MET Group buys 263 MWp of solar projects in Italy, Spain

Solar system in southern Italy. Author: Richard Allaway. License: Creative Commons, Attribution 2.0 Generic.

April 28 (Renewables Now) - Switzerland-based energy company MET Group has arrived in the Italian and Spanish renewables markets after acquiring a total of 263 MWp of solar PV projects.

The energy trader announced on Thursday it had signed share purchase agreements with developers in Italy to take full ownership over five greenfield PV projects totalling some 213 MWp. These projects are sited in Central and Southern Italy, and are expected to reach ready-to-build stage in 2024.

In Spain, MET Group bought a 100% stake in one 50-MWp solar project that had already achieved ready-to-build status. The project is named Puerto Real 3 and is located in Spain’s southern region of Andalusia. The Group expects Puerto Real 3 plant to start commercial operation in the summer of 2023, it said.

No other details about the transactions were released.

The acquisitions in Spain and Italy boosted the size of MET Group's portfolio to 714 MWp, the company 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,” commented Renewables CEO of MET Group Christian Hurlimann.

The Group hopes to reach the 1-GW goal by 2026, with 500 MW going online by 2023 and another 500 MW starting operations by the end of the planning period.

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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