Restart Energy signs contract for 50 MW solar project in Salaj. EUR 40 M investment

Restart Energy independent energy supplier 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, eolian energy, bio-gas, 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 the 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.

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.