Swiss-based European energy company MET Group has acquired a 100% stake in a 42-megawatt wind park in Bulgaria, after signing a share purchase agreement with Italian Enel Green Power. The transaction is part of MET’s growth strategy to develop a significant renewable portfolio in the CEE region.
On 12 October, MET Group signed a share purchase agreement with Enel Green Power S.p.A., the renewable arm of Enel Group, to acquire its 42 MW wind park located close to Kavarna, in North-eastern Bulgaria. The closing of the transaction is expected to take place before the end of December 2020.
The wind park, the 5th largest in Bulgaria, consists of two sites in the municipality of Shabla and Kamen Bryag, with 14 units of Vestas-V90 wind turbines – 3 MW capacity each. The wind farm, operating since 2010, supplies power equivalent to the consumption of around 30,000 households.
MET Group has entered the renewable generation market with two solar parks in Hungary. The company now has ambitious plans in renewable energy production in Central and Eastern Europe. MET considers the growth in the renewable power generation in Central and Eastern Europe as a core part of its business strategy going forward, whilst also supporting the energy transition away from coal in Europe.
“This acquisition is a clear sign of the implementation of MET Group’s integrated strategy to develop a strong renewable portfolio in the CEE region. Our goal is to build a geographically diversified portfolio of power generation and infrastructure assets, with a substantial renewable asset portfolio. As for the diversification of energy sources, I am convinced that our focus on renewables is the right approach, and together with our core competence around natural gas as a transition fuel we can support energy developments towards carbon neutrality,” Benjamin Lakatos, CEO of MET Group commented on the transaction.
About MET Group
MET Group is an integrated European energy company, headquartered in Switzerland, with activities in natural gas, power, and oil markets. MET is present in 14 countries through subsidiaries, 26 national gas markets and 22 international trading hubs. In 2019, MET Group’s consolidated sales revenue amounted to EUR 11.7 billion, the volume of natural gas traded was 50 BCM. MET is owned 80% by its employees and 20% by Keppel Corporation.