More than 200,000 households will be supplied with green energy following the connection contract concluded by Agrovoltaics, a company of the Restart Energy group, with Transelectrica, worth 56 million lei, according to Agerpres.
According to the quoted source, the agreement represents another important stage in the development of a photovoltaic park with an installed power of 500 MW which will be located in the town of Şimand, Arad county.
The photovoltaic park is the second largest in Romania and will be financed by the US Exim Bank through the American fund Interlink Capital Strategies in Washington DC.
According to the company, Restart Energy received a letter of interest from the US Exim Bank for financing the project with 380 million dollars.
“In order to support the financing agreement, the company intends to use American technology, which will include state-of-the-art photovoltaic panels produced in the USA by SEG Solar, one of the leading manufacturers in the field, and energy storage batteries produced by TESLA, with a capacity of 1 GWh,” the press release states.
The management of Restart Energy estimates the start of construction in the second quarter of 2025 and the completion of the project by December 31, 2026. According to the quoted source, it is estimated that this action will generate more than 300 new jobs in the coming years.
“This project is a strategic one, which strengthens Restart Energy’s position on the green energy market in the region. The photovoltaic park contributes to the protection of the environment, both by reducing the negative impact and by replacing existing polluting capacities that use fossil fuels. We are proud to contribute significantly to Romania’s transition to renewable energy,” said Armand Domuța, CEO & Founder of Restart Energy.
The photovoltaic park will produce over 800,000 MWh annually and will help reduce carbon emissions by approximately 400,000 tons per year, i.e. 12 million tons of CO2 avoided, throughout the life of the project, meaning environmental benefits worth over 1 billion of dollars.
“The European Union is making sustained efforts to meet the objectives set out in the Paris Agreement on climate change, with the ultimate goal of providing clean energy throughout the European Union. Through the National Integrated Energy and Climate Plan for 2021-2030 (INECP), Romania aims to develop new energy capacities from renewable sources in order to reach the target of 30.7% of renewable energy in the national energy mix,” the press release also states.