MET Group buys Comax France, developer of battery energy storage systems

MET Group has purchased a 100% shareholding in Comax France, an owner, operator and developer of combined heat and power (CHP) and battery energy storage systems (BESS). The acquisition, MET Group’s first investment in French energy infrastructure, expands its assets portfolio in Western Europe and addresses the increasing need of balancing technologies to support the energy transition.

Founded in 2003, Comax operates a 170 MW portfolio of small-scale thermal assets and 29 MW of BESS across France providing flexible power generation, storage and balancing services. In addition, Comax is developing further BESS projects to support the continued growth of flexible energy solutions in France. The company’s project pipeline consists of several hundred MW of BESS projects in various stages of development. MET Group intends to support the construction of the company’s ready-to-build projects to be operational by mid-2026.

The production and storage of flexible energy and the provision of balancing services play crucial roles in the European energy transition in support of the continued integration of weather-dependent renewable energy sources. MET Group’s Flexibility Assets Division aims to acquire, operate and build assets which can provide this system flexibility.

Johannes Niemetz, Chairman of the Flexibility Assets Division said: “Flexibility assets are an essential part of MET Group’s integrated strategy to support the energy transition. Our investment profile is fully aligned with the green transition priorities. We are excited to enter the French market for flexible power generation and balancing services as we expand our asset portfolio in Western Europe.”