Integrated European energy company MET Group is growing its European renewables portfolio by expanding into the Polish market. The Swiss-based energy company acquired a 100 per cent stake in a greenfield solar power project in Poland, with an expected installed capacity of 60 megawatt-peaks (MWp).
At the end of August, MET Group signed a share purchase agreement with TOREN Spółka Akcyjna, a Polish renewables project development company to buy its greenfield photovoltaic development project in Western Poland. The solar power plant is expected to achieve ready-to-build status in 2023.
“We already have solar and wind park projects in Hungary, Bulgaria, Italy, Spain and now in Poland,” said Christian Hürlimann, Renewables CEO of MET Group. “As we aim to build a geographically diversified renewables portfolio, MET also targets Romania, Croatia and Germany where the investment environment for renewable energy is improving, and interesting investment opportunities can be developed. From a business model perspective, our project portfolio is relying on both support mechanisms and market-based revenues (PPAs). Our objective is to acquire ready-to-build assets as well as to develop greenfield and brownfield sites.”