METLEN Energy & Metals (previously known as MYTILINEOS), a Greek industrial conglomerate, announced the completion of 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 transaction with GAC RS Chile II, a subsidiary of Glenfarne, signed in April 2025, is a part of METLEN’s global Asset Rotation Plan. With the fulfilment of certain conditions, the deal amounts to a total consideration of $865 million.
Glenfarne Chief Executive Officer and Founder Brendan Duval said, “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 creates opportunities for future cooperation in Glenfarne’s businesses across the Americas.”
The company had previously entered into an agreement in October 2025 under which HRE will acquire a diversified portfolio of solar projects in South Korea totaling 42 MW. METLEN built phase 1 of the renewable energy portfolio.
Additionally, in January 2025, METLEN 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 portfolio comprises five large-scale solar projects located in strategically important regions, including Emilia Romagna, Lazio, Campania, and Puglia.
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 9M and Q3 2025 Solar Funding and M&A report.
In December 2025, Orrön Energy, an independent renewable energy company, entered into an agreement with Gülermak Renewables Deutschland Holding, a subsidiary of Gülermak Renewables, to sell 234 MW of solar projects in Germany for a total consideration of up to MEUR 14 (~$16 million). The portfolio consists of three solar projects.
