Emeren Group, a global solar project developer, recently achieved a significant milestone by selling an 11.5 MWp PV project to Swiss-based energy company MET Group.
The project was sold at the Ready-to-Build (RTB) stage, and MET Group will take charge of completing the construction and operating the power plant. This marks the first project developed to the RTB stage by Emeren Germany, a Berlin-based subsidiary of Emeren Group, since its entry into the market in early 2021. The sale was facilitated by Capcora, a German consulting company, which acted as the exclusive sell-side M&A advisor to Emeren.
The new PV power plant is set to be located in Kentzlin, situated in the state of Mecklenburg-Western Pomerania, Germany. Commercial operations are expected to commence in the second half of 2024.
Yumin Liu, CEO of Emeren Group, said: “This project is an important milestone for our business in Germany and represents our commitment to developing renewable energy infrastructure in the region.”
“Starting in 2021, we managed to grow in a competitive German PV market, establishing partnerships and building a pipeline of medium and large-scale ground-mounted PV plants,” Bernd Wollwerth-Carl, Director of Emeren Germany, said.
Christian Hurlimann, Renewables CEO of MET Group, commented on how the Kentzlin project aligns with MET’s strategic vision to enter the highly competitive German renewables market and expand its renewables portfolio across Europe, especially in Western Europe. He credited Emeren Group’s expertise in renewable energy for their successful collaboration and anticipated working on more projects together in the future.
Emeren has an impressive pipeline of projects and IPP assets totaling over 3 GW and a storage pipeline of over 6 GWh.
MET Group, headquartered in Switzerland, reported sales revenue of to EUR 41.5 billion, with a total traded volume of 109 BCM of natural gas, including futures, and 67 TWh of electricity, including futures.