By Edwig Ban
Restart Energy, one of the largest independent suppliers of electricity and natural gas in Romania, announced on Monday that it has become a partner in a joint venture with the American consulting and fund management company Interlink Capital Strategies, to develop energy projects. green worth $ 500 million by 2025 in Romania and neighboring countries, as well as to launch the RED platform in the US.
“Restart Energy, one of the largest independent electricity and natural gas suppliers in the local market, has partnered in a joint venture with Interlink Capital Strategies of Washington, DC (USA) consulting and fund management company, for to develop green energy projects worth $ 500 million in Romania and neighboring countries, as well as to launch the RED platform in the USA. The Romanian investment will finance Restart Energy’s plans for the acquisition and development of 500 MW renewable energy projects by the end of 2025 “, the company informed.
The management of Restart Energy wants to purchase and develop every year 100 MW of solar, wind, biogas, biomass and geothermal energy projects. Restart Energy projects will require investments of approximately $ 100 million per year. Interlink will act as a strategic advisor to finance these projects.
The two companies have also decided to become partners in expanding Restart Energy into the US market by launching Restart Energy Democracy (RED) in the US, an online platform based on blockchain technology for energy trading that allows peer-to-peer transfer between energy producers and final consumers.
The two entities will also launch an energy business franchise (in fully digital format) and a carbon credit system for renewable energy production and consumption. The RED platform was launched in 2019 in Romania, the company’s marketplace and the one in which Restart Energy has the largest customer base – approximately 30,000 household customers and 5,000 company customers.
“Through this partnership we can access US capital for the Restart Energy goal of providing 1 Billion KWh annually of renewable energy accessible to 300,000 consumers in Romania and Europe by 2025. This will allow Restart Energy to help reduce greenhouse gas emissions. carbon from energy production… At the same time, Restart Energy will be able to expand into the US market with its innovative blockchain platform, thus having access to a mature and technology-oriented market ”, says Armand Domuţa, CEO and founder of Restart Energy.
For his part, Alan Beard, managing director of Interlink, says that RED’s business model will bring a new, better approach to the way renewable energy is financed, produced and consumed in the United States.
“This leads us to believe that it will improve access to green energy and ultimately help the environment. In parallel, the investment in Restart Energy plans in Europe will allow us to develop other similar projects, especially since Restart is already active in Romania and Serbia and intends to expand this year in Germany and Spain “, says Alan Beard, managing director Interlink.
This partnership is carried out by Restart Energy Innovative Technologies AG (REIT AG), a Swiss company, part of the Restart Energy group of companies. REIT AG is an innovation ecosystem that finances and develops energy technology projects.
Restart Energy is an independent supplier of electricity and natural gas, with 100% Romanian capital, established in 2015 in Timisoara. Restart Energy has over 30,000 individual customers and approximately 5,000 corporate customers. The company has operations in Romania and Serbia and, starting in 2021, intends to develop in several European markets, including Germany and Spain.
Interlink Capital Strategies is a fund management, management consulting and financial consulting company. Founded in 1994 and headquartered in Washington, DC, the company specializes in emerging market financing, renewable energy and business development. The fund is an expert in financial inclusion programs, risk mitigation and development of business opportunities and / or their financing with government credit / investment programs worldwide.
By Edwig Ban