METLEN completes landmark renewables transaction in Chile

This transaction with GAC RS Chile II SpA, a subsidiary of Glenfarne Group, LLC, signed in April 2025, forms part of the global Asset Rotation Plan of METLEN. With the fulfilment of certain conditions, the total consideration of US$865 million reflects the value creation opportunities emerging in the Chilean market along with the company’s integral role in the operation of the projects in this growing hybrid (photovoltaics and co-located BESS) asset class.

Mr Evangelos Mytilineos, Chairman of METLEN, with the opportunity of this transaction, pointed that co-located solar and BESS projects will pave the way forward in the company’s global Asset Rotation Plan. Through new projects developed on a hybrid basis, but also through the hybridisation of existing solar projects, METLEN’s Energy Transition Platform is positioned to capture this emerging and growing opportunity.

Nikos Papapetrou, Chief Executive Director Renewables & Energy Transition Platform, commented, “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 the company aspires to expand in further areas of activities where common interests are shared.

Glenfarne CEO and Founder, Brendan Duval, concluded: “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 co-operation in Glenfarne’s businesses across the Americas.”

The completion of the transaction supports deleveraging and further enhances METLEN’s financial strength as of the end of 2025, with a payment in excess of US$800 million.

This outcome highlights the consistent execution of METLEN’s Asset Rotation Plan, enabling value crystallisation and deployment of capital in high-growth opportunities across METLEN’s business segments.

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