MET Group eyes first PPA in Europe

Switzerland-based power and gas firm MET Group will start negotiating its first power purchase agreement (PPA) in the coming months, company representatives told Argus on Wednesday on the sidelines of the E-World conference in Essen, Germany.

MET Group is planning to develop PPAs — including corporate ones — with solar photovoltaic (PV) as the preferred technology at the moment, as its wind assets are currently under contracts for difference (CfDs), MET Group's chief executive for renewables, Christian Hurlimann, said. And while most of its renewable plants are located in central and southeastern Europe, the firm is willing to focus its PPA activity in Spain, Italy, Germany and Romania, he added.

The firm is targeting 2GW of installed renewable capacity in Europe by 2026. The target was revised up in autumn last year from 1GW previously, and the company said it is currently on track to reach its target of 500MW of renewable capacity by the end of this year.

By Tatiana Serova