MET Group acquires a 100% stake in a 50 MWp photovoltaic project in Spain. The Puerto Real 3 program is located in the Andalusian region, known for its high level of sunshine.
A target of 1GW by 2026
MET Group inaugurates its first 50 MWp photovoltaic project in Spain. The facility located in the Cadiz region will be operational in the third quarter of 2023. The Puerto Real 3 project will cover 130 hectares with over 88,000 solar panels.
CMC Europe will provide expertise in engineering, procurement and construction of the plant. The solar park will connect to the electrical grid via a pre-existing high voltage station. This installation, equipped with the latest technology, should have a life span of at least 30 years according to MET Group.
An international presence
MET Group has a long-standing business relationship in Spain with its local subsidiary MET Energia España. In addition, the company supplies natural gas as well as electricity to Spanish end consumers. Christian Hürlimann adds on this subject:
“Our expansion strategy is focused on European markets where we already have a local presence as part of the MET Group. Some of our subsidiaries are already offering green energy to their customers and the percentage of our partners adopting renewable energy products is growing steadily. Our goal is to acquire ready-to-build assets, invest in greenfield or brownfield sites, or sign power purchase agreements (PPAs).”
In 2021, MET Group acquired COGEN Energia España. The company is an integrated European energy company with its headquarters in Switzerland. It operates in the natural gas and electricity markets in 13 countries.
