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January 26, 2023

Restart Energy announces sales worth over 10 million EUR, on the segment of photovoltaic systems for industrial clients, by the end of 2022

35 million EUR estimated revenue from green energy in 2023

 Restart Energy, one of the largest independent electricity suppliers on the local market, announces sales worth over 10 million EUR on the segment of photovoltaic systems with a total installed capacity of approximately 15 MW by the end of 2022. In 2023, the company expects revenues worth 35 million EUR in the corporate solar panel segment.

Most requests come from the industrial sector, and intensive energy consumers, but also from the retail or HoReCa field.

 “Solar installations of renewable energy production from photovoltaic sources, for self-consumption of large, small and medium-sized companies, will face a solid demand over the next three years. The main factors that will support this demand are the high energy prices but also the need for renewable energy consumption. At the moment, demand is exceeding supply in the market and we estimate that it will take at least another 3-4 quarters to see a balance. We hope that the legislative framework will also encourage this market segment,” says Armand Domuta, General Manager Restart Energy.

The company ends 2022 with a turnover of 55 million EUR and targets revenues of 72 million EUR in 2023.


Strengthening leadership in energy transition services


Restart Energy will continue to focus on the execution of the strategy adopted in 2021, based on two main pillarsꓽ accelerating growth in energy transition services, in parallel with the growth of the upstream segment, which includes the development, construction and operation of solar renewable energy generation capacity for industrial plants as well as large-scale projects up to 500 MW.

By 2023, Restart Energy aims to reach a target of at least 45 MW installed through the Restart Solar product, in the commercial solar segment. For the next 3 years, the company aims to double the installed capacity every year and to expand by 50% from 2026 onwards.

Another strategic objective of the company is the development and construction of utility scale photovoltaic parks. Restart Energy aims to maintain an annual pipeline of at least 500-600 MW and commission at least 150 MW annually.

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, to supply 100% locally produced green energy to all end customers.

In February 2021, Restart Energy successfully launched the first convertible green bond issue in Romania to be listed on the Bucharest Stock Exchange with the code REO26.

In October 2021, after 4 years of development, Restart Energy launched another globally unique project, a platform based on blockchain technology that brings multi-lateral solutions to key sustainability partners. Developers of sustainable projects can obtain tokenized carbon certificates and/or guarantees of origin based on the certification of environmental benefits through the RED Carbon Standard, and companies and individuals can calculate and neutralise their carbon footprint by supporting these projects. Blockchain technology provides transparency to all processes, and the flexibility of the platform grants unique technical benefits in project development as well as emissions calculation processes. The first project certified with the RED Carbon Standard was launched in November 2022, with approximately 53,000 carbon certificates issued for it.




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