Metlen Shares Leap on Green Energy Deal with Coca-Cola Tria Epsilon

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

The agreement sees Coca-Cola Tria Epsilon purchasing 100% of the electricity generated from a photovoltaic plant with approximately 12 MW capacity located in Mikro Perivolaki, Velestino, in the Prefecture of Magnesia. The project is estimated to produce around 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 of approximately 0.5 GW capacity in Greece, with a global total capacity of 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.