Swiss-based European energy company MET Group said on Tuesday that it has acquired a 52 MWp solar power project in southern Romania which is currently at a late planning stage, its first investment in the country's renewables market.
Construction will commence in 2023, with the photovoltaic (PV) project set to be put into operation in 2024, MET said in a press release.
Once completed, the PV project will have an output around 82 GWh per year, which corresponds to the annual consumption need of 50,000 homes.
The expansion to Romania is part of the group's strategy to expand its renewables portfolio in Europe and represents an important milestone towards achieving its renewables growth target.
"As we aim to build a geographically diversified renewables portfolio in Europe, MET also targets renewable energy investments in Germany and other Western European countries" said Christian Huerlimann, Renewables CEO of MET Group.
"We have been looking at the Romanian market for some time and managed to grow great partnerships with local developers, and also a substantial pipeline that we are looking into for potential further acquisitions" added Octavian Georgescu, Head of Origination Renewables.
MET Group is an integrated European energy company, present in 13 countries, 27 national gas markets, and 22 international trading hubs. In 2022, MET Group also announced the acquisition of a 213 MWp PV project in Italy, a 50 MWp ready-to-build PV project in Spain, and a 60 MWp PV project in Poland.
(SeeNews, December 6, 2022)
