METLEN Energy & Metals has announced a significant agreement with Schroders Greencoat, selling a 283-megawatt (MW) portfolio of UK solar projects. This portfolio includes seven sites across England and Wales, with 143 MW already operational or mechanically complete and 140 MW under construction, expected to achieve commercial operation by Q2 2026. These projects are projected to power the equivalent of 89,333 homes and benefit from long-term offtake agreements with Vodafone and Engie, ensuring stable revenues and cash flows. This transaction marks the second collaboration between METLEN and Schroders Greencoat, following a 2024 deal for a 110 MW UK solar portfolio, reinforcing their strategic partnership.
This sale is part of METLEN's global asset rotation strategy, aimed at crystallizing value from mature assets and redeploying capital into new, high-growth opportunities. The company focuses on expanding its presence in the energy transition sector, including solar, battery energy storage systems (BESS), flexible generation, and grid infrastructure. METLEN, which is listed on the London Stock Exchange and Athens Stock Exchange, reported strong financial results in 2024, with consolidated revenue of $5.68 billion and EBITDA of $1.08 billion, a 7% increase year-on-year, and a net profit of $615 million.
Beyond the UK, METLEN is actively expanding its footprint across Europe. In Greece, it partnered with Tsakos Group to develop a 251.9 MW solar-plus-storage project with a 375 MWh BESS, targeting commercial completion by early 2028. METLEN also views Italy as a core market, with a current pipeline of 3 GW in PV and battery projects, and has entered a joint venture with PPC, Greece's largest electricity provider, to develop 1,500 MW / 3,000 MWh of energy storage projects in Italy, Romania, and Bulgaria. The company's global renewable energy portfolio exceeds 11.9 GW across various development stages.
