Metlen Energy & Metals has completed the sale of most of its Chilean renewables portfolio to GAC RS Chile II, a Glenfarne Group subsidiary. This includes four operational solar projects totalling 588 megawatts with 1,610 megawatt-hours of co-located battery energy storage systems. The assets were sold for US$865 million, including assumed debt.

Glenfarne executed a financing package of over US$1 billion to fund the acquisition and provide flexibility for future acquisitions and refinancings. Scotiabank, BNP Paribas, and Société Générale led and underwrote the facilities.

The projects are located in Chile’s northern provinces, which feature some of the highest solar irradiance globally, and are interconnected across the country’s Sistema Eléctrico Nacional ( SEN ), enhancing operational optimization and geographic diversification.

Milbank advised the lenders on all aspects of the financing, including structuring and documentation of the facilities, which support Glenfarne’s strategic expansion in Latin America’s renewable energy sector.