Restart Energy Implements EUR 1mln PV Project for Florea Grup

Restart Energy, one of the largest independent suppliers of electricity on the local market, announces the signing of a contract worth over 1 million euros with Florea Grup company, for installing a photovoltaic generator with a power of 1,740 kWp.

The project involves the installation of 3,867 photovoltaic panels, on an area of 9,866 square meters, on the roof of the Petra Pavaje factories in four locations: Alba Iulia, Ploiesti, Arad, and Roman. The photovoltaic generator will produce 45,775 MWh in the next 25 years, meaning a reduction in electricity costs of 5,149,725 euros. Thus, the company’s investment of over 1 million euros will be amortized in less than 5 years.

The investment aims to cover 23% of Florea Grup’s energy consumption and involves a reduction of the company’s carbon footprint by 15,775 tons and radioactive waste by 150 kg.

“Photovoltaic systems are a convenient and reliable solution for streamlining operating costs. Such a system produces green energy over a long period with minimal maintenance costs. In fact, photovoltaic systems are so competitive that the cost of producing solar energy for a new plant that also needs amortization is twice as low as the cost of producing a coal plant already amortized,” says Armand Domuta, General Manager of Restart Energy.

“The motto of the prefabricated division is ‘In harmony with nature’. We have chosen this slogan based on what we have done, and we maintain this commitment in all our practices. As Henry Ford said, you can’t build a reputation based on what you want to do, but on what you’ve done. From the very beginning, our projects focused on reducing our environmental footprint. We are always looking for ways to optimize our business, energy-wise. From small changes, such as reducing plastic consumption in the hotels we own to large projects like these photovoltaic parks, every change for the better is a step forward. Petra Pavaje products have a minimal impact on the environment, thus allowing customers to benefit the environment even when they decide to purchase pavements for their yards. If each participant in the economy will contribute to this change, it will create a snowball effect that will have a major impact on the environment,” says Marcel Florea, General Manager of Florea Grup.


Main steps

  • In January 2021, Restart Energy signed a partnership with the US fund Interlink Capital Strategies in Washington DC to finance the development of 500 MW of renewable projects in Romania by 2025, to provide 100% green energy produced locally to all final customers.
  • In February 2021, Restart Energy successfully launched the first issue of convertible green bonds in Romania that were listed on the Bucharest Stock Exchange, under REO26 code.
  • In September 2021, following a 4-year development, Restart Energy launched another unique worldwide project, a platform based on owned certification blockchain technology for both carbon print, as well as CO2 avoided to be eliminated in the atmosphere. The platform allows trans-actions between participants for environmental attributes and renewable energy,

Every time someone plants a tree, clears a beach, consumes green energy, or takes any environmental action, they can register this action on the RED platform. Once the data is validated in the platform, the equivalent CO2 footprint is calculated, and tokenized carbon credits are issued that can be used to buy green energy or to obtain the cash equivalent. At the same time, a company can obtain carbon credits in the form of green tokens for their customers, through unique QR codes printed on products or purchase receipts.


About Restart Energy

Restart Energy is an independent electricity supplier, with mixed Romanian American capital, established in 2015 in Timisoara. Restart Energy has over 40,000 household customers and approximately 5,000 corporate customers. The company is present in the Romanian and Serbian markets.


About Florea Grup

Founded in 1996 as a family business, Florea Grup is one of the largest companies in Transylvania, with a turnover of over 200 million lei and more than 700 employees. Florea Grup is one of the most important companies producing precast concrete, concrete, asphalt mixtures, quarry aggregates, and mineral aggregates. The company is also active in the field of fuel distribution, the hotel industry, and civil and industrial construction.

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