Following regulations adopted by the Romanian government over the past two years and the uncertainty of the renewable energy market, Monsson Group has decided to dismantle its 27 MW wind park in Targusor, the company said Tuesday, adding major changes in legislation have rendered the project financially unfeasible.
Monsson Group added it is looking to invest its capital in other countries, within and outside the European Union.
In Romania, Monsson will dismantle its wind turbines but will keep the park’s infrastructure and power transforming station. The park was installed in 2012 but was never slated into operation.
Founded in 1997, Monsson Group is one of the largest wind farm developers in Romania, with a portfolio of more than 2,400 MW. The company said it invested over EUR200 million in wind and solar power in Romania.
The group currently has operations in 20 countries on four continents.
Romania supports renewable energy output through a green certificate scheme, which has been a major source of controversy among conventional energy producers. In 2013, the government decided to reduce the support granted to renewable energy producers.