METLEN Energy & Metals SA has entered into a significant deal with Glenfarne Asset Company to sell a major portfolio of renewable energy assets in Chile. The portfolio includes 588 MW of operational solar projects and 1,610 MWh of battery energy storage systems (BESS) currently under construction.

The sale, valued at approximately $815 million, marks a key move in METLEN's ongoing strategy of asset rotation. The solar and energy storage projects are strategically located within the National Electric System of Chile, ensuring integration with the country's growing renewable energy market.

The Glenfarne Asset Company subsidiary acquiring the assets plans to build on the strong foundation of these projects, which are expected to play a pivotal role in Chile's renewable energy goals. This move comes as part of Glenfarne's push to expand its clean energy footprint in Latin America.

For METLEN, the deal allows the company to focus its resources on new energy investments and expand its global portfolio of clean energy projects. The transaction follows METLEN's strategy of rotating capital out of mature projects while reinvesting in emerging opportunities.

The projects are expected to be completed within the next 12 months, with a significant portion of the energy generated earmarked for the Chile market.

Source: solarquarter.com