METLEN Agrees Sale of 165 MW Tamarico II Solar and Battery Storage Project in Chile to Copec Flux, Advancing Asset Rotation Strategy

METLEN Agrees Sale of 165 MW Tamarico II Solar and Battery Storage Project in Chile to Copec Flux, Advancing Asset Rotation Strategy

(IN BRIEF) METLEN has signed an agreement with Copec S.A., through subsidiary Copec Flux S.p.A., to sell the Tamarico II hybrid renewable energy project in Chile’s Atacama Region, further advancing its Asset Rotation strategy and strengthening a partnership with the COPEC Group that began three years ago. Tamarico II combines a 165 MW photovoltaic plant with a 725 MWh battery energy storage system that can be expanded to 925 MWh, allowing renewable electricity generation to be paired with flexible energy storage. METLEN said the project demonstrates its ability to develop mature, competitive renewable infrastructure and monetise value through strategic asset sales. Nikos Papapetrou, Chief Executive Director of M RESET, highlighted Chile’s importance to METLEN and the role of combined solar and storage projects in supporting energy-system resilience, while Copec CEO Arturo Natho said the acquisition advances the company’s strategy to expand its renewable generation and storage portfolio. The agreement also lays the foundation for further joint investments by METLEN and Copec in renewable energy and battery storage projects in Chile.

(PRESS RELEASE) ATHENS/LONDON, 10-Sep-2026 — /EuropaWire/ — METLEN has signed an agreement with Copec S.A., through its subsidiary Copec Flux S.p.A., for the sale of the Tamarico II hybrid renewable energy project in Chile’s Atacama Region.

The project combines a 165 MW photovoltaic power plant with a 725 MWh battery energy storage system (BESS) that can be expanded to 925 MWh, creating an integrated generation and storage asset designed to strengthen power-system flexibility and support greater integration of renewable energy.

The transaction also demonstrates METLEN’s Asset Rotation model, under which the company develops, builds and operates renewable energy assets before monetising their value through strategic disposals.

Tamarico II combines utility-scale solar generation and battery storage

Tamarico II has been developed as a hybrid project integrating photovoltaic generation with large-scale battery storage.

Its 165 MW solar power plant will be paired with a 725 MWh BESS, with potential expansion to 925 MWh.

By combining renewable electricity production with storage capacity, the project is intended to help balance supply and demand, improve the flexibility of the electricity system and enable more effective integration of variable renewable generation.

METLEN said the project draws on its growing expertise in delivering integrated energy solutions across international markets.

Transaction demonstrates METLEN’s Asset Rotation model

The sale reinforces METLEN’s strategy of developing renewable energy projects through their lifecycle and subsequently crystallising value through its Asset Rotation approach.

Under this model, METLEN originates and develops projects, advances construction and operations capabilities and ultimately monetises mature assets through transactions with long-term owners.

The company sees this structure as an important part of its international renewable energy growth strategy, enabling capital to be redeployed into future projects while retaining development and delivery capabilities across multiple markets.

Chile remains strategically important for METLEN

Nikos Papapetrou, Chief Executive Director of M RESET, said Tamarico II demonstrates how METLEN can combine its international energy expertise with its long-established presence in Chile to develop mature and competitive infrastructure.

He described Chile as a strategically important market where METLEN has built significant experience over many years and contributed to the development of the country’s renewable energy potential.

Papapetrou said the project illustrates how renewable generation and energy storage can work together to strengthen energy-system resilience and support the wider energy transition.

Copec expands renewable generation and storage portfolio

Arturo Natho, Chief Executive Officer of Copec, said the Tamarico II transaction represents another step in the company’s strategy to strengthen its own renewable generation and energy storage portfolio.

He said the project will help Copec expand the energy solutions it offers customers while contributing to greater integration of clean electricity into Chile’s national power system.

The acquisition gives Copec additional exposure to hybrid renewable infrastructure combining solar generation with large-scale battery storage.

Agreement deepens three-year METLEN-Copec relationship

The transaction further strengthens the partnership between METLEN and the COPEC Group, one of Latin America’s major energy groups.

The companies began working together around three years ago and now intend to use the Tamarico II agreement as a foundation for further cooperation.

METLEN said the transaction creates opportunities for the two groups to expand their relationship through additional renewable energy and energy storage investments in Chile.

Battery storage supports system flexibility

Large-scale battery storage is becoming increasingly important in electricity markets with growing volumes of renewable generation.

At Tamarico II, the BESS will enable energy generated by the photovoltaic facility to be stored and dispatched when needed, helping mitigate the variability associated with solar generation.

The project’s expandable storage capacity also provides flexibility to increase its energy-shifting capability as market and grid requirements evolve.

METLEN sees this combination of solar and storage as an increasingly important model for future renewable energy projects.

M RESET builds international hybrid-energy expertise

The project has been developed through M RESET, part of METLEN’s Energy Sector.

M RESET has developed specialist capabilities in complex renewable energy and storage projects across international markets, with a particular focus on integrated hybrid solutions.

METLEN said its growing experience in combining renewable generation with storage strengthens its position as a provider of integrated energy infrastructure capable of addressing both decarbonisation and power-system reliability requirements.

Transaction supports future investment pipeline

The Tamarico II sale also provides METLEN with another example of how mature renewable projects can generate value while supporting future project development.

By recycling capital through asset sales, the company can continue investing in new renewable and storage opportunities while maintaining a broad international development pipeline.

The transaction therefore supports both METLEN’s near-term portfolio strategy and its longer-term expansion in markets where renewable energy growth and storage demand are increasing.

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SOURCE: Metlen Εnergy & Metals