METLEN completes Australia solar portfolio financing

Metlen Energy & Metals, a global industrial and energy company, has reached financial close with Deutsche Bank, Intesa Sanpaolo, and Westpac. The deal refinances its Australian renewable energy portfolio. This includes six operational solar farms in New South Wales and Queensland. It also includes the 150MW Munna Creek Solar Farm, which is nearing construction completion. The projects were developed over six years. The portfolio is expected to generate nearly 1TWh of clean energy annually. This output would offset around 650,000 tons of CO₂ emissions each year. Power and LGCs are sold under 10-year green PPAs. Offtakers include CS Energy, Coles, Telstra, NBN, SmartestEnergy, and Zen Energy. The financing includes AUD269million (~$ 174.69 million) in operating term loans. It also includes AUD158million (~$ 102.59 million) for construction. An additional AUD33million (~$ 21.42 million) was allocated for ancillary facilities. Westpac served as facility agent, structuring bank and account bank.METLEN previously signed EPC contracts for 313.4MW solar capacity in the UK, complementing its Australian portfolio refinancing.