Metlen Energy & Metals PLC signed an agreement to sell its Tamarico II hybrid project in Chile's Atacama Region. Copec S.A. subsidiary Copec Flux S.p.A. purchased the asset.
The project includes a 165 MW photovoltaic power station. It features a 725 MWh battery energy storage system. The storage capacity is expandable to 925 MWh.
The companies did not disclose financial terms for the transaction. This sale follows Metlen’s asset rotation strategy of developing and monetizing renewable projects.
The deal strengthens the long-term partnership between Metlen and Copec. Both entities are exploring future co-investments in Chile’s renewable energy sector.
Metlen shares traded slightly lower following the announcement.