Restart Energy announces the signing of the connection contract for the 50 MW solar project from Sărmășag, Sălaj county. The project represents an investment of approximately 40 million euro, money that will be used for the construction of the park that will be functional in the first quarter of 2022.
The 50 MW project is the first step in Restart Energy’s development strategy, aiming to integrate the upstream segment of the company involving green energy projects of 500 MW until the end of 2025. Restart Energy targets to buy or develop 100 MW worth of projects in the next 10 years. The projects will need investments evaluated at 100 million dollars per year, from the fields of solar, wind, biogas, biomass, and geothermal energy.
The Sărmășag park will generate an annual energy production of 55 million KWh, enough for supplying 30.000 households with green energy. The project will help prevent the release of 1,23 million tones of CO2 during its operational lifetime of 25 years.
The Sărmășag project was purchased at the “brownfield” stage from a team of developers with experience in green energy parks. Through this project, Restart aims to create 100 jobs during construction and 15 permanent jobs during operation.
“We are happy to be able to move forward in the development of a renewable asset that produces clean, green energy from the sun. Construction is scheduled to begin this year, in spring and we hope that the first green KWh produced by the sun will enter the grid latest in the first quarter of 2022. For the next period, Restart Energy will focus on producing sustainable electric energy using the solar energy”, says Armand Domuța, CEO and founder of Restart Energy.
Last year, Restart Energy had a 180 million lei turnover. The management’s plans are for this year to increase the company’s turnover to 300 million lei and the net profit to 50 million lei.