Portfolio Expansion: Swiss MET Group Buys Second Wind Farm in Bulgaria

Zug/Switzerland - On 30 July 2021, the Swiss energy company MET Group signed a share purchase agreement to acquire 100 percent stake in the Suvorovo wind farm in western Bulgaria.

The seller of the wind farm is Grupo Enhol, a Spanish family-owned company with a focus on renewable energies. The closing of the transaction is expected to take place in Q3 2021.

The Suvorovo wind farm on the Black Sea coast consists of 30 Gamesa G90 wind turbines with a capacity of 2 MW each. With a total capacity of 60 MW, the park thus accounts for around 8.5 per cent of the total installed wind capacity in Bulgaria of around 700 MW. The wind farm, which has been in operation since 2012, produces approximately 120 million kWh (120 GWh) of electricity per year.

"This is our second successful renewable asset acquisition in Bulgaria as part of our CEE renewables growth strategy of reaching 500 MW in operation by 2023", Benjamin Lakatos, CEO of MET Group said on the transaction. MET Group considers the growth of renewable power generation in the Central and Eastern Europe (CEE) region as a core part of its business strategy. As Met Group points out, this transaction will provide MET with a strong local renewables footprint in Bulgaria following the acquisition of the 42MW Black Sea Wind Park earlier this year.

MET Group is a European energy company headquartered in Switzerland, active in the natural gas and power markets. MET is present in 14 countries, 25 national gas markets and 22 international trading hubs through subsidiaries. In 2020, MET Group's consolidated turnover amounted to 11.2 billion euro.

Source: IWR Online, 03 Aug 2021