Highlights

• Metlen signed sale and purchase agreements with Nala Renewables covering four UK solar projects of about 119MW.

• The solar parks sit in Norfolk, Somerset and East Sussex, and are ready-to-build or under construction.

• Metlen will hand over each project on issue of its Provisional Acceptance Certificate, gradually across 2027 and 2028.

• The deal extends Metlen's asset rotation strategy, recycling development proceeds into its growing international renewables pipeline.

Why would an Athens-based aluminium and power group build solar farms in England only to pass them to another owner? For Metlen Energy & Metals PLC (LSE:MTLN), the answer is its asset rotation model, and on Tuesday, 10 November 2026, the FTSE 100 company applied it again by agreeing to sell a portfolio of UK solar projects of about 119MW to Nala Renewables.

Metlen's 119MW UK solar sale: what was agreed

Metlen signed sale and purchase agreements with Nala Renewables for four large-scale solar parks located in Norfolk, Somerset and East Sussex. Each project is either ready-to-build or already under construction.

Metlen will carry out construction, with handovers taking place gradually during 2027 and 2028. Each transfer completes when the relevant project receives its Provisional Acceptance Certificate.

Once complete, the projects' annual net generation is expected to cover the electricity needs of about 52,320 households. The purchase price was not disclosed.

The asset rotation playbook behind the sale

The model of Metlen (LSE:MTLN) is to develop, build and sell renewable projects, then reinvest the proceeds into its expanding international pipeline. That pipeline includes about 2.5GW of solar, about 1.5GWh of battery storage and 137MW / 391MWh of hybrid solar-plus-storage projects.

The UK has been a recurring venue for this approach. In February 2026, the group agreed to sell seven UK solar projects totalling 283MW to Schroders Greencoat, of which 143MW was operating and 140MW under construction. That followed the June 2024 sale of two projects totalling 110MW to the same buyer.

What Nala Renewables gets from the deal

The portfolio marks Nala Renewables' entry into the UK renewables market. After handover, its Revenue from the projects will rely on a bilateral power purchase agreement combined with Contracts for Difference.

The two companies described the agreements as laying the groundwork for a long-term strategic Partnership that could extend to further renewable and storage projects across Europe.

Nikos Papapetrou, Chief Executive Director of the M Energy Transition Platform, said the sale confirms Metlen's consistent development momentum and its ability to identify, mature and deliver high-quality projects for long-term investors. He described the UK as a market of strategic importance for the group, noting that Metlen has completed more than 70 renewable and storage projects there on time and on budget, with more than 20 others underway.

Risks and points to watch

Delivery risk sits with Metlen until each handover, since completion depends on construction milestones and the issue of acceptance certificates over a two-year window. Because the consideration was not disclosed, the announcement does not allow the financial impact on Metlen to be measured. The wider partnership with Nala is a framework rather than a committed pipeline of further deals.

Where the deal leaves Metlen's UK solar ambitions

With a third UK solar disposal in little more than two years, Metlen (LSE:MTLN) continues to position its British operation as a project factory for long-term owners. Progress on construction through 2027, and any follow-on agreements with Nala, are the next markers for followers of this London Stock Exchange-listed group.