The company has seven solar plants and two wind farms (in Spain, Italy, Germany, Hungary, Romania, Bulgaria and Poland) and a further 850 MW under development. In 2023, it imported more than 30 LNG cargoes into Europe, regasified at marine terminals in eight countries, including Spain.
Original article in Portuguese: Jornal de Negócios
After seven years in Spain, MET Group – which has activities in the natural gas, electricity and renewables sectors – has started its operations in Portugal in February 2025, confirmed Ángel Crespo, CEO of the Spanish subsidiary MET Energía España, in an interview with Negócios. The company is keeping an eye on the growth potential of the Portuguese energy market and has not ruled out the possibility of using the port of Sines to import liquefied natural gas to Europe. The company, founded in Hungary in 2007 but headquartered in Switzerland, is also planning to invest in renewables projects in the country.
“In the first phase of our expansion into Portugal, the focus will be on energy sales, but we are open to investing in renewable generation projects, whether through strategic alliances or the development of new projects,” the manager assured. The company currently has seven solar power plants and two wind farms (in Spain, Italy, Germany, Hungary, Romania, Bulgaria and Poland) and a further 850 MW under development.
Currently managed from Madrid (but with plans to open an office in Lisbon with a local team), MET Group’s activity in Portugal focuses on the wholesale electricity and natural gas markets (with risk and volatility management products). In addition, the company will also operate in the country through long-term power purchase agreements (PPA), hedging solutions for solar producers, marketing of guarantees of origin and supply of natural gas and liquefied natural gas (LNG) to Portuguese companies.
“We have clients operating in both Spain and Portugal, which allows us to enter the country with a consolidated portfolio and facilitates integration. But we are also in talks with new clients,” says the CEO, admitting to looking at “other opportunities, including the import and regasification of LNG in Sines”. In 2023, the company imported more than 30 cargoes of LNG into Europe, regasified at marine terminals in eight countries, including Spain.
“We have managed to gain maturity in the Spanish gas sector, adapting to a changing market and undergoing energy transition. It is this flexible business model that we want to replicate in Portugal. It is a natural and important step in our growth strategy in the Iberian Peninsula and reinforces our presence in Europe. Portugal has always been on our radar as a destination for expansion. With both countries integrated into the Iberian market, it facilitates joint operations and the optimization of resources,” he explained.
With revenues of €24 billion in 2023, MET Group traded 88 million cubic metres of gas and 68 TWh of electricity. It has over 1,000 employees, is present in 17 countries around the world, 30 national gas markets and 39 international trading hubs. In terms of installed capacity, MET Group has 564 MW in natural gas power plants, 75 MW of cogeneration, 390 MW of wind and solar power, 8 MWh of battery electricity storage capacity and 3.7 TWh of gas storage. In 2023, the company entered France and made its debut outside Europe, with an office in Singapore, creating MET Asia to expand operations in the region.