Greek developer shops Australian solar and battery portfolio

Greece-based resources and renewables company Mytilineos, now known as Metelen Energy and Metals, is looking to sell its Australian renewable energy generation and storage assets, including six operational solar farms totalling 284 MW.

July 15, 2024 David Carroll

Image: Metlen Energy and Metals

Greek industrial conglomerate Metelen Energy and Metals has commenced the auction of its Australian renewable energy portfolio that comprises eight solar farms in operation or under construction and a 2.9 GW development pipeline including battery energy storage and hydrogen projects.

Metlen has reportedly appointed financial services group Macquarie to oversee the sale of its Australian renewables portfolio that incudes projects in New South Wales (NSW), Queensland and Victoria.

The portfolio includes six operational solar farms: the 75 MW Wyalong solar farm in New South Wales (NSW); the 19 MW Wagga, and 30 MW Wagga North, Corowa and Junee solar farms in the state’s south; and the 100 MW Moura solar farm in Queensland.

Also in Queensland is the 40 MW Kingaroy solar farm that is now undergoing commissioning, and the 120 MW Munna Creek solar farm that is being constructed and is expected to be completed by late 2024.

The company has said that most of the projects are supported by long-term offtake agreements, including deals with Queensland government-owned generator CS Energy, supermarket major Coles, and Australian communications giant Telstra.

Development projects in Metlen’s 2.8 GW pipeline include the Mavis solar and battery energy storage project being progressed in NSW’s Central-West Orana Renewable Energy Zone. That is to comprise a 250 MW solar farm and a 100 MW / 200 MWh battery energy storage system with final investment decision targeted in early 2025.

In a flier circulated to prospective buyers, Metlen said that it is also open to the sale of its hydrogen assets and its New Zealand solar development projects.

Metlen owns a 15% stake in the Clara Energy’s Rosedale green hydrogen project which aims to deliver an 800 MW solar farm next to a 560 MW hydrogen production plant sited midway between Melbourne and Sydney.

According to the flier shared with prospective buyers, the sale will be conducted in two stages with non-binding offers expected within weeks. Shortlisted bidders will then be invited to submit binding offers, with signing in late 2024.

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