Bucharest, Timiaoara, 30th of July 2024. Restart Energy has completed the construction and installation of a photovoltaic project for the company Biorom Ralex, totaling more than 200.000 euro. The beneficiary's investment will be amortized in about 3 years.
The rooftop project has a capacity of 400 kWp and was installed on the roof of a building belonging to the beneficiary, located in the municipality of Dej, Cluj county.
The photovoltaic plant consists of 800 panels covering a total area of 2,100 square meters. The panels will produce 404 MWh of energy per year, about 75% of the company's energy needs.
Solar panels reduce the amount of CO2 emissions released into the atmosphere by about 127 tons per year and radioactive waste by 1 kg per year.
The reduction of carbon emissions through the implementation of solar energy projects will be monitored through the RED platform, implemented in 2021, a platform dedicated to carbon footprint calculation, carbon reduction through sustainability projects or carbon footprint offsets. Green attributes, both those obtained for individual sustainable actions and carbon credits, can be sold internally through the RED platform's marketplaces, through a technologized, transparent and secure process dedicated to reducing carbon emissions and improving ESG policies.
„The project covers a large part of our energy consumption and gives us predictability of operational costs in an increasingly dynamic energy market. Implicitly, it reduces the company's carbon footprint by avoiding CO2 emissions”, says Sighiartau Petru Rares, Administrator Biorom Ralex.
„Romania has set itself a target of 34% renewable energy by 2030, compared to 45% in other EU countries. EPC projects make sustainability profitable for companies, a strong argument to be part of a global action for a better future. Restart Energy offers customized solutions to companies concerned about reducing energy costs and lowering their carbon footprint”, spune Armand Domuaa, CEO & Founder Restart Energy.
Restart Energy provided for the beneficiary company the entire energy efficiency project, from consulting and design to implementation.
Romania in the world's top 20 for photovoltaic growth over the next four years, according to Solar Power Europe
Romania was last year among the countries that added more than 1 GW of installed photovoltaic capacity and at the rate projected for the next few years, it will be among the top 20 fastest-growing markets in the world, according to Solar Power Europe, the photovoltaic industry association in Europe.
The newly installed PV capacity between 2024-2028 in Romania could be 9,000 MW in a negative scenario, around 15,000 MW in a medium scenario, and around 19,000 MW in an optimistic scenario, a recent forecast by the same source shows.
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, with a view to supplying 100% locally produced green energy 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 56 million lei for a 500 MW photovoltaic park that 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.
About Restart Energy
Restart Energy is a leading energy company with mixed Romanian-American capital. With more than 15 years of expertise of the management team, Armand Domuaa and Renato Doicaru set up Restart Energy in 2015 reaching today a portfolio of more than 150 renewable solar energy projects. Through the EPC projects implemented, the company offers its partners stability and predictability and facilitates their access to energy. Restart Energy has a major regional and local role to play in helping companies streamline costs and increase profitability through sustainable green energy projects.
Restart Energy recently received the Energy Transition Award from The Diplomat magazine, the Transformational Leadership Award from Business Review magazine, and the Energy Excellence Award from Club Antrepreneur.
About Biorom Ralex
Established in 2013, in Dej, Cluj County, Biorom Ralex specializes in the purchase, processing and marketing of mushrooms, fruits, and medicinal plants from Romania's wild flora. Some of the company's products are certified BIO or BIOSUISSE. The company ended 2023 with a turnover of €5,892,345
