• Mon. Jun 14th, 2021

Enel Green Power sells off its 42MW wind farm in Bulgaria to MET Group

ByAdam

Jan 29, 2021

Enel Green Power decided to sell its wind farm project in Bulgaria to MET Group. The project comprises a 42MW wind farm that hosts the Vestas V90 3MW turbines, which the company went to great lengths to develop to serve the Bulgarian residents through the grids. The Swiss energy company called MET Group procured the currently operational project at a price that the two parties agreed not to disclose to the public. This agreement forms MET Group’s strategies of expanding its operations, asset-ownership, and renewable energy resources to serve the more significant part of the Central and Eastern Europe (CEE) region. The company foresaw the demand that would transcend from the ongoing quest to transition to renewable energy, which does not harm the environment, and placed its feet on this investment.

The program is situated in Bulgaria’s north-eastern parts within Shabla and Kavarna’s municipal and is currently a fixed asset of the MET Group. The project consists of 14 Vestas V90 3MW turbines and has been serving the region for the last ten years. MET Group’s acquisition demonstrates the company’s desire to control this asset and the profits accruing therein. The project might create more benefits, especially when all the countries are shaping their energy sectors to minimize greenhouse gas emissions that have contributed to the growing global warming problems. The two companies made an agreement that actualized this week when the Bulgarian and Serbian rivals agreed to advance their operations to compete with this energy giant. 

The MET Group executives stated that the renewable energy project forms a firm foundation over which they can start expanding their operations in the Central and Eastern parts of Europe. The executives added that the project is the core strategy of their participation in the transition to clean energy and minimize energy developers’ emissions. The company is promoting and motivating its competitors to channel their resources towards the development of clean energy projects.

This utility that MET Group has secured sits at a strategic geographic position that can allow it to partner with the governments of this region to develop similar projects that can reduce their burden of starting afresh on the development of renewable energy sources. Finally, the company hopes to attract more competition from local energy developers who will feel that this project is taking over their market. Nevertheless, the company is ready to prove its worth in providing renewable energy to the residents.

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