Thanks to its partnership in a joint venture with Italian energy provider Heliopolis, Restart Energy Democracy (RED) is slated to open its first type A franchise in Italy. This announcement comes after a flurry of activity from Restart Energy, the parent company of RED, related to its expansion goals. A meeting between RED’s CEO, Armand Doru Domuta, and Heliopolis’ CEO, Paolo Signoretti, marked the beginning of this new venture.
RED leaders believe that this joint venture is the perfect opportunity for the growing energy provider to enter the Italian market. Thanks to Heliopolis’ local establishment, reputation and expertise, RED’s partnership will allow it to make its way into the market with substantially less risk. What’s more, RED’s expertise in sales and marketing will also benefit Heliopolis, allowing it to establish itself as the premier local energy provider. The flagship franchise and future expansion will ultimately make the RED platform available to consumers in the operational area, which will inevitably grow to the entire country of Italy.
Italy itself has made vast strides when it comes to the procurement of energy. Every single town from north to south and from east to west utilises some sort of renewable energy and thanks to further investments in renewable energy, it is hoped that the country will be among the first to make the move to 100% green energy in the future. In 2017, 8,000 Italian municipalities had a renewable power station of some sort within their borders. Of those, 40 municipalities were able to meet all of their energy needs with renewable sources of energy alone.
This comes as Italy’s current hydroelectric power reaches maximum capacity. In 2016, 39% of the country’s power came from hydroelectric sources, but predictions of only 1% growth per year in the future show that Italy must find alternative sources of renewable energy. A statistical report titled Energy from Renewable Sources in Italy, published in 2016, showed that renewable energy sources are gaining traction. Aside from 39% hydroelectric, Italy also boasts 21% solar, 18% bioenergy, 16% wind and 6% geothermal energy. The country is second only to Germany when it comes to solar renewable energy and it has been a world solar leader since 2013.
Spain set the stage for many European countries when it began funding large-scale renewable energy projects, including a massive wind power project and Italy followed suit. In 2017, the addition of 252 MW of wind-generated power brought Italy’s total wind power capacity to nearly 9.5 GW.
Because RED will only feature energy from renewable sources, the Italian franchise is exciting and lucrative. Tapping into the sector that is growing exponentially – and filled with people who have begun to demand cleaner, greener energy – is sure to help both RED and Heliopolis enjoy success.