Madrid-based renewable power firm Zelestra introduced immediately that it has secured a $600 million inexperienced financing credit score facility to assist the event of two photo voltaic tasks in Texas, backed by long-term energy buy agreements (PPAs) with Meta, the proprietor of Fb, Instagram, and WhatsApp.
The 2 tasks, the 252 MW Echols Grove and 187 MW Cedar Vary amenities, are at present below building and type a part of a broader portfolio of seven photo voltaic tasks totaling 1.2 GW below PPAs between Zelestra and Meta.
The agreements assist Meta’s efforts so as to add new renewable era capability to the grid and match its operations with 100% clear power. Meta ranked as the biggest company clear power offtaker globally in 2025, in response to a current report by BloombergNEF, contracting 10.24 GW within the 12 months, with its PPA exercise largely centered within the U.S.
The financing was supplied by Societe Generale and HSBC, with the proceeds anticipated to assist building and supply of the tasks.
Sybil Milo Cioffi, Zelestra’s U.S. CFO, mentioned:
“This financing marks a big milestone within the supply of our largest U.S. photo voltaic tasks to this point. It displays robust confidence from Societe Generale and HSBC in our technique and execution capabilities and reinforces our potential to draw first-class capital to assist our development platform within the U.S. market.”
