Restart Energy lists the convertible green bonds at BVB

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Restart Energy, a local electricity and natural has supplier lists its convertible green bonds tomorrow, April 21st, at the Bucharest Stock Exchange. This step is part of the company’s strategy to supply 100% renewable energy in the next five years.

The access to financing and the visibility offered by BVB by listing the green bonds will help Restart Energy in finalizing the 500 MW green energy projects that Restart Energy wants to develop in the next five years in Romania and neighboring countries. This plan requires funding worth 500 million euros.

“We believe that the Romanian capital market has reached a maturity that allows it to be a credible alternative for financing the development of local companies. The listing of the bonds does not bring for REO only access to capital, but offers the company local and regional visibility for potential investors, clients, and partners”, says Armand Domuța, CEO and founder of Restart Energy.

The issue of green bonds convertible into shares has a total value of 16,361,200 lei, maturing in 2026, and a fixed annual interest rate of 9%, payable semi-annually. The bonds will be convertible into shares starting in the fourth year, under the conditions set out in the Listing Memorandum, which will be available on the website of BVB, Restart Energy, and the authorized consultant – Goldring. Goldring is the company that brokered the private placement of REO26 bonds concluded in advance on February 3rd, 2021.

The company’s management hopes that in the first half of the year it will complete the acquisition of ten operational photovoltaic projects with a capacity of 30 MW installed. The investment in the purchase of the ten parks is around 30 million euros. This new transaction comes after Restart Energy bought a 45 MW photovoltaic park ready to build in Sărmășag (Sălaj) in February.

Restart Energy currently has 92 employees. The Sărmășag Park will create approximately 115 jobs (15 permanent and 100 temporary, during the construction period), while the parks that could enter the Restart Energy portfolio in the coming months will mean hiring ten people.

 

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