MET Group, a Swiss energy business, has added over 250MW to its solar portfolio by acquiring projects in Spain and Italy.
MET has taken a 100 percent ownership in five greenfield solar power projects in Italy with a combined capacity of 213MW and a 50MW ready-to-build solar power project in Spain, bringing its total portfolio to 714MW.
MET entered share purchase agreements with Italian developers on February 9 and March 2, 2022, to buy 100 percent holdings in five greenfield solar development projects in central and southern Italy.
In 2024, the projects are scheduled to be ready to construct.
On April 7, MET purchased a 100 percent ownership in the Puerto Real 3 project in Andalusia, Spain, which is expected to begin commercial operations in the summer of 2023.
A specialised green assets division within MET Group provides all of the essential expertise and assistance to the renewable expansion strategy, with the goal of reaching a 1GW renewables portfolio by 2026.
By 2023, the integrated energy company hopes to have a 500MW portfolio operational, with another 500MW by 2026.
MET is working to increase the number of wind and solar installations across the European Union, in order to help with the energy transition.
Christian Hurlimann, CEO of MET Group Renewables, remarked “Our goal is to build a geographically diversified 1GW pure-play renewables portfolio in Europe, and with these transactions we have now also entered the Italian and Spanish renewables markets.”