Metlen Seeks Sale of Australian Solar Portfolio with Battery Storage Addition
Metlen aims to finalize the sale of its Australian solar assets in 2026, potentially enhancing profitability through added battery storage. This strategy aligns with industry trends favoring solar-battery hybrid projects to address earnings challenges.
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Metlen, a Greek energy firm, plans to sell its Australian solar portfolio, which includes 527 MW of operating assets and additional projects totaling 528 MW. The sale, advised by Macquarie since mid-2024, is projected to conclude in 2026, with the potential addition of battery storage to improve financial returns.
The company reported a €36.2 million gain from Power Purchase Agreement contracts in Australia over the last year. Metlen's CEO indicated that incorporating battery storage is crucial for enhancing profitability and mitigating challenges associated with low midday electricity prices. The current market is shifting toward solar-battery hybrids as the preferred model for new projects.
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