Metlen Energy Metals (LSE:MTLN) has signed an agreement to sell the Tamarico II hybrid energy project in Chile's Atacama Region to Copec Flux S.p.A., a subsidiary of Chilean energy and mobility group Copec S.A.
Tamarico II combines a 165 MW photovoltaic power station with a 725 MWh battery energy storage system, extendable to 925 MWh, designed to support grid flexibility and renewable integration.
The sale sits within Metlen's Asset Rotation model, where the company develops, builds and operates renewable projects before monetising them.
Chile is "a strategically important market for METLEN", said Nikos Papapetrou, chief executive director of M RESET, the Energy Sector unit that delivered the project, adding that the deal shows the company's ability to build "strong, long-term partnerships".
Copec chief executive Arturo Natho said the acquisition supports the group's strategy to expand its renewable generation and storage portfolio and broaden the energy solutions offered to customers.
Once Tamarico II completes, Copec's owned solar generation portfolio will reach approximately 550 MWp, spanning large-scale solar parks and distributed generation assets.
The transaction extends a partnership between Metlen and Copec that began three years ago, and the two companies said it lays groundwork for further joint renewable energy and storage investments in Chile.
News Intelligence what this means for the company
Metlen Energy Metals has sold its Tamarico II hybrid solar-storage project (165 MW solar + 725 MWh battery storage) in Chile's Atacama Region to Copec Flux, a subsidiary of Chilean energy group Copec, under Metlen's Asset Rotation model where it develops and then monetises renewable assets. The deal extends a three-year partnership and signals Metlen's ability to execute its build-and-sell strategy in a strategically important market, though the sale price and financial impact remain undisclosed.
The transaction validates Metlen's Asset Rotation model and demonstrates market execution in Chile, but without disclosed deal terms or timing to completion, the near-term financial contribution to the company remains unclear. The sale aligns with Metlen's stated strategy of developing and monetising renewable projects rather than holding them long-term.
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