METLEN Energy & Metals [PLC] (“METLEN”) is pleased to announce the successful and timely completion of the financial closing of the disposal of large segment of its Chilean portfolio, which includes four projects with operational solar capacity of 588MW supported by constructed co-located Battery Energy Storage Systems (“BESS”) with capacity of 1,610 MWh.
This transaction with GAC RS Chile II SpA, a subsidiary of Glenfarne Group, LLC (“Glenfarne”), signed in April 2025, forms part of the global Asset Rotation Plan of METLEN. With the fulfilment of certain conditions, the total consideration of USD 865 million reflects the value creation opportunities emerging in the Chilean market along with our integral role towards the operation of the projects in this growing hybrid (PV and co-located BESS) asset class.
Mr. Evangelos Mytilineos, Chairman of METLEN Energy & Metals, with the opportunity of this transaction, pointed that co-located Solar and BESS project will pave the way forward in the company’s Global Asset Rotation Plan. With new projects developed on a hybrid basis but also through the hybridization of existing solar projects METLEN’s Energy Transition Platform is uniquely positioned to capture this emerging and growing opportunity.
On the event of the completion Nikos Papapetrou, Chief Executive Director Renewables & Energy Transition Platform said, “The completion of this landmark transaction showcases our strong execution capabilities in the LATAM region as well as METLEN’s unique ability to offer an integrated value proposition to the investor community under its Asset Rotation Plan. With Chile being a frontrunner for long-duration BESS, we are leveraging our knowledge across development, design, engineering and construction capabilities to create long-term value in the rapidly changing global renewable energy landscape”.
Glenfarne is a long-standing trusted partner of METLEN, and this transaction is a culmination of a growth journey, which we aspire to expand in further areas of activities where we share common interests.
Glenfarne Chief Executive Officer and Founder Brendan Duval said, “With this acquisition, Glenfarne is increasing the technology diversity of our infrastructure by adding battery capacity and increasing geographic and revenue diversification. METLEN has been a terrific partner throughout this transaction and our common focus on energy security and sustainability create opportunities for future cooperation in Glenfarne’s businesses across the Americas.”
The completion of the transaction supports deleveraging and further enhances METLEN’s financial strength as of end 2025, with a payment in excess of USD 800 million.
This outcome highlights the consistent execution of METLEN’s Asset Rotation Plan, enabling value crystallization and deployment of capital in high-growth opportunities across METLEN’S business segments.
