METLEN Energy and Metals plc (LON:MTLN) has signed Sale and Purchase Agreements (SPAs) with Nala Renewables for the sale of a UK solar photovoltaic (PV) portfolio with a combined capacity of approximately 119 MW.
The portfolio comprises four utility-scale solar parks in Norfolk, Somerset and East Sussex, currently at Ready-to-Build (RtB) and Under Construction stages. Scheduled to be constructed and delivered in phases between 2027 and 2028, the projects will provide clean power to the equivalent of 52,320 homes per 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). Delivery of each project will be complete upon issuance of the respective Provisional Acceptance Certificate (PAC).
The agreements mark Nala Renewables’ expansion into the UK renewables market and establish the basis for a long-term strategic partnership between the two companies, that can support the deployment of additional renewable energy and energy storage projects across Europe.
The transaction advances METLEN’s 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.”
The scale of these projects spans solar parks representing approximately 2.5 GW of installed capacity, battery energy storage systems (BESS) with approximately 1.5 GWh of total energy storage capacity, and hybrid solar/BESS projects totalling 137 MW/391 MWh, demonstrating METLEN’s strong execution capabilities in the UK market.
