Restart Energy has completed the construction and installation of a photovoltaic project for Dip&Gip, totaling more than 200.000 €. The investment of the beneficiary will be amortized in about 3 years.
The rooftop project has a capacity of 299 kWp and was installed on the roof of a production facility belonging to the beneficiary, located in Brasov.
The photovoltaic plant consists of 545 panels covering a total area of 3,100 square meters. The panels will produce 335 MWh of energy per year, about 35% of the company's energy needs.
The solar panels reduce CO2 emissions released into the atmosphere by about 105 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.
„Photovoltaic panels are a promising solution for cost efficiency and a necessity in the fight against climate change. The current investment will pay for itself in three years and save our company around €80,000 per year”, says Puchianu Ioan Dumitru, Dip&Gip Administrator.
„For 2024, we plan to strengthen the photovoltaic panel segment for customers and to increase the share of green energy in the energy supplied by developing our own photovoltaic parks. In the process, we are facing a number of challenges, such as a volatile market where human resources are difficult to identify and retain and where technological progress is accelerating in terms of the equipment that makes up the system for converting solar energy into electricity”, 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 56 million lei 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.
Growing renewable energy sector
Globally, the cumulative power of photovoltaic systems amounts to just over 850 GW, representing 4.4% of global energy production. Of this, a large share is hydroelectric (about 57.7%) and solar comes to 11.5%. According to International Energy Agency (IEA) forecasts, energy production by photovoltaic systems is expected to grow exponentially, from 2,000 TWh in 2024 to four times that amount by 2030.
In Romania, at the beginning of 2024, the number of prosumers connected to the distribution grid exceeded 110,000 - more than 2.7 times higher than at the beginning of 2023, when there were 40,171, and more than eight times higher than in 2022. At the end of February 2024, prosumers in Romania had more than 1,400 MW of installed capacity, more than five times higher than at the same time last year. This represents a share of 7.9% of the total installed capacity in Romania.
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 Domuța 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.
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