Alina Oprea • 8 August, 2023 at 1:40 PM
The energy company MET Group, based in Switzerland, is expanding its European portfolio and announcing its entry into the segment of energy production from renewable sources in Germany. The group completed the full acquisition of the Kentzlin photovoltaic project, developed by Emeren Germania GmbH. Upon completion of the works, the photovoltaic plant will have an installed capacity of 11.5 MWp, equivalent to the average annual consumption of 3,600 households.
The annual energy production of this park will be approximately 13 GWh.
The project is located in the state of Mecklenburg-Western Pomerania and was in the ready-to-build phase in mid-July. The production facility will be able to start commercial operations in the second half of 2024.
MET announces that entering the market of energy production from renewable sources is a major step in the expansion of the group's activities in Germany.
"The Kentzlin project fits perfectly into MET's strategy, which involves a presence in competitive markets in the renewable energy production sector, such as Germany, and the expansion of the portfolio in Europe, especially Western Europe," said Christian Hürlimann, Managing Director for Renewable Energy MET Group.
MET Group's renewable energy expansion strategy involves expanding the current portfolio reaching an installed capacity of 2 GW by 2026, thus playing an active role in the European energy transition. In 2022, MET entered the renewable energy market in four new countries, through acquisitions in Spain, Italy, Poland, and Romania.
At the end of 2022, MET Group announced a similar transaction in Romania, namely the takeover of a project for a photovoltaic park located near Bucharest, the company thus entering the local segment of green energy production.
In Romania, MET signed an agreement for the acquisition of a company that owns the rights to a 52 MWp photovoltaic project. The project can reach an energy production of 82 GWh per year - equivalent to the annual consumption of 50,000 households. The photovoltaic park will be located in southern Romania, near Bucharest, and will become operational in 2024.