Metlen Sells 588 MW Solar-Storage Portfolio in Chile to Glenfarne for US$815M

Greek renewable developer Metlen Energy & Metals has agreed to sell its Chilean solar-plus-storage portfolio to Glenfarne Asset Company for US$815 million. This portfolio includes 588 MW of operational solar capacity and 1.6 GWh of battery energy storage systems (BESS), with the BESS construction expected to be completed by early 2026.

Once operational, the acquisition will increase Glenfarne’s assets to over 3.1 GW of power capacity and 1.6 GWh of BESS across Chile, Panama, Colombia, and Costa Rica. The plants are connected to Chile's national grid (SEN), with multiple interconnection points spread across the country.

The sold projects are likely the Tocopilla (227 MW), Tamarico (167 MW), Willka (109.2 MW), and Doña Antonia (86 MW) plants, all of which have been in operation since 2023 and 2024.

Brendan Duval, CEO of Glenfarne, noted that this deal significantly boosts their footprint in Chile’s renewable energy sector and strengthens their ongoing partnership with Metlen.

Chile’s growing challenge of curtailment makes co-locating BESS with solar projects crucial. In 2024, Chile experienced a 6 TWh curtailment in solar and wind generation — more than double the previous year’s figure.

Nevertheless, Chile and Brazil are expected to lead South America’s solar expansion, with Wood Mackenzie predicting 160 GW of new capacity by 2034, despite issues with curtailment and outdated transmission infrastructure.