A giant solar power plant with 700 MW capacity is being planned in Romania by an unidentified investor who also owns PV parks, to come up in Arad County. If the local media reports are correct and the project sees light of the day, it would catapult Romanian solar market to limelight, among other well established and growing PV markets in Europe since it would be one among the largest solar PV projects in Europe.
Local radio network Radio (România) Timişoara reported on February 23, 2021 about the Arad County Council organizing a public debate for the project, as requested by the unidentified investor. The proposed 700 MW solar PV facility is planned to be built on more than 1,000 hectares of land in the commnunes of Grăniceri and Pilu— near the country's border with Hungary—for an estimated investment of close to €700 million.
In a related development in Romania, independent supplier of electricity and natural gas Restart Energy has acquired a 45 MW solar power plant from unidentified developers, that's currently at the ready-to-build stage. The project will come up in Sărmășag in Sălaj County of Romania.
Local media referred to a company statement to report that Restart Energy will build the plant for $30 million aiming for a commercial operation timeline of March 2022-end. On completion, it is expected to generate 55 GWh annually.
It would be the utility's 1st step as part of its strategy to develop and acquire 500 MW renewable energy capacity by the end of 2025 for an estimated $100 million annually, taking the cumulative to $500 million. Part of the plan is to purchase and develop 100 MW of solar, wind, biogas, biomass and energy projects annually.
Restart Energy wants achieve this 500 MW capacity through a joint venture with US based consultant and fund manager Interlink Capital Strategies, it announced in January 2021. The latter will act as a strategic advisor to finance these projects.
They want to also be partnering on an online blockchain technology platform focused on the US market through Restart Energy Democracy (RED) that allows peer-to-peer energy trading. At the same time, the Romanian company will launch a fully digital energy business franchise and a carbon credit system for renewable energy production and consumption.
"Through this partnership we can access US capital and accelerate Restart Energy's goal of providing 1 billion kWh annually of renewable energy accessible to 300,000 consumers in Romania and Europe by 2025," shared CEO and Founder of Restart Energy, Armand Domuța to explain the rational behind the Interlink partnership. "This will allow Restart Energy to contribute to the reduction of carbon dioxide emissions from energy production by 750 million kg of CO2 per year so that by 2025 it will become the first supplier in Romania to deliver 100% locally produced green energy."
Restart Energy has joined ranks with other conventional electricity suppliers in the country who are now diversifying in the renewable energy space. In July 2020, Electrica Group forayed into the domain with the acquisition of a 7.5 MW DC/6.8 MW AC solar power plant (see Romanian Power Supplier Enters RE Domain).
It was followed by state backed natural gas producer Romgaz entering a memorandum of understanding (MoU) with oil and gas drilling company GSP to build a 150 MW natural gas facility and a 50 MW PV project (see Romanian Gas Producer Planning 50 MW PV Project).
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