Zelestra Secures $113M Financing For Indiana Solar

Zelestra, a worldwide renewable energy industry leader, has moved into the next phase of its American expansion strategy with the signing of a $113 million Senior Secured Credit Facility with Banco Santander to fund the construction of an 81 MWdc solar facility in Jasper County, Indiana. The financing, arranged under Zelestra's Green Financing Framework, will propel the construction and operational deployment of the Jasper County Solar Project, set for full commercialization in the fourth quarter of 2025.

The initiative underscores Zelestra's dedication to expanding clean energy solutions in the United States and reinforces its partnership with technology giant Meta, which has signed a long-term environmental attributes purchase agreement (EAPA) for the renewable attributes produced by the Jasper facility. The transaction is one of six such agreements that Zelestra has entered into with Meta throughout the U.S., further cementing both companies as central figures in America's clean energy transition.

Zelestra's new Green Financing Framework, crafted in consultation with BNP Paribas and certified by DNV, reaffirms its commitment to environmental and sustainability considerations. The framework acts as a standard for environmentally friendly investments, ensuring projects such as Jasper are part of bigger climate objectives. The support from Banco Santander also confirms Zelestra's plan and indicates robust investor confidence in its renewable energy initiative.

Speaking on the landmark, Sybil Milo Cioffi, finance chief of Zelestra's US operations, was optimistic regarding the growth track of the company. "Closing this financing is a significant milestone as we continue to deliver value to our customers and expand in the US," Cioffi said. "The support of Banco Santander reflects confidence in our strategy and our people.". We are also pleased to have the EAPA on board with Meta, one of six total we have in partnership with them throughout the US.

The Jasper County Solar Project is a strategic expansion for Zelestra's expanding U.S. renewable energy platform, which currently exceeds 7 GW of committed capacity, including solar and battery energy storage systems (BESS). Of this total, more than 1 GW of fully contracted projects are to go into construction in the next two years, reflecting a dramatic ramp-up of Zelestra's deployment of clean energy infrastructure.

The Jasper project is not only a milestone in financing and corporate partnership but also in national and international efforts to minimize carbon emissions and shift towards clean power sources. With corporate buyers and institutional investors increasingly demanding clean energy solutions, Zelestra's capacity to execute large-scale, fully contracted projects like Jasper further positions it as a key driver of the energy transition.

Zelestra's listing among the top 10 clean energy sellers globally to corporate buyers by BloombergNEF, and ranking #2 in the EMEA, reflect the company's global leadership in renewable energy. Its work in the U.S. market, particularly through substantive partnerships with the likes of Meta, marks a calculated attempt to spread reach and drive impactful outcomes.

"Jasper is spearheading our execution of significant US projects," Cioffi said. "With more than 1 GW of fully contracted projects moving towards construction in the next two years, we are making good on our commitment to be at the forefront of the clean energy future."

For Meta, the deal represents another step forward in achieving its sustainability objectives, solidifying its status as a leading corporate clean energy buyer in the U.S. The firm has long led the way with renewable energy use in its business, and the expanded partnership with Zelestra further diversifies its energy mix.

As the clean energy landscape continues to transform, the collaboration between Zelestra and Meta is a blueprint for how corporate and renewable energy industry leaders can work together to drive the energy transition forward. With solid financing, an impressive pipeline, and high-profile corporate support, Zelestra is well-positioned to increasingly lead the future of renewable power in the United States.