METLEN Energy & Metals (previously known as MYTILINEOS), a Greek industrial conglomerate, secured €67.9 million (~$71.22 million) in financing to support the construction and development of a solar project portfolio with a total capacity of 71.5 MW in Italy. The financing for these projects was secured through Piraeus, a Greek bank.
The portfolio comprises five large-scale solar projects located in strategically important regions, including Emilia Romagna, Lazio, Campania, and Puglia, and is expected to reach completion by the end of this year.
Once operational, the solar projects are estimated to produce approximately 135 GWh of clean electricity per year, enough to meet the energy requirements of more than 55,000 households in Italy, according to the company.
This transaction is part of the company’s broader development strategy, under which it plans to deploy more than 1.6 to 1.7 GW of solar energy capacity and 300 MW of battery energy storage systems by 2027.
The company is active in various regions of Italy, including Sicily, Sardinia, Calabria, Campania, Veneto, Lazio, Emilia-Romagna, and Abruzzo. It has a portfolio of 180 projects totaling 3.59 GW in development over the next four years.
In January 2024, Mytilineos reached the financial close for its 588 MW non-recourse solar park portfolio in Chile. The financing was secured from lenders BNP Paribas, Intesa San Paolo, Sumitomo Mitsubishi Banking Corporation, Rabobank, and Santander Chile.
According to Mercom’s Annual and Q4 2024 Solar Funding and M&A report, large-scale project funding deals in 2024 totaled $53.8 billion in 259 deals, up from $44.5 billion raised in 229 deals in 2023.
Earlier this year, CCE Holding, an independent power producer, announced the closing of €24 million (~$24.64 million) in project financing with Commerzbank, a Frankfurt-based bank. The loan will be used to construct a 42 MW solar project located in the municipality of Montalto di Castro in the Italian region of Lazio.
