METLEN Strikes Landmark Deal with Glenfarne for Solar and Battery Storage Systems
Deal News | Apr 24, 2025 | PR Newswire Cision METLEN Energy & Metals
METLEN Energy & Metals S.A., a leading industrial and energy multinational, has signed a significant agreement with Glenfarne Asset Company, LLC for the acquisition of a portfolio of solar and battery energy storage systems (BESS) in Chile. The projects under this deal have an installed solar capacity of 588 MW and a battery storage capacity of 1,610 MWh. The partnership aims to enhance renewable energy capabilities in Chile, focusing on sustainability and energy transition. The transaction is valued at USD 815 million, contingent on certain financing assumptions and regulatory approvals. METLEN's CEO, Evangelos Mytilineos, emphasized the strategic nature of this transaction, marking a milestone in METLEN's renewable energy growth. Glenfarne's CEO, Brendan Duval, noted this partnership aligns with their mission to invest in sustainable energy infrastructures. Financial and legal advisory for the deal involved Astris Finance and Milbank LLP, respectively.
Sectors
- Renewable Energy
- Infrastructure
- Corporate Finance
Geography
- Chile – The primary geographical focus of the article, where the solar and battery energy projects are located.
- Greece – Location of METLEN Energy & Metals S.A., the seller in this transaction.
- United States – Glenfarne Asset Company, LLC, the acquiring company, is based in the United States.
Industry
- Renewable Energy – The article revolves around solar energy and battery storage systems, key components of the renewable energy sector.
- Infrastructure – Involvement of large-scale infrastructure projects like solar and battery energy storage solutions in Chile.
- Corporate Finance – The financial intricacies of the USD 815 million acquisition and advisory roles underscore a corporate finance aspect.
Financials
- 815 million USD – Transaction value for the acquisition of Chilean solar and battery energy storage systems including debt assumptions.
- 5.68 billion Euros – Consolidated revenue of METLEN.
- 1.08 billion Euros – EBITDA of METLEN.
- 588 MW – Installed capacity of solar projects.
- 1,610 MWh – Capacity of battery energy storage systems.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| METLEN Energy & Metals S.A. | Target | Company | A multinational company focused on industrial and energy sectors, known for sustainability and circular economy. |
| Glenfarne Asset Company, LLC | Bidding Company | Company | A private owner and operator of energy infrastructure with a focus on renewable energy solutions. |
| Evangelos Mytilineos | CEO of METLEN | Person | CEO of METLEN, guiding the company's strategic operations. |
| Brendan Duval | CEO of Glenfarne | Person | Founder and CEO of Glenfarne, overseeing company investments in energy. |
| Astris Finance | Financial Advisor | Company | Provided financial consultancy for the transaction. |
| Milbank LLP | Legal Advisor | Company | Provided legal advice to METLEN for the deal. |
| Larrain y Asociados Ltda. | Legal Advisor | Company | Chilean law firm advising METLEN legally for this transaction. |