Restart Energy has signed an agreement for equity investments with US-based Tejas Capital Group LLC (Tejas) for up to €21 mil. at €87,5 mil. valuation.
The funds will be allocated to the development of Restart Energy’s proprietary 500 MW solar photovoltaic project pipeline.
Restart Energy also aims to install and integrate at least 200 MWh of energy storage capacity into renewable projects to provide grid services and balancing the portfolio.
Due to the liberalization of the market, the company attracted 25.000 customers in the first six months of the year, 50% more than the management’s expectations.
At the same time, the energy and gas volumes delivered to end customers during the first six months of the year increased by 30%, respectively 50%, compared to the same period last year.
In February, Restart successfully concluded its first bond issue dedicated to developing and acquiring renewable energy production assets in Romania, attracting 3,3 million euro.