MET Group expands into German renewables market

Aug 01, 2023

Save to read list Published by Jessica Casey, Deputy Editor Energy Global, Monday, 31 July 2023 11:00

Swiss-based energy company, MET Group, is growing its European portfolio by entering the German renewables market, with a 100% stake acquisition in a solar development project.

MET Group have completed the purchase of a 100% stake in the Kentzlin photovoltaic project, developed by project developer Emeren Germany GmbH. The solar plant, once completed, will have an installed capacity of 11.5 MWp and an energy production of approximately 13 GWh per year, corresponding to the average annual consumption of 3600 German households.

Located in the state of Mecklenburg-Western Pomerania, the project reached ready-to-build status by mid-July. The solar power plant is expected to start commercial operations in 2H24.

MET Group is an established player in the German natural gas and electricity market. In recent years, MET has acquired 3.4 TWh of underground gas storage facilities, secured LNG regasification capacity, opened a local supply subsidiary and is rapidly growing its sales activities to municipal utilities, industrial customers and, most recently, households. MET's entry into the renewables market is a further step to expanding the Group’s activities in Germany.

Christian Hürlimann, Renewables CEO of MET Group, said: “The Kentzlin project fits well into MET’s strategic vision to enter the highly competitive German renewables market, as well as to further expand its renewables portfolio across Europe and particularly in Western Europe.”

MET Group’s renewables expansion strategy aims to reach a 2 GW installed capacity portfolio by 2026, thus playing an active role in the European energy transition. In 2022, MET was able to enter the renewables market in four new countries, with acquisitions in Spain, Italy, Poland, and Romania.

The Summer 2023 issue of Energy Global hosts an array of technical arti-cles focusing on alternative fuels, battery storage solutions, solar optimisation, and more. This issue also features a regional report on the recent developments in the European renewables market.

Read the article online at: https://www.energyglobal.com/solar/31072023/met-group-expands-into-german-renewables-market/

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