S'abonner

MET Group invests in Spain

MET Group acquires a 100% stake in a 50 MWp photovoltaic project in Spain.

Share:

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.

  • Popular on energynews.pro
PDVSA prepares to resume oil exports as US licensing eases
Equinor extends Hammerfest LNG terminal shutdown until August 3
Sonatrach and Sinopec accelerate exploration of new oil basins in Algeria
Qatar threatens to divert its gas exports to Asia over European rules
TenneT invests EUR 5.5 bn in Dutch and German grids in the first half of 2025
GoldenPeaks Capital connects two major solar power plants to the Hungarian grid in 2025
GoldenPeaks Capital commissions two large-scale photovoltaic plants in Hungary, strengthening the integration of independent solar generation and the electricity supply on the national market.
Emerge signs 20-year solar agreement with Misk City to power an innovative urban model
Emerge has signed a twenty-year contract with Misk City for the supply of solar electricity through a 621 kWp photovoltaic plant, supporting the site’s environmental certification and urban transformation.
SANY launches 10 MW solar project in Zimbabwe with unique EP+F model
SANY begins construction of a 10 MW solar power plant in Zimbabwe, the first African project integrating engineering, procurement and financing, while continuing its expansion in microgrids and hybrid solutions across the continent.
Stem optimises the integration of the 57 MW Camino solar project in California with its automation technology
Stem deploys a grid optimisation solution for the Camino solar site, with a capacity of 57 MW, in California, meeting IEEE 2800 standards and targeting operational reliability and market performance.
Green Hybrid Power launches billion-dollar floating solar project on Lake Kariba
Green Hybrid Power secures initial $4.4mn financing to launch a 1 GW floating solar power plant in Zimbabwe, aiming to supply 500 MW to industry under a twenty-year contract.
Loblaw launches Canada’s largest rooftop solar system for its logistics centre
Loblaw Group will deploy a 7.5 MW photovoltaic installation on the roof of its East Gwillimbury distribution centre, generating up to 25% of the site’s annual electricity and marking a new step for the Canadian logistics sector.
Shell restructures five U.S. solar projects through joint venture with Ares
Savion, a Shell subsidiary, transfers majority ownership of five solar projects to Tango Holdings, 80% owned by Ares, to optimise the U.S. renewable electricity production portfolio and improve the profitability of the oil group’s investments.
KKR commits $335mn with CleanPeak Energy to support solar distribution in Australia
Investment fund KKR is committing $335mn in a strategic partnership with CleanPeak Energy to accelerate the rollout of solar, storage and microgrid solutions aimed at Australian businesses.
Bluebird Solar launches major investment to double its capacity in India
Bluebird Solar is initiating a significant investment plan in Greater Noida to increase its production capacity to 2.5 GW and integrate automated lines powered by artificial intelligence.
TotalEnergies ENEOS completes rooftop solar power plant with TechnipFMC in Malaysia
TotalEnergies ENEOS has commissioned a 680-kilowatt photovoltaic facility at TechnipFMC’s Johor Bahru site, supplying 20% of the factory’s energy needs under an 18-year power purchase agreement.
Voltalia secures two EPC contracts for 92.9 megawatts of solar power in Ireland
Voltalia has been selected for the construction of two photovoltaic plants in Ireland, totalling 92.9 megawatts, further strengthening its presence in the country’s solar infrastructure market.
Renewable energies strengthen their dominance over global electricity costs in 2024
The latest report from the International Renewable Energy Agency confirms the cost superiority of renewables, but highlights persistent challenges for grid integration and access to financing in emerging markets.
EDP Renewables signs 20-year solar contract with California Water Service
EDP Renewables North America and California Water Service have entered into a 20-year agreement to supply solar energy to a strategic Bakersfield site, reducing grid energy costs by about $1.7mn over the contract duration.
Europe’s solar slowdown marks the first decline in a decade
Solar growth in the European Union is seeing its first annual contraction in ten years, following reduced subsidies and shifting budget priorities in several member states.
Scatec wins 846 MW solar project in South Africa for 735 mn USD
Scatec secures the development of a 846 MW photovoltaic cluster in the Free State province, with an investment of ZAR13bn ($735mn), following the seventh round of South Africa's REIPPPP programme.
Enbridge launches 600 MW solar project in Texas to power Meta
Enbridge invests $0.9bn in a 600 MW solar facility in Texas, fully dedicated to powering Meta Platforms, Inc.'s data centres through a long-term power purchase agreement.
ENGIE acquires a portfolio of 22 solar projects totalling 70 MW in Pennsylvania
ENGIE has announced the acquisition of 22 distributed solar projects in Pennsylvania, further strengthening its renewable energy expansion strategy while supporting the local economy and enhancing the reliability of the distribution grid.
Estuary Power launches Escape Solar and secures major additional financing
Estuary Power commissions the Escape Solar and Storage project in Nevada, integrating 185 megawatts of solar capacity and securing enhanced financing from institutional investors to supply electricity to several major players in the leisure sector.
US tariffs and FEOC restrictions threaten solar supply chain and create risks for the industry
New anti-dumping tariffs and Foreign Entity of Concern (FEOC) restrictions are disrupting the US solar supply chain, while ongoing dependence on China exposes the industry to significant risks, according to Wood Mackenzie.
Sri Lanka signs partnership to roll out solar energy at scale
Sri Lanka and the International Solar Alliance (ISA) have signed a strategic partnership to accelerate solar energy deployment in the country, aiming for 70% renewable energy by 2030.

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING