MET Group extends its renewables portfolio in Europe

The Swiss-based MET Group is growing its European renewables portfolio by expanding into the Italian and Spanish markets having already acquired a 100 percent stake in five greenfield solar power projects in Italy with an expected installed capacity of 213 MWp, and a ready-to-build solar power project in Spain with an expected installed capacity of 50 MWp – increasing its total portfolio to 714 MWp.
MET Group extends its renewables portfolio in Europe
MET Group Renewables CEO Christian Hürlimann

On 9th February and 2nd March 2022, MET Group signed share purchase agreements with Italian developers to acquire 100 percent stakes in five greenfield photovoltaic development projects in Central and Southern Italy. The photovoltaic power plants are expected to achieve ready-to-build stage in 2024.

On 7th April, MET Group acquired a 100 percent stake in a Spanish 50 MWp solar project at ready-to-build status. The Puerto Real 3 project is situated in the Andalucía region of Spain, known for its high irradiation levels. The project should start commercial operations in the summer of 2023.

Within MET Group, a dedicated Green Assets Division provides all the necessary expertise and support to the renewable expansion strategy, with an ambitious target of reaching a 1 GW renewables portfolio by 2026. The integrated energy company aims for a 500 MW portfolio to be in operation by 2023, and an additional 500 MW by 2026. MET is targeting further growth of wind and solar installations across the European Union, seeking to play an active role in the energy transition.

“Our goal is to build a geographically diversified 1 GW pure-play renewables portfolio in Europe, and with these transactions we have now also entered the Italian and Spanish renewables markets” said Christian Hürlimann, Renewables CEO of MET Group. “MET’s expansion strategy focuses on European markets where we already have a local presence, building on our existing operations across the Group. MET’s sales subsidiaries already offer green power and services to their customers, and the percentage of partners adopting renewable energy products is constantly increasing. MET Group is dedicated to support a sustainable energy future for Europe.”

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