Romania's Monsson is set to construct a renewable energy facility worth 10 million euros.

Romanian renewable energy developer Monsson announced on Thursday that it will establish a factory for producing and assembling components for the industry near the former Petrila coal mine, located in Hunedoara County in the west of the country.

"We have accessed the Just Transition Program and with 70% co-financing, we plan to start construction of this factory this year, around June or July. The total investment is valued at 10 million euros (approximately $10.8 million)," said Sebastian Enache, head of M&A at Monsson, in a press release.

"This is a project that has attracted several companies from the industry. We are contributing our expertise and investment, and I am hopeful that by the end of the year, we will have a functional facility in the industrial area," he added.

In the initial phase, Monsson expects to create 50 to 70 new jobs. Enache also mentioned that the financing contract for the project has been signed, with construction permits expected to be secured in June.

Monsson also has plans to construct two battery energy storage systems (BESS) with capacities of 20 MWh and 50 MWh, respectively.

Active in the Romanian renewable energy sector for over 15 years, Monsson has developed a project pipeline exceeding 7 GW in wind and solar capacity.