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Sunday, May 26, 2024

GA_P advises MET Renewables on 50 MWp PV acquisition

Gómez-Acebo & Pombo has advised MET Group and its subsidiary MET Renewables on the acquisition of a 50MWp photovoltaic farm located in Cádiz.

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MET Group acquired a 100 percent stake in a Spanish 50 MWp solar project at ready-to-build status. The Puerto Real 3 project is placed in the Andalucía region of Spain, known for its high irradiation levels. The project should start commercial operations in the summer of 2023.

Within MET Group, a dedicated Green Assets Division provides all the necessary expertise and support to the renewable expansion strategy, with an ambitious target of reaching a 1GW renewables portfolio by 2026. The integrated energy company aims for a 500 MW portfolio to be in operation by 2023, and an additional 500 MW by 2026. MET is targeting further growth of wind and solar installations across the European Union, seeking to play an active role in the energy transition.

Christian Hürlimann, Renewables CEO of MET Group said: “Our goal is to build a geographically diversified 1 GW pure-play renewables portfolio in Europe, and with these transactions we have now also entered the Italian and Spanish renewables markets. MET’s expansion strategy focuses on European markets where we already have a local presence, building on our existing operations across the Group. MET’s sales subsidiaries already offer green power and services to their customers, and the percentage of partners adopting renewable energy products is constantly increasing. MET Group is dedicated to support a sustainable energy future for Europe.”

MET Group is an integrated European energy company, headquartered in Switzerland, with activities and assets in natural gas and power markets. MET is present in 13 countries through subsidiaries, 26 national gas markets and 22 international trading hubs. In 2021, MET Group’s consolidated sales revenue amounted to EUR 18,1 billion, the volume of traded natural gas was 55 BCM.

GA-P´s team was formed by Corporate partners David Riopérez and Pablo Fernández Cortijo, along with associate Saray López and trainee Marta del Toro, together with Public and Regulatory associates Ernesto Vidal, Roberto Bustamante, Paula García Cuevas and Javier de la Torre, Tax of counsel Remedios García and associates Carla Fandiño and John Galilea, Banking associate Joaquín Beltrán and paralegal Fernando Artiach, and Competition partner Miguel Troncoso and associate Laura Lence.

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