METLEN and Korean energy investment and development company HRE have unveiled 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 first phase of the renewable energy portfolio built by METLEN.
In this partnership the companies will operate on 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 made long-term PPA contracts with leading Korean conglomerates, reinforcing their strategic and commercial value.
This agreement holds another achievement in METLEN’s Global Asset Rotation Plan, underlining the company’s ability to execute highly complex transactions. The transaction also contributes to the further upholding of overall liquidity, supporting its strategic flexibility as it continues to scale its international operations.
Executive Statement
According to Sunwoong Kim, the Representative Executive Officer of HRE Co. Ltd., they are proud to partner with METLEN on this major transaction, which reflects their shared commitment to accelerating South Korea’s clean energy transition. The acquisition of this 42 MW portfolio supports HRE’s position as a leading renewable-energy developer as well as marks the beginning of a long-term collaboration with METLEN. Together, they focus on expanding into large-scale solar and battery storage projects that will shape the region’s sustainable energy future.
According to Nikos Papapetrou, Executive Director of METLEN’s M Renewables segment, 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 they 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.
