MET Group Entering German Renewables Market
MET Group is growing its European portfolio by entering the German renewables market with a 100% stake acquisition in a solar development project based in Mecklenburg-Western Pomerania, Germany.
“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,” comments Christian Hürlimann, CEO of Renewables at MET Group.
MET Group, an integrated European energy company with headquarters in Switzerland, provides services within natural gas and power markets. MET is present in 14 countries through subsidiaries, 30 national gas markets, and 22 international trading hubs.
In 2022, MET was able to enter the renewables market in four new countries, with acquisitions in Spain, Italy, Poland and Romania, and this year MET has widened its portfolio with services in the German renewables market. The company has acquired a 100% stake in the Kentzlin photovoltaic project, established by project developer Emeren Germany.
Located in the state of Mecklenburg-Western Pomerania, the project is consistently developing, having reached ready-to-build status in July. The solar power plant is expected to start commercial operations in the second half of 2024.
Once completed, the solar plant 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 3,600 German households.
MET 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 liquified natural gas regasification capacity, and has opened a local supply subsidiary. The group is rapidly growing its sales activities to municipal utilities, industrial customers and, most recently, households.
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