Metlen Energy and Metals refinances 532MW solar PV portfolio in Australia

Facebook
Twitter
LinkedIn
Reddit
Email
Metlen Energy and Metals’ 64MW Wagga North solar PV plant. Image: Metlen Energy and Metals.

Greek developer Metlen Energy and Metals, formerly known as Mytilineos, has refinanced a 532MW solar PV portfolio in Australia.

The financing, which totals AU$460 million (US$297 million), comprises six operational utility-scale solar PV power plants and a 150MW plant currently under construction in southwest Queensland.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Metlen confirmed that the financing structure will feature an AU$269 million operating term facility, an AU$158 million construction facility dedicated to the 150MW Munna Creek solar PV plant in Queensland, and an AU$33 million ancillary facility.

Australian multinational banking and financial services company Westpac Banking acted as facility agent, security trustee, account bank, hedging coordinator and structuring bank. Other lenders include Deutsche Bank and Intesa Sanpaolo (IMI CIB Division).

Most of the operational solar PV plants are in New South Wales and Queensland.

The projects located in New South Wales include Corowa (40MW), Junee (40MW), Wagga North (64MW) and Wyalong (75MW). Together, these total 219MW of operational generation capacity.

Readers of PV Tech might remember that the Corowa solar PV power plant, located on the bank of the Murray River near the border with Victoria, was the fourth best-performing utility-scale solar asset, in terms of AC capacity factor, for March 2025.

Two operating solar PV power plants are located in New South Wales’ northern neighbour, Queensland. These are the Moura (110MW) and Kingaroy (53MW) solar PV power plants.

Metlen, when it was operating as Mytilineos, reached financial close on the Moura, Kingaroy and Wyalong power plants in December 2022. Westpac and ANZ provided the financing.

The Moura power plant also ranked second-best as April’s top-performing utility-scale solar PV asset, in terms of AC capacity factor.

The solar PV plant is located 6.5km southwest of Banana, a rural town in central Queensland. The town gets its name from a well-known working bullock who went by the same name in the 1850s.

Metlen has confirmed that most of its portfolio’s power and large-scale generation certificates (LGCs) are sold under 10-year power purchase agreements (PPAs) with various offtakers. This includes CS Energy, Coles, Telstra, National Broadband Network, Smartest Energy and Zen Energy.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

Premium
October 6, 2025
Talon PV aims to be the first US company to safely manufacture TOPCon cells at scale, backed by European technology and a crucial First Solar licensing deal.
October 6, 2025
Indian infrastructure company focused on rooftop and ground-based solar power installations, PVV Infra has secured solar power orders worth INR7.9 billion (US$90 million) through two of its subsidiaries. 
October 6, 2025
US utility AES Corporation is reportedly in discussions to be acquired by Global Infrastructure Partners (GIP), a subsidiary of global asset owning giant BlackRock.
October 6, 2025
Indian solar developer ACME Group has established a new subsidiary to manage its renewable equipment manufacturing business, under which it is planning to scale production of TOPCon PV modules.
October 6, 2025
Rajasthan government will develop 500MW/2,000MWh of standalone battery energy storage systems (BESS) with a four-hour single-cycle configuration and extended operational life.
October 6, 2025
German solar inverter manufacturer SMA Solar will cut 350 jobs in 2026 as it adapts to the “weak” residential PV market.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland