Servizi
METLEN and Glenfarne seal landmark deal for Solar and Battery Energy Storage Systems in Chile with total installed capacity of 588 MW and energy storage capacity of 1,610 MWh
The projects benefit from wide geographic diversification and multiple interconnection nodes across Chile's (SEN), allowing for portfolio optimization.
The headline consideration of the acquisition is agreed at USD 815Mio, including the assumption of debt, and based on certain financing assumptions and other adjustments. The closing of the transaction is planned to occur when the BESS becomes operational, regulatory approvals are obtained and certain financing and other customary conditions for this type of transactions are fulfilled.
This landmark agreement forms part of METLEN's global Asset Rotation Program for renewable energy projects and showcases the unparalleled capabilities of METLEN to implement highly complex transactions globally.
As BESS become an integral part of energy markets, METLEN has been in the forefront of implementing energy storage projects – standalone and on a hybrid basis. Through a unique set of capabilities across development, engineering, structuring and construction, we are able to create substantial value across our global energy business.
Commenting on this sizeable transaction, the CEO of METLEN Mr. Evangelos Mytilineos, said: "
Brendan Duval , Founder and CEO of Glenfarne, said, " "
Astris Finance acted as Financial Advisor, and Milbank LLP, Larrain y Asociados Ltda., acted as legal advisors to METLEN for this transaction.
METLEN Energy & Metals is a multinational industrial and energy company, a leader in the metallurgy and energy industries, focused on sustainability and circular economy. The Company is listed on the Athens Stock Exchange, with a consolidated turnover and EBITDA of €5.68 billion and €1.08 billion, respectively. METLEN is a reference point for competitive green metallurgy at the European and global level, whilst operating the only vertically integrated bauxite, alumina and primary aluminum production unit in the European Union (E.U.) with privately owned port facilities. In the energy sector, METLEN offers comprehensive solutions, covering thermal and renewable energy projects, electricity distribution and trading, alongside investments in grid infrastructure, battery storage, and other green technologies. The Company is active in the markets of all five continents, in 40 countries, adopting a full-scale synergetic model between the Metallurgy and Energy Sectors, while undertaking end-to-end development of major energy infrastructure projects.
Glenfarne Group is a privately held developer, owner, and operator of energy infrastructure assets based in New York, New York and Houston, Texas , with offices in Anchorage, Alaska ; Panama City, Panama ; Santiago, Chile ; Bogota, Colombia ; Barcelona, Spain ; and Seoul, South Korea . Through its subsidiaries, Glenfarne owns and operates over 50 energy infrastructure assets through three core businesses: Global LNG Solutions, Grid Stability, and Renewables. The company's seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America . For more information, please visit glenfarnegroup.com.
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