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Bulgaria: Wind farm near Kavarna acquired by MET Group

30.Oct 2020.

This acquisition is part of MET’s growth strategy to develop a significant renewable portfolio in the CEE region.

Swiss-based MET Group agreed with Enel Green Power, a renewable energy arm of Italian Enel, the acquisition of 42 MW wind farm near Kavarna in north eastern Bulgaria.

CEO of MET Group Benjamin Lakatos said that the group’s goal is to build a geographically diversified portfolio of electricity generation and infrastructure assets, with a substantial renewable asset portfolio. As for the diversification of energy sources, he believes that the focus on renewables is the right approach, and together with the group’s core competence around natural gas as a transition fuel, MET Group can support energy developments towards carbon neutrality.

The fifth largest wind farm in Bulgaria has 14 Vestas-V90 wind turbines with 3 MW capacity each on two locations in the municipalities of Shabla and Kamen Bryag. The wind farm is operational since 2010. The acquisition should be completed by the end of the year.

MET considers the growth in the renewable electricity generation in central and eastern Europe as a core part of its business strategy going forward, whilst also supporting the energy transition away from coal in Europe.