Metlen Energy Sees Share Surge on Green Energy Deal with Coca-Cola

Metlen Energy & Metals shares surged by 2.5% on Thursday after announcing a strategic ten-year Power Purchase Agreement (PPA) with Coca-Cola Tria Epsilon to supply green energy in Greece.

The agreement, which will run for a decade, involves Coca-Cola purchasing 100% of the electricity generated from a 12 MW photovoltaic plant located in Mikro Perivolaki, Velestino, Prefecture of Magnesia. The project is expected to produce approximately 16.5 GWh of electricity annually.

This deal supports Coca-Cola Tria Epsilon's commitment to renewable energy sourcing as part of its parent company's goal to achieve net-zero carbon emissions by 2040. Metlen operates a renewable energy portfolio with a capacity of around 0.5 GW in Greece and has completed or is executing projects totaling 11.4 GW across five continents.

Corporate PPAs are a key component of Metlen's strategy to provide energy solutions to industrial and commercial consumers.