MET Group extends its renewables portfolio in Europe - targets 1 GW of installed capacity by 2026

ZUG, Switzerland, April 28, 2022 /PRNewswire/ -- MET Group is growing its European renewables portfolio by expanding into the Italian and Spanish markets. The Swiss-based energy company acquired a 100% 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.

On 9 February and 2 March 2022, MET Group signed share purchase agreements with Italian developers to acquire 100% 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 7 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 1GW 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.

Christian Hürlimann, Renewables CEO of MET Group said: "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. 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."

MET Group
MET Group is an integrated European energy company, headquartered in Switzerland, with activities and assets in natural gas and power markets. MET is present in 13 countries through subsidiaries, 26 national gas markets and 22 international trading hubs. In 2021, MET Group's consolidated sales revenue amounted to EUR 18,1 billion, the volume of traded natural gas was 55 BCM.

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