CONNECT WITH US
Climate & Energy

Climate & Energy

Zelestra closes US$350 million financing at 203MW PV plant in Indiana backed by Meta

PV Tech logo

Published on

Add as a preferred source on Google
Zelestra closes US$350 million financing at 203MW PV plant in Indiana backed by Meta

The Reclamation Solar project is already under construction and commercial operation is expected to begin at the end of 2027.

Zelestra has signed three similar agreements with Meta this year (of seven extant PPAs in the US between the two) for solar PV energy in Texas, totalling 797MW output, plus deals covering facilities in Ohio and Jasper County, Indiana. According to BloombergNEF, Meta was the largest purchaser of new clean energy offtake capacity worldwide in 2025 at 10.24 GW.

Financing for the Reclamation Solar project brings Zelestra’s total funds raised this year to US$1.14 billion, of which US$600 million was for two solar PV projects in Texas, totalling 440MW. The credit facilities for the 203MW solar PV plant in Indiana were provided by financial institutions, Canadian Imperial Bank of Commerce (CIBC), BBVA and Société Générale.

Sybil Milo Cioffi, Zelestra’s US CFO, said of the recent deal: “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. […] These partnerships enable us to keep building at the pace this market needs.”

Indiana currently has 7.2GW of solar PV capacity installed, a figure expected to grow by 13.4GW over the next five years, the fifth-highest growth among all states during that period.

In related Zelestra news, the IPP signed a hybrid solar-plus-storage PPA with Portuguese utility EDP this month covering two sites in Spain.


Source link
Related Topics:Climate & Energy

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.