German STEAG buys wind farm from Romanian Monsson, plans EUR 200 mln investments

German electricity producer STEAG recently acquired the 108 MW Crucea North Wind Farm Project in Constanta County, Romania, from local private wind energy developer Monsson Group. STEAG will invest around EUR 200 million in this wind farm, which will have 36 wind turbines of 3MW. “STEAG has been active in Romania for ten years as a project developer and engineering service provider. With the Crucea North project we extend our know-how in the field of wind energy,” says Daniel Vosswinkel, who is also responsible at STEAG GmbH for the development of major renewable energy projects. The project should be operational by the end of next year and create indirectly around 100 new jobs. Once the construction of Crucea North is completed, it will produce clean electricity for approximately 200,000 Romanian households and reduce CO2 emissions by more than 300,000 tons per year, according to Monsson. “We believe Romania clearly 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,” said Andrei Muntmark, Commercial Director of Monsson Group. The Crucea North project, located in the Dobrogea area, some 50 km North-West of the port of Constanta, will form part of a larger wind farm complex with total capacity of at least 600 MW. STEAG generated sales of EUR 3.1 billion and an EBITDA of EUR 491 million with a workforce of some 5,800 employees in 2011. One of Germany’s largest electricity producers, STEAG operates eleven power stations and more than 200 distribution facilities to generate energy from renewable sources and supply power and heat on a contractual basis to industrial and other customers. Established in 1997, Monsson Group has focused on renewable energy since 2004 and has more than 2.4 GW worth of projects in its portfolio, out of which 850 MW have already been sold to CEZ, OMV Petrom, ButanGas and STEAG. Monsson Group developed, and sold to CEZ, the largest onshore wind farm outside the USA; Fantanele and Cogealac 600 MW wind farm, out of which 400 MW are already in operation and the rest to be completed in 2012. With more than 150 employees, Monsson offers services for wind farms in development, construction and operation. It also acts as an electricity trader on the Romanian and Hungarian markets and in the next three years plans to increase its own capacity production up to 200 MW. editor@romania-insider.com