Romania: Monsson Group gives up on wind project, Investors
After it has been the star sector of the Romanian economy for several years, the renewable energy sector is now starting to decline.
Wind farm developer Monsson Group, together with its project partners, has recently decided to remove the wind turbines from the 27 MW CEE Targusor project in Constanta, Romania, due to market uncertainty.
“Unfortunately, major changes in renewables legislation don’t allow the project to further meet the economic parameters estimated initially, becoming financially unfeasible. As a result, we’ve decided to remove the wind turbines,” said Sebastian Enache, Business Development Manager, Monsson Group.
The company will remove the wind turbines from the project in Romania, but will keep the infrastructure and the transformation station. The investment’s future is to be decided in the coming months.
Moreover, the company considers redirecting capital and investments in other countries.
The wind park at Targusor has a total capacity of 27 MW and was installed in 2012. However, the wind park was never put into operation because of the unfavorable legislative framework, according to Sebastian Enache.
Established in 1997, Monsson Group has invested over EUR 200 million in Romania, in building and operating wind and solar parks. The group currently operates in 20 countries.