METLEN Energy & Metals (formerly MYTILINEOS), a Greek industrial conglomerate, has secured €16.6 million (~$19.9 million) in project financing to support the development of the 20.75 MW Bicinicco solar project in the Friuli Venezia Giulia region of northern Italy.
The financing was secured through Piraeus Bank. BonelliErede served as METLEN’s legal advisor, while Dentons acted as the lender’s legal counsel. Vector Renewables served as the technical advisor, Marsh as the insurance advisor, KPMG as the model auditor, and MBS Consulting as the market advisor on the transaction.
The project is scheduled for completion in 2026 and is expected to generate approximately 30 GWh of clean electricity annually once operational.
This transaction marks a key step in METLEN’s expansion in Italy. It supports the company’s strategy to roll out more than 1.5 GW of solar capacity and around 0.3 GW of battery energy storage systems.
In December 2025, the company completed the sale of its portfolio of four operational solar projects in Chile, totaling 588 MW, supported by co-located battery energy storage systems with a capacity of 1,610 MWh. The company also entered into an agreement under which Korean energy investment and development company HRE will acquire a diversified portfolio of solar projects in South Korea totaling 42 MW.
METLEN Energy & Metals also secured €67.9 million (~$71.22 million) in financing in January 2025 to support the construction and development of a solar project portfolio totaling 71.5 MW in Italy. The financing was secured through Piraeus.
According to Mercom’s Annual and Q4 2025 Solar Funding and M&A report, large-scale project funding increased 37% in 2025 compared to 2024.
Earlier, in January 2026, Low Carbon, a renewable energy project developer, raised more than £500 million (~$684 million) in senior and Holdco financing, in partnership with 10 major international banks. The platform’s financing structure enables the inclusion of new projects as the company expands its renewable energy portfolio across Europe.
