Copec agreed to purchase from METLEN the Tamarico II hybrid project, located in the Atacama region, with 165 MW of photovoltaic capacity and a BESS system of 725 MWh expandable to 925 MWh.
The operation will be carried out through Copec Flux SpA and reinforces the Chilean group's strategy to build its own portfolio of renewable generation and storage.
For METLEN, however, the sale fits within its asset rotation model, based on developing, building and operating projects and then monetizing them through their transfer to third parties.
“Tamarico II is a key example of how METLEN transforms its international experience and track record in Chile into a mature and competitive energy infrastructure,” said Nikos Papapetrou, CEO of M RESET.
From Copec, Arturo Natho stated that the purchase represents "another step in Copec's strategy to consolidate its own portfolio of renewable energy generation and energy storage."
The currently announced configuration includes 165 MW of solar power and 725 MWh of batteries , although the storage component can be scaled up to 925 MWh , bringing the project closer to the 1 GWh threshold.
Tamarico II was originally presented under the name Tamarico Phase II . When it entered the Atacama Environmental Assessment Service in January 2024, the design considered 169.02 MWdc of photovoltaic capacity and 159.6 MWac of nominal power , in addition to a storage system with lithium-ion batteries whose capacity had not yet been defined.
The environmental proposal included 281,700 bifacial photovoltaic modules , an area of 378 hectares, a 33/220 kV step-up substation and an evacuation line of approximately 2.34 kilometers.
At that time, the declared investment for the project amounted to USD 250 million .
The figures now reported by METLEN show an evolution of the original configuration, mainly due to the definition and scalability of the storage system.
The operation also consolidates a commercial relationship that both companies have been building for three years.
An alliance that already includes solar generation and storage
In July 2025, METLEN had signed a 15-year PPA with Copec EMOAC to supply 450 GWh annually from four solar plants in Chile.
That agreement was backed by 322 MW of METLEN's BESS systems , with supply expected to start from the second quarter of 2026.
The sale of Tamarico II now expands that relationship from energy supply to direct asset ownership.
According to the companies, the agreement could also lay the groundwork for new joint investments in renewables and storage in Chile .
For Copec, the addition of the asset will allow it to expand the energy solutions offered to its customers and strengthen its exposure to a technological combination that is gaining traction in the Chilean market: solar generation accompanied by large-scale batteries.
For METLEN, the transaction validates its strategy of developing hybrid projects until they reach a mature stage and then capturing their value through divestments.
With up to 925 MWh of storage , Tamarico II thus becomes a piece of scale within Copec's expansion in storage and deepens the movement of capital towards hybrid assets in one of the most dynamic battery markets in the region.