MET Group divests from Hungarian natural gas distributor TIGÁZ and acquires solar power plants

MET Group sells its 49,57 percent stake in the Hungarian natural gas distributor TIGÁZ Zrt. to Opus Global Nyrt. MET also announces the 100 percent acquisition of the Buzsák 77 MWp solar power plant in Hungary, in line with its CEE renewables growth strategy.

On 11 March 2021, MET Group signed a share purchase agreement with Opus Global Nyrt., selling its 50 percent shareholding in MS Energy Holding AG, representing a 49,57 percent stake in TIGÁZ Zrt. The transaction is expected to close on 31 March 2021.

At the same time, MET acquires a 77 MWp photovoltaic power plant project from Opus Global Nyrt. in the Hungarian municipality of Buzsák. This is a greenfield solar power plant project in a ready-to-build (RTB) status, expected to produce 83.7 GWh electricity annually.

MET Group announced its European renewables expansion strategy in 2019. The energy company is dedicated to build a significant 500+ MW renewables portfolio by 2023, consisting of solar and wind projects in the CEE region.

MET has recently acquired in Hungary a 48 MWp photovoltaic project in Gerjen and a 43 MWp project in Söjtör, both at RTB status. The construction of these solar plants is expected to begin in Q2/Q3 2021. When completed, the three power plants (Buzsák, Gerjen and Söjtör) will provide electricity to over 90 thousand households between them.