The takeover of Comax by the Swiss group MET Groupformalized at the end of November 2024, marks a major step in the restructuring of the European energy sector. This event raises crucial issues for the French economy, consumers, and the global energy landscape.
A strategic buyout for MET Group
The MET Group, a Swiss player active in 15 countries, made its first investment in French energy infrastructure in 2024, through the acquisition of Comaxindependent electricity producer and energy storage specialist. The Comax company, founded in 2003, operates:
• 170 MW thermal capacities on a small scale.
• 29 MW storage capacities via batteries (BESS, or Battery Energy Storage Systems).
This acquisition is part of the MET Group’s strategy to strengthen its energy flexibility assets in Western Europe. It is also a response to the imperatives of the energy transition, where energy storage and network balancing solutions play an increasingly decisive role. This acquisition is part of the MET Group’s strategy to strengthen its energy flexibility assets in Western Europe. It is also a response to the imperatives of the energy transition, where energy storage and network balancing solutions play an increasingly decisive role.
Why is this takeover important for France?
By investing in Comax, the Swiss group MET Group is increasing its presence in France, already started in 2023 with the launch of its subsidiary MET France. The latter, led by Giovanni Caporale, targets VSEs, SMEs and large industrial accounts via energy supply and optimization services.
For France, this acquisition is doubly symbolic:
1. Energy independence in question: This operation reflects a trend where French companies, often pioneers in innovation, are acquired by foreign groups. This dependence could weaken national energy sovereignty in the long term.
2. Accelerated energy transition: Comax, now backed by MET Group capital, plans to increase its storage capacity to 250 MW. This will promote the integration of renewable energies, in particular to compensate for their intermittency.
Consequences for French users
French users could benefit from a more stable network thanks to the increased use of storage technologies such as BESS. However, questions remain:
• Will the costs of these investments be reflected in electricity bills?
• Will the takeover increase competition or on the contrary consolidate foreign monopolies?
The CEO of MET Group, Benjamin Locksmithstressed the importance of storage to compensate for the intermittency of renewable energies: “ When there is no wind or sun, consumers still need electricity. The first subject is security of supply. » However, he also noted that gas would remain an essential transition energy.
This acquisition is part of a European dynamic of remuneration for flexibility, where batteries play a strategic role:
• They store excess electricity produced to be resold during peaks in demand.
• They provide essential stability to networks, financially rewarded by regulators.
Criticisms and opportunities
Some criticisms come from French consumers and experts. According to analysts, this acquisition could reflect a loss of strategic influence for France in a sector as vital as energy. Furthermore, the role of European regulators will be decisive in avoiding excessive dependence on foreign capital.
However, this partnership also opens up opportunities:
• Job creation: Comax’s ongoing projects could boost the local job market.
• Strengthening innovation: The synergies between Comax and MET Group promise technological advancement in the field of storage.
With the rise of renewable energies, intermittency remains a challenge. This purchase could allow France to better meet European carbon neutrality objectives by 2050by integrating advanced storage and balancing solutions.
