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(Sharecast News) - Metlen Energy & Metals said on Tuesday that it has agreed to sell four solar parks in the UK with a combined capacity of around 119 MW to Nala Renewables.
No financial details were disclosed but Athens-based Metlen said the portfolio comprises four utility-scale solar parks in Norfolk, Somerset and East Sussex, currently at Ready-to-Build (RtB) and Under Construction stages.
The projects, which are scheduled to be constructed and delivered in phases between 2027 and 2028, will provide clean power to the equivalent of 52,320 homes a year once completed.
Following delivery of the projects, Nala's revenue will come from a combination of contracted arrangements, including a corporate Power Purchase Agreement (PPA) and Contracts for Difference (CfDs).
Metlen said the deal advances its asset rotation strategy, through which the company develops, constructs and monetises renewable energy projects, while reinvesting capital into its growing international development pipeline.
Nikos Papapetrou, chief executive director of M Energy Transition Platform, said: "This sale reflects the continued strength of Metlen's development platform and our ability to originate, mature and deliver high-quality renewable energy assets for long-term investors. The UK is a strategically important market for Metlen, where our established project footprint, for over a decade now, provides a strong foundation for our continued contribution to the country's energy transition.
"As an integrated developer, Metlen has delivered more than 70 renewable energy and storage projects in the UK to date, on time and within budget, while more than 20 additional projects are currently progressing, comprising both third-party projects and its own assets."
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