MET Group cuts sod for 50-MWp solar project in Spain

Switzerland-based energy company MET Group said on Tuesday that it has broken ground on a 50-MWp solar PV project in southern Spain.

Puerto Real 3 is MET Group’s first solar project in Spain after operating for over six years in the market as the supplier of natural gas and power to end-customers. The energy trader, and now power producer, acquired the project at ready-to-build stage from an undisclosed party in April 2022.

The Puerto Real 3 project is located in the Spanish region of Andalusia. The plant itself will feature over 88,000 solar panels occupying almost 130 hectares of land. China’s CMC Europe has been selected to serve as the EPC contractor on the project.

MET Group expects the solar farm to start commercial operation in the third quarter of 2023.

The group’s Green Assets Division is in charge of the company renewables expansion strategy with a goal to reach 1,000 MW of installed capacity across Europe by 2026.

“Our expansion strategy focuses on European markets where we already have a local presence, building on our existing operations across MET Group,” said Christian Huerlimann, Renewables CEO of MET Group. “[…] From a business model perspective, our power plant portfolio with renewable energy sources is relying on both support mechanisms and market-based revenues (PPAs). Our objective is to acquire ready-to-build assets, to develop greenfield and brownfield sites, as well as to establish PPA cooperations with companies”.

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