Press Release

 

MYTILINEOS: METKA EGN SELLS FOUR OPERATIONAL SOLAR PV PLANTS TO LIGHTSOURCE BP

Athens, Greece – 26 March 2018 – MYTILINEOS continues to seek and create new investment opportunities and broadens its activities in the exciting and promising field of solar photovoltaic power projects. Therefore, it is with great pleasure that the company announces a new successful transaction between its subsidiary METKA EGN and Lightsource BP, the leading solar power company, to sell four operational solar photovoltaic power projects in the United Kingdom, with total capacity of 18 MW.

 

The four solar projects were developed and constructed by METKA EGN to meet the 31 March 2017 deadline, and subsequently received accreditation under the 1.2 Renewable Obligation Certificate (ROC) program.

 

MYTILINEOS' subsidiary, METKA EGN shows that the pursuit of excellence and higher technological innovation is a key element of its activities. METKA EGN's recently formed project development team lead by Fabio Spucches was responsible for development and structuring of the projects, while the turn-key engineering, procurement, and construction (EPC) contracts were carried out by METKA EGN's well established, London based, project execution organization. 

 

Construction finance was provided by METKA EGN, and non-recourse project finance for the projects was concluded post-completion by Lightsource BP.

 

Nikos Papapetrou, CEO of METKA EGN stated: “This successful transaction represents a great example of our end-to-end project development and execution capabilities, focused on high-quality, investment grade projects. We are delighted that this transaction was concluded with Lightsource BP, our major partner. Our international project development pipeline continues to grow and we are very optimistic on the prospects for this growing segment of our business.”

 

Nick Boyle, Group CEO of Lightsource BP stated: ‘We are pleased to be adding 4 operational PV power projects to our rapidly expanding portfolio. Our in-house, strategic asset management and operation and maintenance teams will ensure these sites perform to optimum standard. This transaction affirms our competitive pricing in the market and we look forward to completing further transactions with solar asset owners like METKA EGN across the UK.”

 

 

For more details, please contact:

Ms Antigoni Fakou: MYTILINEOS Press Office Tel. +30 210-6877346 | Fax +30 210-6877400 | E-mail Antigoni.Fakou@mytilineos.gr

 

About MYTILINEOS

MYTILINEOS S.A. is a leading Greek industry active in Metallurgy, Power & Gas and EPC & Infrastructure. Established in Greece in 1990, the Company is listed on the Athens Exchange, has a consolidated turnover in excess of €1.3 billion and employs directly or indirectly more than 2,700 people in Greece and abroad. For more details, please visit the Company's website: www.mytilineos.gr

 

About METKA EGN

METKA EGN is a joint venture between MYTILINEOS and the EGNATIA Group, focused on development and construction of utility scale projects for the global solar power and energy storage markets. The company serves major international clients primarily in the markets of Europe, Middle East, Central Asia and the Americas. Further information is available on the company website at www.metka-egn.com.

 

About Lightsource BP

Lightsource BP is a global leader in the funding, development and long-term management of solar PV projects. Established in 2010, Lightsource BP has swiftly become the largest utility scale solar developer and largest O&M services provider in Europe with over $3bn of capital invested across 2GW of solar projects globally. Through its integrated platform, ground-breaking structured finance, in-house engineering excellence and dedicated O&M division, Lightsource BP plays a pivotal role in driving the future global energy mix. The company also boasts some of the best talent in the industry, with a team of over 300 specialists in ten offices across [four] continents.

 

With approximately 2GW under management, of which 1.3GW was developed in-house, Lightsource BP has established a significant global pipeline across its four divisions:

•    UK & Europe Large Scale Solar (est. 2010)

•    India, Middle East and Asia (IMEA) Large-Scale Solar (est. 2016)

•    North America Large-Scale Solar (est. 2017)

•    Australia (est. 2017)

•    LS Labs Smart Home & Distributed Energy Software (est. 2015

 For further information visit www.lightsourcebp.com.