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Metlen Energy & Metals PLC on Thursday said it signed an agreement with HRE Co Ltd to sell its portfolio of solar projects in South Korea. The Athens-based aluminium producer and electricity generator said the transaction includes five operational and under-development solar projects with a total installed capacity of 42 megawatts. The projects combined will generate more than 60 gigawatt-hours of clean electricity annually, which is enough to power over 12,000 Korean households, said Metlen. Metlen provided no financial details for the deal with the Korean energy investment development company. Metlen said the agreement ‘marks another milestone’ in Metlen’s global asset rotation plan. Metlen said that it is exploring a broader strategic partnership with HRE for Metlen’s South Korean project pipeline, which the company said is a ‘strategic focus’ for its M Renewables segment. This includes large-scale solar, battery energy storage systems, and green-powered data centres. Metlen said it sees data centres powered by renewables as a ‘critical part’ of its growth strategy in South Korea. Nikos Papapetrou, executive director of Metlen’s M Renewables segment, said: ‘This agreement with HRE underscores Metlen’s long-term commitment to the South Korean market and the strength of our renewables platform in East Asia. ‘It reflects the trust we have built through the successful development of high-quality solar projects and marks another step in expanding our presence in one of the most dynamic energy markets in the region.’ Sunwoong Kim, the representative executive officer of HRE, said: ‘The acquisition of this 42 MW portfolio strengthens HRE’s position as a leading renewable-energy developer and marks the beginning of a long-term collaboration with Metlen. ‘Together, we aim to expand into large-scale solar and battery storage projects that will shape the region’s sustainable energy future.’ Shares in Metlen fell 0.2% to €43.65 on Thursday morning in London. The wider FTSE 100 index was up 0.4%. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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