METLEN Sells 588 MW Solar Projects with Co-located 1,610 MWh BESS in Chile to Glenfarne Subsidiary
Type: Sale · Technology: Hybrid · Country: Chile · Capacity: 588 MW · Value: $865M · Announced: 2025-12-24
METLEN Energy & Metals divested four operational Chilean solar projects, totaling 588 MW and co-located with 1,610 MWh of battery energy storage, to a Glenfar.
Analysis
The $865 million sale of METLEN Energy & Metals' 588 MW solar portfolio, co-located with 1,610 MWh of battery energy storage in Chile, executes a substantial capital recycling event for the global industrial and energy company. Divesting four operational hybrid projects allows METLEN, a company focused on the forefront of the energy transition, to potentially reallocate capital towards new development or other energy transition initiatives within its Energy and Metallurgy sectors. For Glenfarne, acquiring these operational assets through its GAC RS Chile II project company provides immediate revenue generation and expands its energy transition infrastructure footprint in Chile. The integration of 1,610 MWh of battery energy storage alongside 588 MW of solar capacity enhances grid stability and optimizes power dispatch in the Chilean market, providing a solid foundation for Glenfarne's privately held infrastructure portfolio. METLEN Energy & Metals, a global industrial and energy company with two distinct business sectors, is actively managing its portfolio by divesting these operational Chilean assets. This move aligns with its stated aim of being at the forefront of the energy transition, potentially freeing up capital for new ventures within its Energy or Metallurgy divisions. Glenfarne Group, a privately held infrastructure developer and owner, clearly targets the energy transition sector, making these 588 MW solar and 1,610 MWh BESS projects a direct fit for its investment strategy across the asset lifecycle. While GAC RS Chile II, the specific buyer, lacks publicly disclosed operational scale, its parent Glenfarne Group actively invests in energy transition infrastructure. The announced date of December 24, 2025, for this $865 million transaction suggests a structured forward sale or a prolonged closing period for the four operational projects in Chile.
Key points
- The transaction is valued at $865 million USD.
- The deal includes 588 MW of operational solar capacity.
- The projects feature co-located battery energy storage totaling 1,610 MWh.
- METLEN Energy & Metals divested four operational hybrid projects located in Chile.
- The announced date for this sale is December 24, 2025.
Counterparties
- GAC RS Chile II (Buyer)
- Glenfarne (Parent Company)
- Metlen Energy & Metals (Seller)