MET Group’s first solar power plant has started its operation
After a successful testing period, Hungary’s currently biggest solar power plant has kicked off its commercial operation. MET Dunai Solar Park is the first renewable energy investment of MET Group, and it will supply power equivalent to the consumption of around nine thousand households. The 17.6 megawatt (MW) solar park was partly built on the site of the Dunamenti Erőmű power plant, belonging to MET Group.
MET Group started to prepare the brownfield investment in early 2016 and the planning and licensing process was launched in August 2016. After almost two years of preparations, the construction was completed within one year, in August 2018. After the successful testing period, the commercial operation started by the end of Q3 2018.
Please click here to watch the drone video about the construction of Dunai Solar Park.
MET Group has completed the €25 million investment by involving market-based project financing from a commercial bank, without any state aid. The solar power plant incorporates the latest technologies and has an expected lifetime of at least 25 years, with revenues for the first 20 years of this period guaranteed under the mandatory electricity off-take (KÁT) licence. The project was implemented on an underutilized, peripheral area on the site of the Dunamenti Power Plant and the area of a former fish farm, providing a new, value-added function to formerly unused industrial lands.
“One of the key elements of MET Group’s new business strategy is the development of a diversified asset portfolio, in which the introduction of renewable energy sources is essential. In addition to sustainability considerations, we see in this both business opportunity and revenue-generating ability,” said Péter Horváth, Managing Director of Dunai Solar Park and Director of Business Development at MET Power, after the official inauguration of MET Dunai Solar Park. Mr. Horváth added: “Százhalombatta has excellent industrial capabilities, we could have hardly found a more ideal location for MET Dunai Solar Park.”
“We are extremely proud that our city hosts one of Hungary's biggest solar power plants. The investment of MET Group is a new milestone in Százhalombatta’s energy production, launching a pure green chapter in the life of our city,” said Százhalombatta Mayor Mihály Vezér.
MET Dunai Solar Park is the first element of MET Group’s Hungarian renewable energy portfolio. The company plans further investments, the goal being to install a total of 50-100 MW solar generating capacity in Hungary.
About MET Group
MET Group is an integrated European energy company, headquartered in Switzerland, with activities in natural gas, power and oil markets. MET is present in 15 countries through subsidiaries, 28 national gas markets and 23 international trading hubs. The Group is owned by its managers and employees, CEO Benjamin Lakatos having a majority stake. The company’s workforce of over 1,700 employees currently comprises a total of 32 nationalities.