Energy and infrastructure investor Glenfarne Group has bought a portfolio of solar PV and co-located BESS projects in Chile from Greece-headquartered firm Metlen Energy & Metals.
Metlen noted that the deal is part of its “asset rotation plan”, and consists of a portfolio of four operational solar PV projects, with a combined capacity of 588MW.
The deal also includes 1.6GWh of co-located battery energy storage system (BESS) assets, on which Metlen will complete construction in the first half of 2026.
The deal was first announced between Metlen and Glenfarne subsidiary GAC RS Chile II in April 2025, and the companies completed the deal last week, valuing the portfolio at US$865 million.
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“With this acquisition, Glenfarne is increasing the technology diversity of our infrastructure by adding battery capacity and increasing geographic and revenue diversification,” said Brendan Duval, Glenfarne CEO and founder. Following the completion of this deal, the company’s renewable energy pipeline now sits at 3.1GW of capacity.
Chile will pass its 2030 target of 2GW of grid-scale BESS in January 2026, and its 2050 target of 6GW will be passed by 2027, energy minister Diego Pardow said at Solar Media’s Energy Storage Summit Latin America 2025 in Santiago in September.
