Swiss-based energy company MET Group announced its entry into the Romanian renewables market, with the acquisition of a 100 % stake in a solar project currently at an advanced planning stage. The 52 MW project is expected to reach ready-to-build status by the first quarter of 2023.
MET has signed a share purchase agreement to acquire an SPV holding all the rights of the 52 MW solar project. The project with an expected energy production of approximately 82 GWh per year, enough to cover the demand of some 50,000 households, is located in southern Romania, near Bucharest, and should be put into operation in 2024.
Romania represents the fourth additional country this year in which MET Group has acquired renewable energy projects after Italy, Spain, and Poland. MET has announced the acquisition of a 213 MW solar project pipeline in Italy, a 50 MW ready-to-build solar project in Spain, and a 60 MWp PV project in Poland. The Italian projects are part of Keppel MET Renewables AG, a new joint venture with MET’s strategic partner Keppel Infrastructure, pursuing renewable energy opportunities in Western Europe.