Restart Energy to install 45 MW solar power plant in Romania

Restart Energy 45 MW solar power Romania

Photo: PublicDomainPictures from Pixabay


February 23, 2021






February 23, 2021





In the first step in the creation of a renewable energy production portfolio of 500 MW, Restart Energy acquired a ready-to-build project and announced it would invest USD 30 million in the construction of a 45 MW solar power plant.

Electricity and gas supplier Restart Energy said it would build a photovoltaic plant in the northwest of Romania and that it aims to launch production by the end of March next year. The company revealed the project is worth USD 30 million. The planned capacity of the solar power plant is 45 MW.

One hundred workers will be needed in the construction phase while the facility will create 15 permanent jobs, according to the investor. The output of the photovoltaic park in Sărmășag in Sălaj County is projected at 55 GWh per year, matching the consumption of 25,000 Romanian households. According to the announcement, it would prevent the release of 1.23 million tons of carbon dioxide over the 25 years of its operation.

Project is shovel-ready

The purchased project is ready to be built, Restart Energy added. It said it is the first step in developing and integrating its upstream segment with 500 MW renewable energy projects by the end of 2025, by buying or developing 100 MW per year. It founded a joint venture with Interlink Capital Strategies from the United States for the endeavor.

The construction of the Sărmășag solar power plant will partly be funded through private equity and banks

The company estimated annual investments in the next five years at USD 100 million. Restart Energy said it targets solar, wind, biogas, biomass and geothermal energy.

The Sărmășag project was purchased at the brownfield stage from a team of experienced developers, the company pointed out.

Construction to start by end of June

“We are delighted to be able to contribute to the green development of Romania’s energy infrastructure as well as to help balance the grid by introducing a new renewable asset that produces clean, green energy from the sun during peak hours. Construction is scheduled to begin in the second quarter of this year,” Chief Executive Officer and Founder Armand Domuța stated.

Besides the company’s own funds, the project will be financed via private equity and banks, Restart said. Last year it had a turnover of EUR 24.6 million and a net profit of EUR 2.7 million. The management vowed to boost the figures to EUR 54.1 million and EUR 5 million, respectively.

Restart recently issued bonds denominated in the domestic currency and raised EUR 3.3 million for the development and acquisitions of renewable energy production assets in Romania. The firm, established in 2015 in Timișoara, also operates in Serbia, while it is interested in expanding to Germany and Spain and other European markets.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles


Record 21.1 GW of new offshore wind capacity deployed in 2021 – GWEC report

29 June 2022 - By the end of this decade, 260 GW of new offshore wind is forecast to be added globally, with total capacity reaching 316 GW

G7 reverses climate policy support LNG gas nuclear power

G7 reverses climate policy with support for LNG, gas, nuclear power

29 June 2022 - The G7 reaffirmed its commitment to climate goals, but it backed the deployment of gas, particularly LNG, and of nuclear power

Romania renewables statistically attributed Netherlands

Romania’s renewables can statistically be attributed to Netherlands

28 June 2022 - The EU enables countries to pay other member states to formally make up for shortfalls in achieving own green energy targets


EU faces challenges in delivering on ambitious offshore wind target

28 June 2022 - The ambitious target could prove challenging due to expected shortages of specialized offshore wind installation vessels