Metlen is expanding its asset rotation strategy into Spain and Australia following the successful sale of its photovoltaic portfolio in Chile, signalling a growing focus on hybrid solar and storage projects in key international markets.
The company confirmed the plans during its 2025 results presentation, noting that similar divestments are expected in countries where it already maintains a strong operational footprint — including Australia, where it is active both through its own developments and partnerships with third parties.
The Chile transaction, completed in December 2025, involved four photovoltaic projects with a combined capacity of 588MW and 1,610MWh of battery energy storage systems (BESS), reaching a total value of $865 million — one of the largest asset rotation deals in the company’s renewable energy portfolio.
Building on this model, Metlen is now preparing to replicate similar moves in Australia and Spain, leveraging its existing project pipeline and market presence. In Australia, the strategy is expected to align with the country’s accelerating transition toward renewable energy and storage integration, where demand for grid stability and long-term energy security continues to grow.
The group views the hybrid model — combining solar generation with battery storage — as a critical solution to the structural limitations of solar energy. By integrating storage, projects can deliver improved margins, more stable and competitive power purchase agreements (PPAs), and greater overall profitability.
At the same time, the asset rotation strategy allows Metlen to recycle capital from mature projects into new developments, strengthening liquidity and enabling continued expansion in high-growth markets such as Australia.
Energy remains the group’s dominant segment, accounting for 79% of total revenue, with turnover rising 23% year-on-year to €5.633 billion. Overall group revenue reached €7.107 billion, up 25%.
The company’s renewable energy portfolio has now reached 11.9GW, with 1.3GW currently in operation, while total renewable energy production stood at 1.4TWh in 2025.
Metlen has also continued to expand its energy storage pipeline across Europe, including a joint venture with Public Power Corporation to develop up to 1,500MW/3,000MWh of BESS projects across Romania, Bulgaria and Italy.
In Greece, retail energy supplier Protergia increased its electricity market share to 21.4%, up from 18.2% in 2024, with a medium-term target of 30%.
While the company reported losses in its M-Power Projects division that weighed on EBITDA, management indicated that underlying performance remains strong, noting that results would have exceeded €1 billion without one-off costs. More than 90% of current projects are expected to be completed by 2026.
For Australia, Metlen’s planned expansion underscores the country’s growing strategic importance in the global renewable energy landscape, particularly as hybrid solar and storage projects become central to both commercial returns and long-term energy resilience.
Source: businessdaily.gr
