Zelestra’s efforts have been transformative in advancing the field of renewable energy development. In April 2025, they completed a $113 million project financing credit facility for their 81MWdc Jasper County solar plant in Indiana, USA. The firm at the end of June was first to achieve financial close on a portfolio of six solar photovoltaic (PV) projects in Spain. Combined, these projects have a remarkable capacity of 237 MWdc. These initiatives point to a notable long term investment in green energy production and job creation.
Most recently, Spain closed out their senior debt package of €146.6 million ($164.8 million). This funding is strictly limited to the capital phase for all projects – that’s the building stage. These funds go to back 21 power purchase agreements (PPAs), highlighting Zelestra’s deep strategic alliances across the renewable energy industry. The Belinchón cluster in Cuenca, Castilla-La Mancha, sparkles out amongst the projects. It includes three projects that combined produce more than 162MWdc and are projected to create 322 gigawatt-hours (GWh) per year.
Of Zelestra’s remaining efforts in Spain, the earliest are expected to go into service in the second quarter of 2026. The six solar projects will produce enough yearly electricity to power approximately 150,000 homes. Together, they are supposed to avoid 84,596 tonnes of CO₂ emissions each year. This is a good match with Spain’s ambitious decarbonisation objectives, making Zelestra’s pledge to work actively towards environmental sustainability even stronger.
In addition to making much-needed improvements, the projects will result in more than 400 construction jobs in the year ahead, providing a direct stimulus to local economies. Luis Alvargonzalez, Zelestra’s Spain country manager, expressed confidence in the company’s trajectory:
“Closing this major financing agreement is an important step in delivering these large-scale solar projects on time and on budget for our customers. We are very pleased that the financial community has confidence in Zelestra’s strategy and our team, and we thank BNP Paribas and Rabobank for their support. With construction taking shape, these projects will support hundreds of jobs over the next year and make an important contribution to Spain’s decarbonisation goals.”
Zelestra’s projects in Spain are over 6GW, showcasing the company’s deep footprint on the Spanish renewable energy landscape. The firm today has over 800MW of projects still contracted, under construction, or generating power across the national landscape.