Business Forum • 7 November, 2024 at 5:55 PM
Restart Energy finalized the implementation of a photovoltaic project worth €300,000 for Teleferic Cindrel Company, administrator of the ski area Păltiniș Arena. The beneficiary's investment will be amortized in 3 years. The project consists of 800 panels located on the ground in Păltiniș Arena, Sibiu County.
The panels cover an area of 5,500 square meters and will produce 445 MWh of energy per year, fully covering the company's energy consumption.
„The green energy generated by this system gives us complete energy independence, so we now rely on a secure, stable, and economical energy source, without being dependent on traditional grids or price fluctuations in the energy market. On the other hand, we substantially reduce the carbon emissions associated with our activities and contribute to efforts to combat climate change,” says Dan Gherman, Administrator of Teleferic Cindrel company.
„By providing customized energy efficiency solutions, we aim to create a framework in which green energy becomes accessible and efficient for various sectors, contributing to a cleaner and more responsible economy. This is more than simply adapting to current market demands - it is part of our commitment to building a sustainable energy ecosystem that meets both today's energy demands and the environmental challenges we face globally,” says Armand Domuța, CEO & Founder Restart Energy.
In January 2021, Restart Energy signed a partnership with the American fund Interlink Capital Strategies of Washington DC to finance the development of 500 MW of renewable projects in Romania by 2025, in order to supply 100% locally produced green energy to all end customers.
In February 2021, Restart Energy successfully launched Romania's 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 about 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.
Restart Energy aims to expand renewable energy capacity to over 1 GW by 2030
Restart Energy plans to significantly increase renewable energy production and integrate sustainability into all aspects of the company's operations. By steadily building large-scale solar farms and other renewable projects, the company aims to help not only meet the growing demand for clean energy, but also reduce carbon emissions in the markets it serves.
In the medium term, the company's management plans to allocate a significant budget to invest in next-generation technologies, such as energy storage and smart grid solutions, that will improve the reliability and efficiency of renewable energy and allow more clean energy to be integrated into the grid.
In terms of sustainability, Restart Energy focuses its efforts on reducing its own carbon footprint and supporting customers in achieving the same goal by offering comprehensive energy solutions, including energy management services and carbon reduction programs.