Romania, Restart Energy announced the signing of the connection contract for the 50 MW solar project25.May 2022.
Independent energy supplier Restart Energy announced the signing of the connection contract for the 50 MW solar project in Sarmasag in Salaj County, an investment estimated at some 40 million euros.
Restart Energy CEO Armand Domuta said that the construction of the solar power plant is expected to begin in the spring of this year, with the plant entering commercial operation in the first quarter of 2023.
The Sarmasag project was purchased at the brownfield stage from the original developer in February 2021. According to Restart Energy, the
plant will have an annual electricity production of 55 GWh, enough to supply green energy of about 30,000 households.
The investment is part of the company’s plans to develop renewable energy projects in Romania and neighboring countries with a total capacity of 500MW by the end of 2025. The projects will be developed jointly with US-based Interlink Capital Strategies and will require annual investments of 100 million dollars, targeting solar, wind, biogas, biomass and geothermal energy sectors.
Restart Energy recorded revenues of some 16.2 million euros in 2021. For this year, the management targets revenues of more than 60 million euros and a net profit of 10 million euros.