Zelestra, one of Europe’s largest developers of renewable energy, today announced that it has completed a revolutionary structured syndicated €130 million ($154 million) equity-bond facility with Santander. This loan agreement will be critical to bolstering Zelestra’s capacity. It furthers their long term devotion to designing, commercializing, building and operating cutting-edge, utility-scale renewable energy projects. The agreement is well supported by the Instituto de Credito Oficial (ICO) and the Spanish Export Credit Agency, Cesce. This support is a strong endorsement of confidence in the potential of Zelestra’s global strategy.
Operating as a vertically integrated impact enterprise, Zelestra has emerged as a pioneer on the leading edge of the renewable energy economy. Indeed, recent creator Santander recently invested $9 million into her company. This strategic decision helps to diversify the company’s financial expressions and accelerate the deployment of global clean energy solutions. ICO and Cesce’s joint involvement in the series B indicates the willingness of the financial community to bet on Zelestra’s vision, goals and achievements.
The money will enable Zelestra to advance up to 500 megawatts (MW) of contracted renewable energy projects. These projects will take place throughout Germany, Italy, and the United States. Zelestra’s most recent PPA was for the Skull Creek Solar Plant in Texas. This deal deepens Zelestra’s collaboration with Meta as they both scale up their efforts to promote clean energy to new areas.
Xavier Puig, said he was excited to receive the funding. He stated,
“As we continue to deliver substantial growth globally based on Zelestra’s customer-centric strategy, we are delighted to have the backing of major international lenders and credit agencies.”
Puig added that this facility will significantly enhance Zelestra’s ability to undertake large-scale clean energy projects for clients and communities in various global markets. There are no other projects on the list that have construction starting any earlier than 2026 and 2027. These combined projects will include new wind, solar and battery energy storage technologies.
Cesce’s role in this complex funding structure is key. Their grant and credit programs complement a robust investment insurance program that focuses on political, commercial, and extraordinary risks borne by Spanish firms as they operate abroad. The support from both ICO and Cesce highlights the strategic importance of this financial partnership for Zelestra’s ongoing growth trajectory.