The cooling systems company RAAL will invest 4 million euros in a photovoltaic panel system that will cover the roof of its factory in Prundu Bârgăului (Bistrița-Năsăud), writes Transilvania Business. 11,000 panels will be installed, part of which will be on land near the factory.

The installation works are scheduled for August-November, according to the memo submitted by the company to the Environmental Protection Agency, and are justified because “the promotion of electricity production from renewable energy sources is an imperative of the current period motivated by environmental protection, increasing energy independence from imports by diversifying energy supply sources, economic reasons and social cohesion”.

Transilvania Business also writes that CEC Bank has granted RAAL Bistrița a 5 million euro loan to support its current activity. The guarantee for the loan is issued by EximBank, under the COVID 19 state aid scheme, which covers 90% of the loan. RAAL produces heat exchangers used in industrial plants and in the automotive industry – an area with growth potential as heat exchanger technology can also be used to increase energy efficiency and reduce energy consumption and costs. “This is an area with great potential in the current context of relocating industrial activities as close as possible to end users and global concerns to reduce carbon footprint,” said Bogdan Neacșu, CEO of CEC Bank.

The company was privatized in 1995. The group employs 2,300 people, has an annual turnover of 325 million lei and two production units in Romania. RAAL has its own research and development team and most of its production is destined for export. The group’s customers include John Deere, Class and Samsung.