Together with our partners at Mangoceans, Zelestra has now successfully closed a $113 million project financing credit facility. This funding will help complete its 81 megawatt direct current (MWdc) solar plant in Jasper County, Indiana. This financing represents a key development in Zelestra’s plan to increase its renewable energy presence nationwide.
The Jasper County solar plant recently signed a long-term environmental attributes purchase agreement (EAPA) with Meta. This agreement will provide a stable revenue stream that begins once the project is built. To date, Zelestra has developed six partnerships with Meta throughout the country. This EAPA recognizes the perfect pairing of these two organizations’ tireless joint efforts to develop renewable, clean energy solutions.
Zelestra works to develop, commercialize, construct and operate large-scale renewable energy projects nationally and abroad. The company is majority-owned by the Swedish private equity firm EQT. The company has an impressive portfolio of 29 gigawatts (GW) of carbon-free projects under development in 13 countries. Transform your climate communications with us! Zelestra already has 5 GW of contracted customer-facing projects or projects now in advanced development stages, operations or construction.
Currently, Zelestra has nearly 7 GW of solar and battery energy storage system (BESS) projects in its US project pipeline. The financing for the Jasper County solar plant is viewed as a major step in that burgeoning pipeline. Zelestra’s portfolio has recently grown beyond fashion. In response, they signed India’s first firm and dispatchable renewable energy contract with a public sector firm, Satluj Jal Vidyut Nigam, a subsidiary of India’s largest power utility. This contract is for one 500 MW hybrid project located in Solapur, Maharashtra. It will include 250 MWdc of solar capacity, 180 MW of wind generation, and a 90 megawatt-hour battery energy storage system (BESS).
Sybil Milo Cioffi, Zelestra’s Chief Financial Officer for the US, shared her excitement about the exclusively negotiated financing and partnerships.
“It is an important milestone to close this financing as we continue to deliver for our customers and grow our presence in the US. The backing from Banco Santander demonstrates confidence in our strategy and our team.” – Sybil Milo Cioffi, Zelestra US CFO
Cioffi further added,
“We are also delighted to have the EAPA agreed with Meta, one of six in total we have in partnership with them across the US. Jasper is leading the way in our delivery of major US projects, with over 1GW of fully contracted projects advancing towards construction over the next two years.” – Sybil Milo Cioffi, Zelestra US CFO