Romania's Monsson Group Sells Wind Farm Project to Germany’s STEAG

BUCHAREST (Romania), May 14 (SeeNews) – Romanian wind farm developer Monsson Group said on Monday it has sold its 108 megawatt (MW) Crucea North wind farm project to German power producer STEAG.

STEAG will invest around 200 million euro ($258 million) in the wind farm, the group said in a statement.

The Crucea North wind farm, located in the southeastern Romanian county of Constanta, will have 36 wind turbines with a capacity of 3.0 MW each, supplied by Vestas.

The project is expected to become operational by the end of 2013 and to create indirectly around 100 new jobs, Monsson Group said.

It will produce clean electricity for approximately 200,000 households and reduce CO2 emissions by more than 300,000 tonnes per year.

The Crucea North project will be part of a larger wind farm complex with total capacity of at least 600 MW.

"We believe Romania shows that it has become an attractive investment destination following the recent implementation of detailed renewable energy legislation in line with EU directives and given its naturally abundant wind resources," Monsson Group commercial director Andrei Muntmark said in the statement.

Romania has committed to producing 38% of its electricity from renewable energy sources by 2020 as its contribution to the EU-wide limitation of CO2 emissions.

Monsson Group has wind energy projects worth more than 2,400 MW in its portfolio, out of which 850 MW have already been sold to CEZ, OMV Petrom, ButanGas and STEAG.

STEAG has been active in Romania for ten years as project developer and engineering services provider, the statement added.

($=0.7766 euro)

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