MET Group is growing its European renewables portfolio by expanding into the Polish market. The Swiss-based energy company acquired a 100% stake in a greenfield solar power project in Poland, with an expected installed capacity of 60 MWp.
On 26 August 2022, MET Group signed a share purchase agreement with TOREN Spółka Akcyjna, a Polish renewables project development company to buy its greenfield photovoltaic development project in Western Poland. The solar power plant is expected to achieve ready-to-build status in 2023.
Christian Hürlimann, Renewables CEO of MET Group said: “We already have solar and wind park projects in Hungary, Bulgaria, Italy, Spain, and now in Poland. As we aim to build a geographically diversified renewables portfolio, MET also targets Romania, Croatia, and Germany where the investment environment for renewable energy is improving, and interesting investment opportunities can be developed. From a business model perspective, our project portfolio is relying on both support mechanisms and market-based revenues (PPAs). Our objective is to acquire ready-to-build assets as well as to develop greenfield and brownfield sites.”
MET Group
MET Group is an integrated European energy company, headquartered in Switzerland, with activities and assets in natural gas and power markets. MET is present in 13 countries through subsidiaries, 27 national gas markets, and 22 international trading hubs. In 2021, MET Group’s consolidated sales revenue amounted to EUR 18,1 billion, the volume of traded natural gas was 55 BCM, the traded electricity was 50+ TWh.