METLEN & Copec sign Chile project agreement
Summary by AI BETAClose X
METLEN and Copec sign agreement for the sale of the Tamarico II hybrid project in Chile
Athens, Greece / London, United Kingdom - 10 September 2026 - 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 project in Chile's Atacama Region.
The project combines a photovoltaic power station of an installed capacity of 165 MW with a 725 MWh battery energy storage system (BESS), extendable to 925MWh, drawing on METLEN's specialist expertise in developing integrated combined energy solutions that enhance power-system flexibility and accelerate the integration of renewable energy sources.
The sale of Tamarico II reaffirms METLEN's ability to develop, build and operate its own renewable energy projects, and ultimately monetise their value through its Asset Rotation model.
"Tamarico II is a prime example of how METLEN translates its international expertise and long-standing experience in Chile into mature, competitive energy infrastructure that delivers tangible value to the local market. Chile is a strategically important market for METLEN, where we have maintained a presence for many years and developed significant expertise, contributing to the development of the country's strong renewable energy potential. The agreement with Copec Flux further demonstrates our ability to build strong, long-term partnerships and highlights Chile as an important example of how renewable energy generation and energy storage can be combined to support the energy transition and enhance the resilience of the energy system," said Nikos Papapetrou, Chief Executive Director of M RESET.
"This represents a further step in Copec's strategy to consolidate its own renewable generation and energy storage portfolio, aimed at supporting and expanding the range of energy solutions we offer our customers, while also contributing to the greater integration of clean energy into the national electricity system," said Arturo Natho, Chief Executive Officer of Copec.
The agreement further strengthens METLEN's partnership with the COPEC Group, one of Latin America's leading energy groups, a partnership that started three years ago. It also lays the groundwork for the two companies to expand their collaboration further through new renewable energy and storage investments in Chile.
Through M RESET, part of its Energy Sector, METLEN has built strong international expertise in delivering complex renewable energy and storage projects. The Company's growing specialisation in hybrid projects reinforces its position as a leading provider of integrated energy solutions in international markets.
Notes to editors:
Photographic material for METLEN and its activities can be found here.
For further information about METLEN please contact:
● Ms Antigoni Fakou: METLEN Press Office (Athens), Tel. +30210-6877346 | Fax +30210-6877400 | E-mail: Antigoni.fakou@metlen.com
● Mr Thanasis Gavos: METLEN Press Office (London), Τel. +447955289649 | E-mail: thanasis.gavos@metlen.com
About METLEN:
METLEN Energy & Metals Plc (METLEN) is an international industrial and energy Company, holding a leading position in the metals and energy sectors, focused on sustainable growth and the circular economy. METLEN has established itself as a benchmark in competitive "green" metallurgy at both European and global level, operating the only fully integrated bauxite, alumina and primary aluminium production unit in the European Union, with privately owned port facilities. In the Energy Sector, METLEN provides integrated energy solutions through the implementation of thermal and renewable power generation projects, electricity distribution and trading, as well as investments in network infrastructure, battery storage and other green technologies. METLEN operates across five continents and in more than 40 countries, employing over 8,500 people worldwide and implementing a fully synergistic model across its Sectors.
METLEN Financial Highlights
METLEN has its primary listing on the London Stock Exchange and secondary listing on the Athens Stock Exchange and is a constituent of the FTSE 100 Index. In 2025, METLEN reported consolidated revenue of €7.11 billion and EBITDA of €753 million with net profit of €314 million. Adjusted net debt stood at €2.10 billion, with a Net Debt/EBITDA ratio of 3.1x, reflecting strong financial resilience. METLEN is rated by leading international sustainability and ESG agencies, holding the unique Greek position in the Dow Jones Best-in-Class Emerging Market Index, and distinguished across MSCI, Sustainalytics, ISS Quality score, ISS Corporate Score, S&P Global ESG, LSEG, CDP, FTSE Russell, ESG Book, EcoVadis, Bloomberg and IdealRatings.
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Copec S.A
Copec S.A. is one of Chile's leading energy and mobility companies, with more than 90 years of experience supporting the country's development. Through a nationwide network of more than 700 service stations and a growing portfolio of businesses in renewable energy, electromobility, energy commercialization and convenience, Copec provides energy and mobility solutions to individuals, businesses and industries across Chile. As part of its transformation, the company is expanding its participation in renewable generation and energy storage, strengthening its position in the energies of today and tomorrow. Following the completion of the Tamarico II transaction, Copec's solar generation portfolio will reach approximately 550 MWp of owned capacity, including large-scale solar parks and distributed generation assets.
Copec Flux S.P.A
Copec Flux S.P.A is Copec's subsidiary focused on the development, operation and management of renewable energy assets and distributed energy solutions. The company develops solar generation and energy storage projects and manages Copec's growing renewable generation portfolio, supporting the Group's strategy to provide increasingly integrated, competitive and sustainable energy solutions.
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