Metlen Shares Rise After Securing 10-Year Green Energy PPA With Coca-Cola

Shares of Metlen Energy & Metals (ATH:METLEN) climbed 2.5% on Thursday following the announcement of a strategic 10-year Power Purchase Agreement (PPA) with Coca-Cola Tria Epsilon to supply green energy in Greece.

Agreement Details

Under the terms of the deal, Coca-Cola Tria Epsilon will purchase 100% of the electricity generated from a new Metlen photovoltaic plant. The facility, located in Mikro Perivolaki, Velestino, will have an approximate capacity of 12 MW.

The solar project is expected to produce an estimated 16.5 GWh of electricity annually, according to the announcement. This long-term PPA provides a stable revenue stream for Metlen while securing a fixed-price renewable energy supply for the consumer.

Strategic Importance

For Coca-Cola Tria Epsilon, the agreement is a key step in supporting the sustainability targets of its parent company, Coca-Cola HBC, which has committed to achieving net-zero carbon emissions by 2040. The company already sources 100% of the electricity for its Greek production facilities from renewable sources.

Ad

For Metlen, this PPA underscores the company's strategy of providing bespoke energy solutions for large industrial and commercial clients. Such corporate agreements are increasingly vital for energy producers to de-risk investments in new renewable capacity.

Metlen's Renewable Portfolio

Metlen currently operates a renewable energy portfolio of approximately 0.5 GW in Greece. The company's global footprint is significantly larger, with projects totaling 11.4 GW either completed or under execution across five continents.

Additionally, Metlen's Renewable Energy Aggregator division manages a portfolio with a total installed capacity exceeding 3.2 GW across Greece, Italy, and Romania, positioning it as a major player in the regional energy market.