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MET Group divests from TIGÁZ and acquires solar power plants in Hungary

Integrated European energy company MET Group is selling its 49,57 per cent stake in the Hungarian natural gas distributor TIGÁZ to Opus Global. At the same time, MET also announced the 100 per cent acquisition of the Buzsák 77 megawatts-peak (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, selling its 50 per cent shareholding in MS Energy Holding, representing a 49,57 per cent stake in TIGÁZ. 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 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 gigawatts-hour (GWh) of 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 the second-third quarter of 2021. When completed, the three power plants (Buzsák, Gerjen and Söjtör) will provide electricity to over 90,000 households between them.

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