Greek developer shops Australian solar and battery portfolio

Greek industrial conglomerate Metelen Energy and Metals have initiated the auction of its Australian renewable energy portfolio, which includes eight operational or under-construction solar farms and a development pipeline totalling 2.9 GW.

This portfolio encompasses projects in New South Wales (NSW), Queensland, and Victoria.

Metlen has appointed the financial services group Macquarie to manage the sale. Macquarie will oversee assets such as the 75 MW Wyalong, 19 MW Wagga, 30 MW Wagga North, Corowa, and Junee solar farms in NSW and the 100 MW Moura solar farm in Queensland. Also included are the 40 MW Kingaroy solar farm nearing commissioning and the 120 MW Munna Creek solar farm, expected to be completed by late 2024.

Most projects benefit from long-term offtake agreements with entities like Queensland's CS Energy, Coles, and Telstra. The company's 2.8 GW development pipeline features the Mavis solar and battery energy storage project in NSW's Central-West Orana Renewable Energy Zone, targeting a 250 MW solar farm and a 100 MW / 200 MWh battery storage system, with an investment decision anticipated in early 2025.

Metlen is also considering the sale of its hydrogen assets and New Zealand solar development projects, including its 15% stake in Clara Energy's Rosedale green hydrogen project, integrating an 800 MW solar farm adjacent to a 560 MW hydrogen production facility between Melbourne and Sydney.

The auction will proceed in two stages, with non-binding offers expected shortly and final binding offers anticipated in late 2024, as outlined in the information circulated to potential buyers.