Zelestra has closed a $113m financing transaction an 81MW (dc) solar project in Indiana
Banco Santander has provided the senior secured credit facility for the Jasper County solar project due to be operational in Q4 2025.
The project has long-term environmental attributes purchase agreement (EAPA) with Meta.
Banco Santander acted as the sole arranger of the facility.
The facility is designated as green financing under Zelestra’s Green Financing Framework.
Validated by DNV, and assisted by BNP Paribas, the recently updated framework outlines how Zelestra intends to execute financial transactions that qualify as green financing, direct investments towards projects that generate a positive impact and accelerate the transition to a low-carbon economy.
Sybil Milo Cioffi, Zelestra’s US CFO, said: “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. 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.”
Zelestra has a US project pipeline of nearly 7GW consisting of solar and battery projects.
