METLEN and the Tsakos Group have formalized their partnership by bringing METLEN into an existing Special Purpose Vehicle (SPV) established by the Tsakos Group. This move marks the transition from strategic agreement to active implementation of one of Greece’s largest hybrid renewable energy projects — combining solar photovoltaic generation with large-scale energy storage.
A 251.9 MW Solar Farm with 375 MWh Storage
The joint SPV — now co-owned, with METLEN holding a 40% stake — will oversee the development, construction, operation (including energy management), and commercial management of the project. Located in Central Greece, the facility will feature a 251.9 MW photovoltaic power station and a battery energy storage system with a total capacity of approximately 375 MWh.
Strategic Investment in Next-Generation Renewables
For METLEN, the project represents a strategic investment reinforcing its leadership in next-generation renewable energy infrastructure. By integrating utility-scale solar generation with storage, the initiative supports grid stability, flexibility, and long-term energy security. METLEN will lead both construction and end-to-end energy and commercial operations, drawing on its international expertise in complex hybrid energy projects.
Leadership Perspectives
Evangelos Mytilinaios, Executive Chairman of METLEN, said: “Formalizing our collaboration through this jointly owned SPV is a pivotal step toward delivering a landmark investment for Greece’s energy market. Large-scale hybrid projects — pairing renewable generation with storage — lie at the heart of the new energy system. METLEN brings the technical know-how and global experience needed to deliver such complex infrastructure, and we remain committed to building energy assets that strengthen supply security, grid resilience, and Greece’s economic competitiveness.”
Nikos Tsakos, CEO of TEN Ltd., added: “Our partnership with METLEN is built on shared values and a common vision. As one of the world’s leading integrated energy and metals companies — publicly listed on the London Stock Exchange — METLEN’s scale and credibility underscore the significance of this venture. We believe in long-term, trust-based collaborations grounded in consistency and shared ambition. Establishing this joint company lays the foundation for successfully delivering an iconic project for Greece’s energy future.”
Panagiotis Tsakos, founder of the Tsakos Group, also expressed strong confidence in the partnership and its leadership team.