MET Group completes acquisition of 42 MW wind park in Bulgaria
Swiss-based European energy company MET Group has completed the acquisition of a 100% stake in Enel Green Power Bulgaria EAD, which owns a 42-megawatt wind park in Bulgaria. The transaction is part of MET’s growth strategy to develop a significant renewable portfolio in the CEE region.
The 42 MW wind park located in North-eastern Bulgaria is now wholly owned by MET Group, following the successful completion of a share and purchase transaction with Italian Enel Green Power S.p.A., the renewable arm of Enel Group, as seller. The transaction was completed on 20 January 2021, and was cleared by the Bulgarian and Serbian competition authorities.
The wind park, the 5th largest in Bulgaria, is located in the municipality of Shabla and Kavarna, with 14 units of Vestas-V90 wind turbines (3 MW capacity each). The wind farm, operating since 2010, supplies power equivalent to the consumption of around 30,000 households.
MET Group considers the growth of renewable power generation in Central and Eastern Europe as a core part of its business strategy going forward, whilst also supporting the energy transition away from coal in Europe. MET’s goal is to build a geographically diversified portfolio of power generation and infrastructure assets, with a substantial renewable asset portfolio.
MET Group is an integrated European energy company, headquartered in Switzerland, with activities in natural gas and power markets. MET is present in 14 countries through subsidiaries, 25 national gas markets and 22 international trading hubs. In 2019, MET Group’s consolidated sales revenue amounted to EUR 11.7 billion, the volume of natural gas traded was 50 BCM. MET is owned 80% by its employees and 20% by Keppel Corporation.