MET Group divests from TIGÁZ and acquires solar power plants
MET Group sells its 49,57% stake in the Hungarian natural gas distributor TIGÁZ Zrt. to Opus Global Nyrt. MET also announces the 100% acquisition of the Buzsák 77 MWp solar power plant in Hungary, in line with its CEE renewables growth strategy.
On 11 March 2021, MET Group signed a share purchase agreement with Opus Global Nyrt., selling its 50% shareholding in MS Energy Holding AG, representing a 49,57% stake in TIGÁZ Zrt. The transaction is expected to close on 31 March 2021.
At the same time, MET acquires a 77 MWp photovoltaic power plant project from Opus Global Nyrt. in the Hungarian municipality of Buzsák. This is a greenfield solar power plant project in a ready-to-build (RTB) status, expected to produce 83.7 GWh electricity annually.
MET Group announced its European renewables expansion strategy in 2019. The energy company is dedicated to build a significant 500+ MW renewables portfolio by 2023, consisting of solar and wind projects in the CEE region.
MET has recently acquired in Hungary a 48 MWp photovoltaic project in Gerjen and a 43 MWp project in Söjtör, both at RTB status. The construction of these solar plants is expected to begin in Q2/Q3 2021. When completed, the three power plants (Buzsák, Gerjen and Söjtör) will provide electricity to over 90 thousand households between them.
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.