Chile's Copec Signs Agreement to Acquire 165MW Solar + 725MWh Energy Storage Project

en.Wedoany.com Reported - On September 10, METLEN Energy & Metals signed a sale agreement with Chile's Copec for the Tamarico II hybrid energy project, which Copec will acquire through its subsidiary Copec Flux. Tamarico II is located in the Atacama Region of Chile and is planned to feature a 165MW photovoltaic power plant and a 725MWh battery energy storage system, with storage capacity expandable to 925MWh at a later stage. METLEN's disclosure this time concerns the signing of the project sale agreement, with the transaction amount not disclosed.

Tamarico II was previously advanced through environmental review under the name "Parque Solar Fotovoltaico Tamarico Fase II." According to records from Chile's Environmental Assessment Service, the project is located in Vallenar, Atacama Region, and was originally filed with 169.02MW of DC-side solar capacity and 159.6MW of AC-side capacity, comprising 281,700 bifacial photovoltaic modules, along with a booster substation and a 220kV transmission line; the declared investment at that time was USD 250 million.

The project obtained environmental approval in September 2025. In May 2026, Chile's Council of Ministers reviewed relevant appeals and upheld the favorable environmental qualification decision for the project, allowing the original environmental approval to remain in effect. The transaction currently disclosed by METLEN has updated the project capacity to 165MW of solar and 725MWh of storage, while retaining the option to expand storage to 925MWh.

The project's original environmental documents also included 33/220kV booster facilities, inverter-booster units, and high-voltage transmission works connecting to Chile's national power system. The main photovoltaic construction phase in the early plan had an 18-month construction period, and the project's environmental filing materials listed the execution start date as March 31, 2027; this asset sale announcement did not re-disclose the construction start and commercial operation timelines.

Copec Flux is the acquiring entity in this transaction. METLEN and Copec had previously established a power business partnership, having signed a 15-year power purchase agreement in 2025 through Copec EMOAC covering four METLEN solar plants in Chile, with annual supply of approximately 450GWh, supported by a 322MW battery energy storage system. The Tamarico II sale agreement further extends the cooperation between the two parties from power purchase and sale to transactions involving renewable generation and energy storage assets.