- HRE acquires a 42 MW METLEN portfolio of solar projects in South Korea
- Landmark deal highlights METLEN’s Global Asset Rotation Plan and expansion in East Asia
- Partnership paves the way for future large-scale solar, BESS, and green-powered data center projects in South Korea
METLEN and Korean energy investment and development company HRE, have announced the signing of a landmark agreement under which HRE will acquire a diversified portfolio of solar projects in South Korea with a total installed capacity of 42 MW, the phase 1 of the renewable energy portfolio built by METLEN.
The transaction includes five operational and under-development solar projects, which combined will generate more than 60 GWh of clean electricity annually – enough to power over 12,000 Korean households. The operational projects have secured long-term PPA contracts with leading Korean conglomerates, reinforcing their strategic and commercial value.
This agreement marks another milestone in METLEN’s Global Asset Rotation Plan, underlining the Company’s ability to execute highly complex transactions. The transaction also contributes to the further strengthening of overall liquidity, supporting its strategic flexibility as it continues to scale its international operations.
Beyond this transaction, METLEN and HRE are exploring a broader strategic partnership for METLEN’s South Korean project pipeline, which includes large-scale solar, BESS, and green-powered data centers.
Sunwoong Kim, the Representative Executive Officer of HRE Co. Ltd. commented on the agreement: 'We are proud to partner with METLEN on this landmark transaction, which reflects our shared commitment to accelerating South Korea’s clean energy transition. The acquisition of this 42 MW portfolio strengthens HRE’s position as a leading renewable-energy developer and marks the beginning of a long-term collaboration with METLEN. Together, we aim to expand into large-scale solar and battery storage projects that will shape the region’s sustainable energy future.'
South Korea remains a strategic focus for METLEN’s M Renewables segment, one of the few European companies to have successfully established a strong presence in the East Asian renewables sector. Since entering the Korean market in 2022 with the construction of its first solar PV project in Yangpyung-gun, METLEN has expanded its footprint through a pipeline of large-scale solar PVs.
Nikos Papapetrou, Executive Director of METLEN’s M Renewables segment, stated: 'This agreement with HRE underscores METLEN’s long-term commitment to the South Korean market and the strength of our renewables platform in East Asia. It reflects the trust we have built through the successful development of high-quality solar projects and marks another step in expanding our presence in one of the most dynamic energy markets in the region.'
The Company also sees data centers powered by renewables as a critical part of its growth strategy in South Korea, leveraging the country’s strong digital infrastructure ambitions.
Source: METLEN
