MET Group starts operations of two solar parks totalling 96 MWp

MET Group announces that the construction works of MET Gerjen Solar Park and MET Söjtör Solar Park have been completed and the solar power plants have commenced commercial operations. The investments cover an area of 170 hectares altogether in the two Hungarian municipalities, where almost 180.000 solar panels have been installed.

The solar parks join the electricity grid through newly installed high-voltage substations. The commissioning of MET Gerjen Solar Park (51 MWp) and MET Söjtör Solar Park (45 MWp) took place over several phases. The two plants will generate enough green electricity to cover the consumption of around 50 thousand households.

To refinance two existing solar parks (MET Dunai Solar Park and MET Kabai Solar Park), as well as to finance the acquisition and construction of three new solar farms (among them the plants in Gerjen and Söjtör), MET Group subsidiary MET Hungary Solar Park Kft. successfully issued a bond in 2021 that subsequently achieved a green rating as well.

MET’s renewables expansion strategy aims to reach a 2 GW installed capacity portfolio by 2026, thus playing an active role in the European energy transition. As part of this overarching strategy, MET Group and Singapore-based Keppel Infrastructure formed a JV company in November 2022, Keppel MET Renewables, to pursue renewable energy opportunities in Europe. Over the past year, MET Group was able to enter the renewables market in four new countries, with acquisitions in Spain, Italy, Poland, and Romania.

In Romania, MET Group has acquired a 100% stake in a solar project at an advanced stage of planning. The 52 MWp project could be ready-to-build by the first quarter of 2023. The park, can also reach an energy output of about 82 GWh per year – equivalent to the annual consumption of about 50 thousand households. Located in southern Romania, near Bucharest, the project is expected to become operational in 2024.