METLEN (RIC: MTLN.L, Bloomberg: MTLN.LN, MTLN.GA, ADR: MYTHY US) and the Karatzis Group of Companies are proceeding with a new strategic partnership through their participation in a joint investment scheme with stakes of 49% and 51% respectively, for the development, construction, operation and commercial management (energy management) of a Battery Energy Storage System (BESS) with capacity of 330MW / 790MWh in Thessaly.
This represents the largest standalone energy storage unit launched to date in Greece and one of the largest in Europe. This specific investment comes to complement and expand the cooperation between the two companies for the sale and absorption of “green” energy, which since August 2024 involves the implementation of a portfolio of photovoltaic stations with total capacity of 262MW in the same region.
Implementation of the investment is expected to be completed within the 2nd quarter of 2026. The total cost amounts to €170 million, for which no subsidies through grants or tax exemptions are foreseen. METLEN, investing in this specific unit, undertakes the construction, operation and maintenance of the facility through M Renewables. It should be noted that the M Renewables Sector of METLEN’s Energy Division has proven experience in implementing complex energy storage projects (BESS), with presence and projects on five continents. In 2024 alone, METLEN completed storage projects with total capacity of 0.7GWh, while it is in final agreement stages for third-party projects with total capacity of 2.2GWh. Through strategic partnerships, such as this one with the Karatzis Group with whom there has been excellent cooperation in recent years, METLEN confirms its leading role in strengthening energy security and the “green” transition, creating the Utility of tomorrow.
