Restart Energy implements a photovoltaic system project worth more than 500,000 euros for Cottontex
Restart Energy, one of the largest independent electricity suppliers on the local market, announces the signing of a contract worth more than 500,000 euros with Cottontex, for the installation of photovoltaic photogenerators with a power combined 700 kWp.
The project includes the installation of 1,556 photovoltaic panels, over an area of 5,000 square meters, on the roofs of the Cottontex factories in Timisoara and Lugoj. The photovoltaic generator will produce 20,250 MWh in the next 25 years, representing a reduction in electricity costs of 4,050,000 euros. Thus, the company’s investment of more than 500,000 euros will be amortized in less than 3 years.
The investment aims to cover 32% of Cottontex’s energy needs and involves a reduction in the company’s carbon footprint of 6,375 tonnes and a reduction in radioactive waste of 60 kg.
“Solar projects are becoming interesting for more and more Romanian companies and we expect this trend to continue growing. Basically, with a quick payback investment, energy costs drop dramatically and we all benefit from a cleaner environment. The photovoltaic systems are modular and the sizing is done according to the needs of each customer, the location, the orientation of the roof or the degree of shading”, explains Armand Domuța, General Manager of Restart Energy.
“We are a family business with a sustainable business approach, constantly investing in new technologies. We made the transition to green energy with a vision for the future. In addition to the financial arguments, we also considered the beneficial effects of green energy on the environment,” said Erol Baeram, CEO of Cottontex.
In January 2021, Restart Energy signed a partnership with the American fund Interlink Capital Strategies in Washington DC to finance the development of 500 MW of renewable projects in Romania by 2025, in order to provide 100% locally produced green energy to all end customers.
In February 2021, Restart Energy successfully launched the first issue of convertible green bonds in Romania which were listed on the Bucharest Stock Exchange, with the code REO26.
In September 2021, after 4 years of development, Restart Energy launched another unique project in the world, a platform based on its technology to certify on the blockchain both the carbon footprint and the carbon dioxide avoided from being eliminated in atmosphere, as well as direct trade between environmental attributes and renewable energy players, www.redplatform.com.
Every time someone plants a tree, cleans a beach, consumes green energy, or takes action to protect the environment, they can log that action on the RED platform. Once the data is validated on the platform, the equivalent CO2 footprint is calculated and tokenized carbon credits are released which can be used to purchase green energy or obtain the cash equivalent. At the same time, a company can obtain carbon credits in the form of green tokens for its customers through unique QR codes printed on products or purchase receipts.