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MET Group issues bonds to finance the expansion of its renewable portfolio

To further the development of solar parks in Hungary, MET Hungary Solar Park (HSP), solely owned by integrated European energy company MET Group, has issued bonds with a 10-year term and face value of 64.8 billion Hungarian forints (approximately 177 million euros) as part of the Hungarian National Bank’s Bond for Growth Scheme.

The total capacity of the MET’s HSP-owned Danube and Kaba Solar Parks, already up and running, combined with the output of the solar parks in Buzsák, Gerjen and Söjtör, still under development and construction, is expected to reach 237 megawatts-peak (MWp) by the end of 2022. This is equal to the electricity consumption of 100,000 Hungarian households.

“The sustainability endeavours that affect the entire world can be realised only with energy efficiency measures and rapid growth in the utilisation of renewable energy,” explained Balázs Gábor Lehőcz, Chairman of the Asset Management Board of MET Group. “In addition, our energy consumption is not decreasing and the greening of industries will require further expansion in electricity generation. Political commitments and moves by the financial investment sector have already started the transition to a green economy. As energy investors, we believe it is our responsibility to significantly increase investment in renewable energy production.”

MET Group is continuously working on expanding its renewable energy portfolio, with plans to finance this expansion, focusing on Central, Eastern and Southern Europe, through the bond program.

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