Metlen Energy & Metals (ATH:METLEN) shares increased 2.5% on Thursday after the company announced a strategic ten-year Power Purchase Agreement with Coca-Cola Tria Epsilon to supply renewable electricity in Greece.
Under the terms of the agreement, Coca-Cola Tria Epsilon will purchase 100% of the electricity produced by a photovoltaic plant located in Mikro Perivolaki, Velestino, in the Prefecture of Magnesia. The installation has an approximate capacity of 12 MW and is forecast to produce about 16.5 GWh of electricity per year.
The transaction supports Coca-Cola Tria Epsilon's sourcing of renewable power as part of the wider commitment made by parent company Coca-Cola HBC to reach net-zero carbon emissions by 2040. The announcement notes that Coca-Cola Tria Epsilon currently sources all of the electricity used in its production facilities from renewable sources.
For Metlen, the deal is another example of its corporate PPA activity. The company reports a renewable energy portfolio in Greece of approximately 0.5 GW. On a global basis, Metlen has completed or is executing projects that total 11.4 GW of capacity across five continents. Its Renewable Energy Aggregator business oversees a portfolio with total installed capacity exceeding 3.2 GW in Greece, Italy, and Romania.
Corporate power purchase agreements are highlighted by Metlen as a core element of its strategy to deliver energy solutions to industrial and commercial customers. The new ten-year PPA with Coca-Cola Tria Epsilon adds a long-term offtake to a mid-sized solar project and further integrates the company into the corporate renewable procurement market.
Market and sector context
The agreement links a renewable energy developer and a major beverage producer through a long-term contract for clean power. The arrangement has implications for the renewable energy sector and for industrial and manufacturing operations that source electricity through corporate PPAs. It also speaks to the market for mid-sized photovoltaic projects in Greece and the use of long-dated contracts to secure supply for sustainability commitments.
Conclusion
The ten-year PPA has coincided with a modest positive movement in Metlen's share price and reinforces both companies' public positions on renewable energy sourcing. The agreement preserves the factual details announced by the parties, including plant capacity, estimated annual generation, and the stated alignment with Coca-Cola HBC's net-zero objective.