Zelestra Secures $350 Million Green Financing to Build U.S. Solar Project Backed by Meta

Madrid-based renewable energy company Zelestra announced that it has closed $350 million in green financing credit facilities for a new 203 MW solar project in Indiana, backed by a long-term power purchase agreement with social media and tech giant Meta.

The announcement marks the latest in a series of transactions by Zelestra as it expands its U.S. platform, with a pipeline that now reaches 16 GW across key U.S. markets. With the latest close, Zelestra has passed $1 billion in project financing so far this year.

The new project, Reclamation Solar, is located on a site reclaimed from former coal mining operations in southwest Indiana. The 203 MW project will install approximately 325,000 bifacial modules while supporting soil restoration, native vegetation growth and regional biodiversity enhancement. The project is due to come online by the end of 2027.

Sybil Milo Cioffi, Zelestra’s US CFO, said:

“Passing $1 billion in US project financing this year is a milestone we are pleased to share with our lenders and our customers. Reclamation is a major project that will deliver many benefits to our customer, and to the wider community.”

The green financing credit facilities were provided by CIBC, BBVA and Societe Generale.

Ines Serrao, Head of U.S. Project Finance & Infrastructure at CIBC, said:

“CIBC is pleased to have served as Left-Lead Arranger on the financing of Reclamation Solar and to support Zelestra on this important project. The transaction demonstrates our ability to deliver financing solutions for large-scale renewable energy projects and support growing power demand across the US.”