MET swoops on 52MW Romanian solar

• Project near Bucharest is expected to get to RTB status in Q1 2023

Switzerland-based MET Group is entering into the Romanian renewables market, with the acquisition of a 100% stake in a 52MW solar project at a late drawing board.

The project is expected to reach ready-to-build status by the initial quarter of 2023.

MET has actually authorized a share purchase agreement to get an SPV holding all the legal rights of the 52MW solar project, situated in southern Romania, near Bucharest.

It is anticipated to become part of operation in 2024.

Romania represents the 4th additional nation this year in which MET Group has actually gotten renewable energy projects after Italy, Spain, and also Poland.

MET has actually revealed the procurement of a 213MW solar PV project pipeline in Italy, a 50MW ready-to-build PV project in Spain, as well as a 60MW PV project in Poland.

The Italian projects become part of Keppel MET Renewables, a brand-new joint venture with MET's critical partner Keppel Infrastructure, going after renewable energy possibilities in Western Europe.

The Romanian PV project fits well right into MET Group's critical vision to expand its renewables portfolio in Europe as well as will certainly help it to reach a 2GW mounted capacity portfolio by 2026.

Christian Hürlimann, Renewables CEO of MET Group stated: "We already have solar and wind farm projects in Hungary, Bulgaria, Poland, Italy and Spain.

" And also currently, we onboard our initial PV project in Romania which is a nice fit to our expanding renewables generation portfolio.

" As we aim to develop a geographically varied renewables portfolio in Europe, MET likewise targets renewable energy financial investments in Germany as well as various other Western European nations.

" Our expansion method focuses specifically on European markets where we currently have a neighborhood presence, structure on our existing procedures throughout MET Group and giving renewable energy to our regional consumers."