METLEN Energy & Metals, a multinational energy company with a strong presence in Greece, has announced a major investment in solar energy in Alberta, Canada.
The company is investing $2.2 billion CAD in five solar projects that will generate 2.1 terawatt-hours of clean energy annually, enough to power approximately 200,000 homes.
The announcement was made by Luis Laguna, METLEN's North America Regional Managing Director, at the Toronto Economic Forum III. Mr. Laguna emphasized the company's commitment to sustainable energy and highlighted the positive impact these projects will have on the local community, including the creation of over 1,500 construction jobs and a similarly sized workforce once the projects are operational.
"Canada provides the ideal setting for METLEN’s expansion, with a community that shares our commitment to sustainable energy,” Mr. Laguna stated.
He also referenced the company's recent establishment of a regional hub in Calgary, Alberta, further solidifying its presence in Canada.
Two of the five solar projects are already in advanced stages and are expected to begin construction soon. Mr. Laguna expressed METLEN's eagerness to explore partnerships that could enhance these developments.
In addition to its Canadian investments, Mr. Laguna highlighted METLEN's strong performance in 2024, with revenue reaching 4.2 billion euros in the first nine months and EBITDA growing by 6% year-over-year.
The company is also aiming to list on the London Stock Exchange with ambitions of joining the FTSE 100 index.
METLEN is the largest independent power producer in Greece, generating over 2.3 GW of energy from a mix of thermal and renewable sources.
The company also has a growing presence in Southeast Europe, where it is expanding its natural gas supply and trading operations.
Mr. Laguna concluded by reaffirming METLEN’s dedication to sustainable growth and addressing global energy challenges, stating, "Our mission is to address today’s most urgent challenges—energy security, affordability, and the transition to a sustainable energy mix.”