METLEN completes $865 million sale of 588 MW solar and 1,610 MWh BESS portfolio in Chile to Glenfarne

The acquisition portfolio comprises four solar facilities operating across diverse geographic locations within Chile, backed by fully developed or ongoing BESS projects. These include the recently commissioned parks Willka (109.2 MW), Doña Antonia (86 MW), Tocopilla (227 MW), and Tamarico (167 MW). The battery storage buildout, such as the 1,607 MWh Mesembria project, is scheduled for completion within a year, aligning with regulatory approvals and financing conditions required to finalize the transfer. The transaction’s headline monetary value stands at approximately USD 815 to 865 million, factoring in assumed debt, financing parameters, and customary regulatory conditions.

METLEN’s move is part of its global Asset Rotation Program aimed at monetizing renewable energy assets to unlock capital and reallocate resources toward high-growth opportunities. The company’s expertise in hybrid solar and storage development, engineering, and project structuring positioned it at the forefront of this complex transaction. CEO Evangelos Mytilineos highlighted the strategic importance of these hybrid assets in advancing METLEN’s renewables division, while Glenfarne’s founder Brendan Duval emphasized how the acquisition diversifies their energy infrastructure portfolio technologically and geographically.

The portfolio’s wide interconnection nodes across Chile’s Sistema Eléctrico Nacional (SEN) allow for operational optimization and revenue stream diversification. Glenfarne’s expansion in Chile reflects a broader commitment to investing in renewables and grid stability infrastructure within Latin America. This transaction signals increasing investor confidence and dynamic capital flows fueling Chile’s energy transition, particularly involving integrated solar and battery storage solutions that address system reliability and decarbonization goals.