Swiss power player swoops on 263MW EU solar

Apr 28, 2022 02:34 PM ET
  • MET Group is acquiring six projects in Italy and also Spain increasing its portfolio to 714MW
Swiss power player swoops on 263MW EU solar
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Swiss power company MET Group has increased its solar portfolio by over 250MW by acquiring projects in Spain and Italy.

MET has actually acquired a 100% risk in 5 greenfield solar power projects in Italy with an expected installed capacity of 213MW and a 50MW ready-to-build solar energy project in Spain, enhancing its overall portfolio to 714MW.

On 9 February and also 2 March 2022, MET signed share purchase agreements with Italian designers to acquire 100% risks in 5 greenfield photovoltaic advancement projects in main and southerly Italy.

The projects are expected to achieve ready-to-build stage in 2024.

On 7 April, MET acquired a 100% stake in the Puerto Real 3 project in situated in the Andalucia area of Spain, which should begin commercial operations in the summer of 2023.

Within MET Group, a dedicated eco-friendly assets division supplies all the required knowledge and also support to the eco-friendly development method, with an enthusiastic target of reaching a 1GW renewables portfolio by 2026.

The incorporated power company aims for a 500MW portfolio to be in operation by 2023, and also an added 500MW by 2026.

MET is targeting more growth of wind and solar setups throughout the European Union, looking for to play an active role in the power change.

MET Group renewables chief executive officer Christian Hurlimann stated: "Our objective is to develop a geographically varied 1GW pure-play renewables portfolio in Europe, and also with these transactions we have now additionally went into the Italian as well as Spanish renewables markets."

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