Wind farm and solar park developer Monsson Goup has sold Romanian electric works company EMON Electric shares to African company EnComm, two years after purchasing the majority stake. The move is part of the company’s strategy of reorientation towards external markets.
Starting August 2016, EMON Electric is no longer a member of the Monsson Group. Monsson bought the majority stake în the electric works company în May 2014. „We believe EMON Electric was an interesting project, but the Romanian market is somewhat stagnant. We prefer to focus our resources on countries that have better growth prospects and are stable from a legislation point of view,” Monsson Development Director Sebastian Enache said in a press release.
According to Enache, in the past two years, Monsson focused on the development of services on the mature markets în South Africa, New Zealand and Europe. In the Gulf area, the company’s main projects focused on renewables integration and desalination solution projects. „We believe these areas are a priority at the moment,” Sebastian Enache explained.
Monsson Group was established in 1997 and since 2004 has focused on renewable energy. With operations in 25 countries, it employs 250 staff in Romania and provides a wide range of services in the renewable energy sector, including development, construction, maintenance, services and more.
Founded în 1998 by Diana and Mircea Solomon, EMON Electric provides solutions for energy and telecommunications infrastructure and smart grid.