Restart Energy Completes €200,000 Solar Project for Biorom Ralex
Restart Energy has completed the construction and installation of a photovoltaic project for Biorom Ralex, valued at over €200,000. The investment is expected to be amortized within approximately three years, according to a company statement.
The rooftop project, with a capacity of 400 kWp, was installed on a building owned by Biorom Ralex in 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 annually, covering approximately 75% of the company's energy needs.
The solar panels will reduce CO2 emissions by approximately 127 tons per year and radioactive waste by 1 kg per year. The carbon emission reductions will be monitored through the RED platform, implemented in 2021, which calculates carbon footprints, reduces emissions through sustainability projects, or offsets the carbon footprint. Green attributes and carbon credits can be sold internally through RED's marketplace.
"This project covers a significant portion of our energy consumption and offers cost predictability in an increasingly dynamic energy market, while reducing our carbon footprint," said Sighiartau Petru Rares, Administrator of Biorom Ralex.
Romania has committed to a 34% target for renewable energy by 2030 under the PNRR, compared to other EU countries aiming for 45%. "EPC projects make sustainability profitable for companies, providing a solid argument for global action towards a better future," said Armand Domuța, CEO & Founder of Restart Energy.
Restart Energy handled the entire energy efficiency project for Biorom Ralex, from consultancy and design to implementation. Romania is projected to be among the top 20 markets for photovoltaic growth in the next four years, according to Solar Power Europe.
In January 2021, Restart Energy partnered with Interlink Capital Strategies to finance 500 MW of renewable projects in Romania by 2025. In February 2021, Restart Energy launched Romania's first convertible green bond issue, listed on the Bucharest Stock Exchange under the code REO26. In June 2024, the company signed a connection contract with Transelectrica for a 500 MW photovoltaic park, expected to power over 200,000 households with green energy and reduce carbon emissions by approximately 400,000 tons annually.
Restart Energy's photovoltaic project portfolio under development exceeds 1,000 MWp. In June 2024, the company issued a second corporate bond, REO29E, to be listed on the Bucharest Stock Exchange.
Source: Financial Intelligence
