METLEN and Korean energy investment and development company, HRE Co. Ltd, have signed a landmark agreement under which HRE will acquire a diversified portfolio of solar projects in South Korea with a total installed capacity of 42 MW, the phase 1 of the renewable energy portfolio built by METLEN.
The transaction includes five operational and under-development solar projects, which combined will generate more than 60 GWh of clean electricity annually – enough to power over 12 000 Korean households. The operational projects have secured long-term PPA contracts with leading Korean conglomerates, reinforcing their strategic and commercial value.
This agreement marks another milestone in METLEN’s Global Asset Rotation Plan, underlining the company’s ability to execute highly complex transactions. The transaction also contributes to the further strengthening of overall liquidity, supporting its strategic flexibility as it continues to scale its international operations.
Beyond this transaction, METLEN and HRE are exploring a broader strategic partnership for METLEN’s South Korean project pipeline, which includes large scale solar, battery energy storage systems (BESS), and green-powered data centres.
Sunwoong Kim, Representative Executive Officer of HRE Co. Ltd, commented: “We are proud to partner with METLEN on this landmark transaction, which reflects our shared commitment to accelerating South Korea’s clean energy transition. The acquisition of this 42 MW portfolio strengthens HRE’s position as a leading renewable energy developer and marks the beginning of a long-term collaboration with METLEN. Together, we aim to expand into large scale solar and battery storage projects that will shape the region’s sustainable energy future.”
South Korea remains a strategic focus for METLEN’s M Renewables segment, one of the few European companies to have established a strong presence in the East Asian renewables sector. Since entering the Korean market in 2022 with the construction of its first solar photovoltaics (PV) project in Yangpyung-gun, METLEN has expanded its footprint through a pipeline of large scale solar PVs.
Nikos Papapetrou, Executive Director of METLEN’s M Renewables segment, stated: “This agreement with HRE underscores METLEN’s long-term commitment to the South Korean market and the strength of our renewables platform in East Asia. It reflects the trust we have built through the development of high-quality solar projects and marks another step in expanding our presence in one of the most dynamic energy markets in the region.”
The company also sees data centres powered by renewables as a critical part of its growth strategy in South Korea, leveraging the country’s strong digital infrastructure ambitions.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's autumn 2025 issue
Explore the latest insights into the renewable energy sector in the autumn issue of Energy Global, out now! This edition features a regional report on the Asia Pacific from Aurora Energy Research, mapping out why the wholesale price cap is detrimental to the energy transition in India. The issue then delves into articles covering crucial topics such as digitalisation in renewables, inspection & maintenance, developments in floating offshore wind, coatings, solar optimisation and more. Contributors include Flotation Energy, DNV, Sarens, Neuman & Esser, Teknos, and more, so this issue is not one to miss!