Swiss-based European energy company MET Group has acquired a 100 percent stake in a 42-megawatt wind park in Bulgaria, after signing a share purchase agreement with Italian Enel Green Power.

The transaction is part of the MET growth strategy to build a large renewable portfolio in the CEE area.

The closing of the deal is scheduled to take place by the end of December 2020.

The wind park, the 5th largest in Bulgaria, consists of two sites in the municipalities of Shabla and Kamen Bryag, each with 14 Vestas-V90 wind turbines, each with a capacity of 3 MW. The wind farm, which has been running since 2010, provides electricity equal to the consumption of about 30,000 households.

MET considers the development of renewable energy production in Central and Eastern Europe to be a vital part of its forward-looking business strategy, while at the same time encouraging the energy transition away from coal in Europe.

“This acquisition is a clear sign of the implementation of MET Group’s integrated strategy to develop a strong renewable portfolio in the CEE region. Our goal is to build a geographically diversified portfolio of power generation and infrastructure assets, with a substantial renewable asset portfolio. As for the diversification of energy sources, I am convinced that our focus on renewables is the right approach, and together with our core competence around natural gas as a transition fuel we can support energy developments towards carbon neutrality.“

Benjamin Lakatos, CEO of MET Group.