Restart Energy: Green bond offer, oversubscribed in the first 10 days

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Restart Energy, one of the largest independent suppliers of electricity and natural gas on the local market, obtained a financing of 16.361 million lei, following the successful conclusion of a green bond offer held between January 20 and February 3, oversubscribed and concluded in advance after the first 10 days from launch. The value of the offer was of 15 million lei.

The bond issue marks the company’s entry into the capital market and is the first step in executing its development strategy over the next 5 years. Through this approach, Restart Energy aimed to obtain at least 3 million euro for investments. The interest will be of 9%, the due date on 09.02.2026, and the steps for listing on the Bucharest Stock Exchange – SMT will be initiated in the next period. The investment was brokered by the brokerage firm Goldring and conducted through the Stock Exchange System (BVB).

The demand for Restart Energy bonds was high, the issuer taking the decision to supplement the offer and for an early closing on February 3, 2021. Thus, the total number of bonds subscribed was of 163,612, while the total number of sole subscribers was of 105. The average value of the investment is of 155,820 lei.

“In the first month of the year, we have already marked two notable stages in our strategy: the partnership in a joint venture with the American company Interlink Capital Strategies in Washington, DC (USA) and this green bond issue that puts us on a clear horizon of attaining our goals within the deadline. Together with Goldring’s partners, we were able to take this significant first step for Restart Energy One, in a very short amount of time. We are impressed by the real interest, the trust we have received from such a large number of investors. At the same time, we have already taken the first steps in the directions assumed in the Offer Document and, soon, we will make some announcements in this regard,” said Armand Domuţa, general manager of and founder of Restart Energy.

The Restart Energy strategy aims to expand the number of customers, and, implicitly, the market share, the integration of renewable production assets, the regional expansion and the achievement of the target to supply 100% energy from renewable sources.

The management of Restart Energy, a company founded in 2015 in Timişoara, aims at a significant increase in turnover by increasing the number of customers, but also by adding new business lines – such as the sale of equipment. Thus, Restart Energy relies on revenues of 220 million lei in 2021, up by 100 million lei (+83%), as compared to last year. The company’s management plans to reach a net profit of 24.2 million lei at the end of 2021, compared to about 13 million lei (estimated) last year.

Restart Energy is an independent supplier of electricity and natural gas, with 100% Romanian capital, established in 2015 in Timisoara. Restart Energy has over 30,000 individual customers and approximately 5,000 corporate customers. The company has operations in Romania and Serbia and, starting in 2021, intends to expand in several European markets, including Germany and Spain.

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