by around 400,000 tons per year, or 12 million tons of CO2 avoided, over the lifetime of the project, with environmental benefits worth more than $1 billion.
Restart Energy Group's portfolio of PV projects under development is over 1,000 MWp.
In June 2024, Restart Energy issued its second corporate bond issue, after the 2021 REO29E, to be listed on the Bucharest Stock Exchange.
The solar EPC market in Romania is following an upward trajectory, supported by favorable policies, international investment and strategic projects that align with the country's renewable energy goals, a recent Neomar study shows.
At the beginning of 2024, installed solar capacity in Romania amounted to about 3.1 GW, of which about 1.6 GW in PV parks. By 2030, the national strategy aims to increase this to more than 8 GW, in order to have 36% of energy from renewable sources.
The positive evolution of the PV project market is boosted by the policies implemented by the Romanian government to facilitate the development of solar projects, including the relaxation of regulations on the use of agricultural land for solar installations until 2026 and improved permitting processes. These measures have reduced the approval time for utility-scale PV projects with a footprint of less than 50 hectares to 6–12 months.
