METLEN Energy & Metals (previously known as MYTILINEOS), a global industrial and energy company, and Korean energy investment and development company HRE, entered into an agreement under which HRE will acquire a diversified portfolio of solar projects in South Korea totaling 42 MW. Phase 1 of the renewable energy portfolio was built by METLEN.
The portfolio comprises five operational and under-development solar projects that, together, will produce over 60 GWh of clean electricity each year, sufficient to power more than 12,000 Korean households. The operational assets are backed by long-term power purchase agreements (PPAs) with major Korean conglomerates, enhancing their strategic and commercial appeal.
In addition to this transaction, METLEN and HRE are further exploring a strategic partnership for the former’s project pipeline in South Korea, including utility-scale solar, battery energy storage systems, and green-powered data centers.
METLEN entered the South Korean market in 2022 by constructing a solar project in Yangpyeong-gun.
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 successful 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.”
Earlier this Month, METLEN and the Karatzis Group of Companies entered into a new strategic partnership to develop, construct, operate, and manage a 330 MW/790 MWh battery energy storage project in Thessaly, Greece.
In January 2025, METLEN secured €67.9 million (~$71.22 million) in financing to support the construction and development of a solar project portfolio totaling 71.5 MW in Italy. The portfolio comprises five large-scale solar projects located in strategically important regions, including Emilia-Romagna, Lazio, Campania, and Puglia. It is expected to be completed by the end of this year.
In the first nine months of 2025, approximately 29 GW of solar projects were acquired compared to 28.3 GW in 9M 2024, according to Mercom’s recently released 9M and Q3 2025 Solar Funding and M&A report.
