Zelestra Secures EUR 146.6 Million in Green Financing to Develop 237 MWdc Solar PV Projects in Spain
Zelestra, a global multi-technology renewable energy company, has reached financial close on 237 MWdc of solar PV projects in Spain, securing EUR 146.6 million in green financing to support the construction of its Belinchón and Brazatortas clusters.
May 15, 2025. By Mrinmoy Dey
Backed by a contracted structure comprising 21 PPAs, a senior debt package of EUR 146.6 million in green financing has been secured to finance the construction phase of the projects. BNP Paribas and Rabobank acted as Mandated Lead Arrangers, Issuing Banks and Hedging Providers, and BNP Paribas also acted as Green Loan Coordinator for the transaction.
Located in Cuenca, Castilla-La Mancha, Spain, Belinchón I, II and III will have a total capacity of 162 MWdc and an annual production of 322 GWh. The construction of these facilities will create more than 400 jobs, and the plants are scheduled to start operating in the second quarter of 2026.
Brazatortas I, II and IV, located in Ciudad Real, Castilla-La Mancha, Spain, account for a combined total capacity of more than 75 MWdc and will have a total annual production of 145 GWh. The projects will support more than 400 jobs in construction and will be operational in the second quarter of 2026.
The total capacity of the six projects could power the annual equivalent electricity demands of 150,000 homes in Spain and avoid the emissions of 84,596 tCO2 per year.
Luis Alvargonzalez, Zelestra’s Country Manager in Spain, said, “Closing this major financing agreement is an important step in delivering these large-scale solar projects on time and on budget for our customers. We are very pleased that the financial community has confidence in Zelestra’s strategy and our team, and we thank BNP Paribas and Rabobank for their support. With construction taking shape, these projects will support hundreds of jobs over the next year and make an important contribution to Spain’s decarbonisation goals.”
Zelestra has a project portfolio of more than 6 GW in Spain, which includes over 800 MW of projects contracted, in construction, or operational. The company was recently named among the top 10 sellers of clean energy to corporate customers globally by BloombergNEF (BNEF), and number 2 in Europe, Middle East and Asia.
please contact: contact@energetica-india.net.
Jinto Joseph
Head - Sales & Marketing
Credence Solar Sets 2026 Target for 1.2 GW TOPCon Cell Line to Boost DCR Compliance
Rene Leven
Segment Leader Hydrogen and CCUS, New Energy Solutions
Powering the Energy Transition: John Crane Supports Hydrogen-Ready Infrastructure
Shubham Tiwari
Key Account Manager
Localised Strategy Fuels Sungrow’s Global Expansion in Solar and Storage Markets
Avantika Gupta
CEO
Energy with Vision: CEO Avantika Gupta on Innovation at OPG Power Generation
Vasudha Madhavan
Founder & CEO
Ostara Advisors: De-Risking India’s EV Battery Startups Through Tech Rigor & Market Validation