RO energy trader partners with US company for USD 500 mln green energy projects
Restart Energy, one of the largest independent suppliers of electricity and natural gas in Romania, entered into a joint venture with Washington-based Interlink Capital Strategies to develop USD 500 million in green energy in Romania and neighboring countries, and expand into the US market with an innovative blockchain electricity trading platform.
The investment in Romania will finance the acquisition and development plans of 500 MW of renewable energy projects by the end of 2025.
Restart Energy’s plan is to acquire and develop 100 MW of solar, wind, biogas, biomass, and geothermal energy projects per year.
Restart Energy’s projects will seek annual investments of approximately USD 100 million. Interlink will act as a strategic advisor to arrange funding for these projects.
The two companies decided to further strengthen their relationship by becoming partners for expanding the Restart Energy business into the American market - by launching together in the USA the Restart Energy Democracy (RED) platform - an online energy trading platform based on blockchain technology.
The platform allows peer to peer transfers between energy producers and final consumers, launch of a fully digital energy business franchise and carbon credits system for renewable energy production and consumption.
The RED Platform was launched in 2019, initially in Romania Restart Energy's home market where it has the highest customer base of approximately 30,000 household customers and 5,000 corporate customers.