Restart Energy, a Romanian entrepreneurial company developed in Timisoara by local businessman Armand Domuta, which recently announced plans for USD 500 million investments in renewable power capacities, will begin its expansion with a EUR 3-5 mln green bond issue on the Bucharest Stock Exchange.
Local brokerage firm Goldring will handle the bond issue, which will pay a yearly coupon of between 8% and 10%.
The bond offer is only the first step of the expansion plan, Restart Energy owner Armand Domuta confirmed.
“In the next five years, we aim to reach ambitious but achievable targets: renewable energy production capacity of 500 MW, 300,000 retail and business customers, and a market share of 2.5% for electricity and 1.5% for natural gas on a fully digital model. The amount obtained through this bond issue will help us achieve these objectives,” Armand Domuta said in a statement.
In 2018, Restart Energy announced raised USD 30mn by issuing 400 mln MWAT tokens in an Initial Coin Offering (ICO) to finance a blockchain-based trading platform for renewable energy.
The market capitalization of MWAT as a token is now some USD 2.5 mln, according to coinmarketcap.com.
At the time of the offer, Restart Energy said it expected to strengthen its revenues from USD 20 mln in 2017 to USD 100 mln in 2018.
Now, nearly three years later, it says it aims to increase its revenues by about 80% this year, to RON 220 mln (USD 55 mln).
The growth will be driven by the liberalization of the local energy market for retail clients and new business lines with higher added value, such as equipment sales.
(Photo courtesy of the company)
