METLEN Sells UK Solar Parks to Nala; Shares Up 1%

METLEN (LON: MTLN), the Greek-origin energy and metals group, has signed agreements to sell four UK solar parks of about 119 MW to Nala Renewables. The press release gives no price or financial terms, so the value of the sale to METLEN cannot be sized.

At 09:31 the shares were up 1.01% on yesterday’s close, a modest gain. They opened at the day’s high and have drifted lower since, on thin volume, so the deal cannot be shown to explain the rise. They remain about 9.5% below the closing high of the 11th of August and are 4.1% higher year to date.

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The parks are in Norfolk, Somerset and East Sussex, at Ready-to-Build (permitted, awaiting construction start) and Under Construction stages. Construction and delivery run in phases through 2027-2028, and each project’s delivery completes when the Provisional Acceptance Certificate, the sign-off marking handover, is issued.

For Nala Renewables the purchase marks its expansion into UK renewables. The release describes it as a basis for a long-term strategic partnership across Europe, covering renewable and storage projects.

The sale is an example of METLEN’s asset-rotation strategy: develop, build and sell renewable projects, then reinvest the proceeds in its international development pipeline. That matters for a group whose FY2025 adjusted net debt of EUR2.10bn was 3.1x EBITDA (earnings before interest, tax, depreciation and amortisation) of EUR753m. With no price disclosed, any effect on debt or earnings is unknown.

Nikos Papapetrou, Chief Executive Director of M Energy Transition Platform, METLEN’s renewables and energy-transition business, said of the sale:

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.

Nikos Papapetrou, METLEN

METLEN says it has delivered more than 70 renewable energy and storage projects in the UK, with more than 20 further projects progressing, covering both third-party projects and its own assets.